Chainlink Collaborates with Kadena in Industry’s First Hybrid Blockchain Oracle Integration
Chainlink and Kadena are working together to integrate Chainlink’s market-leading decentralized oracle network to Kadena’s scalable layer-1 Proof of Work public blockchain, according to the announcement on May 19.
Hybrid blockchain platform @kadena_io will integrate Chainlink to bring real-world data into its ecosystem. Its first implementation is to use a #Chainlink Price Reference Contract to calculate its KDA token price to enable fiat-denominated gas fees.
— Chainlink – Official Channel (@chainlink) May 19, 2020
Kadena provides a hybrid blockchain platform, including the only scalable layer-1 PoW public network. Kadena solves the scaling challenges of Bitcoin and the security issues of Ethereum.
This will be an industry first in deploying oracles to a public/private hybrid blockchain platform. Enterprises and entrepreneurs in the Kadena ecosystem can utilize Chainlink oracles to create end-to-end Pact smart contracts using Chainlink’s large collection of pre-made inputs and outputs. Kadena developers can benefit from Chainlink’s high-quality data by building Price Reference Contracts for market prices and leveraging its external adapter technology for off-chain access to credentialed APIs and legacy systems, the announcement said.
“We’re excited to augment the value created through Kadena’s unique hybrid blockchain by bringing secure and reliable data feeds on-chain via Chainlink decentralized oracle networks. With this access to high-quality credential API data via Chainlink oracles, the Kadena ecosystem can begin developing next-generation smart contracts that depend on real-world data,” said Sergey Nazarov, Chainlink Co-Founder.
“When Sergey and I met to talk through the integration between Chainlink and Kadena, we were both immediately excited about what we can accomplish together,” said Stuart Popejoy, Kadena Co-Founder. “Kadena’s Pact smart contract language is becoming the standard with its powerful features such as allowing for multi-sig transactions and formal verification. Combined with the Kadena public blockchain’s scalability, throughput, and low gas costs, we’re enabling high-quality financial market data in a way previously unseen on crypto platforms. Chainlink’s decentralized oracle network adds further security and value to developing and executing smart contracts.”
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