CasperLabs planned integration of Chainlink’s decentralized oracle network for all the applications built on network
Switzerland based blockchain project CasperLabs announced on Medium that it has integrated with decentralized oracle service provider Chainlink for stable and fiat denominated transaction fees.
As per the official blog post, CasperLabs stated that Chainlink is the first oracle provider for decentralized applications to be integrated on the platform.
.@meetCasperLabs is integrating Chainlink as a core component of its architecture. Casper CTO @MParlikar says, “The Chainlink decentralized oracle network will enable us to represent transaction fees in currency versus tokens, making budgeting simple & efficient for businesses.”
— Chainlink – Official Channel (@chainlink) April 28, 2020
Commenting on the integration, CasperLabs CTO Medha Parlikar stated that the company is building a business-focused blockchain. She added that the Chainlink network would help them represent transaction fees in currency rather than tokens, which would make business budgeting efficient and straightforward.
Source: CasperLabs Official
Senior Program Manager, Ashok Ranadive said:
“CasperLabs offers several features that are specifically built to address businesses, for example, ‘flexible payment code’ and ‘multi-signature weighted keys.’ Our integration with Chainlink is critical to helping us solve the core concern hampering the mass adoption of blockchain by businesses, the lack of price predictability. By providing a stable transaction price, we can help businesses offer a predictable value proposition to their customers, opening up several opportunities.”
CasperLabs is an enterprise blockchain solutions project specifically designed for real-world applications that also focuses on protecting usability, costs, decentralization, and security. On the other hand, Chainlink helps developers to launch data-enabled applications on its mainnet securely. It is a distributed oracle network that provides secure access to off-chain data feeds, web APIs, and traditional bank payments to smart contracts.
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