Chainlink is acting as the intermediary between the AP data and Everipedia to bring US election results onto the blockchain
Leading blockchain-based encyclopedia Everipedia is running Chainlink Node to provide access to signed The Associated Press (AP) data on-chain, enabling developers to build new smart contracts around verifiable US election results.
According to an announcement on Oct 16, the Everipedia Chainlink node will provide smart contracts access to US election data backed by a cryptographic proof that can be used to verify the data from the Everipedia node comes directly from the original Associated Press API to which Everipedia has exclusive, authenticated access. With this verifiable data available on-chain, smart contract developers can create new financial products based on the outcome of the upcoming US Presidential Election, such as prediction markets, derivatives, and beyond, all of which can be created, executed, and settled with the utmost reliability.
“This integration is made possible by leveraging Chainlink’s oracle infrastructure to allow the Associated Press to sign and publish US election results simultaneously across multiple different blockchains,” the blog said.
Travis Moore, CTO at Everipedia says, “This is the first real-world case of Everipedia’s oracle-as-a-service and we have chosen to use Chainlink because they are the industry standard in their unmatched reliability and infrastructure advancement”.
“Chainlink is bridging the technical gap between blockchains and real-world data,” said Daniel Kochis, Head of Business Development at Chainlink. “Making this powerful technology more accessible is key to realizing its full potential, and publishing AP’s electoral race calls onto the blockchain for the first time is a big milestone in that journey. It will provide a verifiable, tamper-proof record for tracking a historic election.”
“AP is the gold standard in counting the vote and declaring election winners, and we are pleased to work with Everipedia to use our race calls in this innovative way,” said Dwayne Desaulniers, AP’s director of data licensing.
The “oracle problem” has been a fundamental issue in the blockchain industry for many years. It is as important as issues of distributed consensus and low-level blockchain development. Everipedia is building a unique service-based solution to the “oracle problem” that brings a novel solution to the blockchain space – cryptographically signed feeds by world-class organizations.
The “Everipedia OraQle” product solves the problem by bringing on-chain trusted attestations by cryptographically verified entities so that they can be aggregated, computed, and used in any smart contract. This “oracle-as-a-service” platform will be offered to industry-leading organizations to publish data feeds directly on the blockchain. Organizations will be able to earn revenue for publishing reputable data on a wide range of topics including prices, election results, sport statistics/scores, weather, and news.
- If The Fractal Plays Out Perfectly, Chainlink Price Will Fall Under $6 Come American Thanksgiving
- There Is A Bullish Possibility That Chainlink Price Currently Caught Within An Accumulation Phase That Will Be Followed By Further Upside