Here comes the first major cooperation of the Cardano network, which was announced at a prestigious summit. The network will work with the company ChainLink on the integration of the so-called oracles, which will allow developers to improve smart contracts.
Cooperation of Cardano and ChainLink
This is a major partnership that will allow Cardano developers to build applications through smart contracts Cardano DeFi.
NEW BLOG: Announced just moments ago at # CardanoSummit2021, our collab with Chainlink Labs gives #DeFi developers #BuildingOnCardano secure access to a wealth of real-world data through Chainlink’s decentralized oracle networks @Chainlink @Smart_Contract https://t.co/kOWFpjhtpL
– Input Output (@InputOutputHK) September 25, 2021
ChainLink supplies to blockchain networks various types of so-called oracles, which practically allow smart contracts to process election results, list sports statistics, cryptocurrency odds and many other uses. ChainLink can operate hybrid smart contracts on any DLT network through its network. ChainLink currently provides billions of dollars in DeFi and gaming applications, as well as on platforms related to the insurance sector.
ChainLink will ensure the drive of smart contracts
The integration of important oracles into the Cardano network will bring important data to smart contracts at the institutional level. The whole process will significantly support predictive applications that work with sports results, weather data that are needed for parametric applications. It will also be heavily involved in developments in the gaming industry and the NFT.
Charles Hoskinson sees this collaboration as a huge benefit for smart contracts that will provide real data to blockchain Cardano.