Ontology Integrates with Chainlink to boost Smart Contract Ecosystem
Ontology has successfully integrated with the decentralized oracle network Chainlink to make use of its oracle technology for strengthening the smart contract ecosystem. As a decentralized oracle network, Chainlink makes sure that smart contracts access off-chain data feeds securely.
The integration will open up new use cases for data management
Through integration with Chainlink Ontology will be able to deploy its oracle network which will ultimately open up new use cases of development for data management. At the start, the focus will be on developing for Ontology new data management capabilities.
.@OntologyNetwork is working towards a mainnet deployment of Chainlink for new data management functions. Ontology's team committed significant code to the Chainlink repo, rewriting Chainlink's contracts into its native smart contract programming language. https://t.co/sQFs1xo03A
— Chainlink – Official Channel (@chainlink) June 22, 2020
Currently, residing on the Ontology TestNet, the integration will help the developers of Ontology to develop those smart contract apps which have a connection to real-world data.
A significant step towards creating a scalable platform
With this latest move, the Ontology network will now have Chainlink’s oracle support and it will certainly increase scalability and decentralization of the network.
Commenting on Ontology’s native integration with Chainlink, the Co-Founder of Ontology Andy Ji stated that this is a significant step made on the part of Ontology which will give a boost to its smart contract ecosystem and will make its platform more scalable and robust.
Andy Ji said:
Integrating Chainlink’s decentralized oracle protocol is a significant step that will boost Ontology’s ecosystem, creating a more robust and scalable platform for our expanding community. Ontology’s high-efficiency and low transaction fees, combined with Chainlink’s adept ability to consistently provide secure and reliable oracles is a potent combination that will drive mutually beneficial outcomes for our respective platforms and communities.
Apart from this, Ontology also wants to integrate various Chainlink oracles into its open framework HydraDAO as well and for this purpose, the Ontology network is looking for new possibilities.
The native integration with Ontology will also give a boost to demand and adoption of the smart contract and oracle technology of Chainlink in 2020.