Categories: ChainlinkNewsWanchain

Wanchain Partners with Chainlink to Integrate Real-World Oracle Data

Wanchain announced today their integration and partnership with Chainlink to integrate real-world Oracle data. Beta testing for Chainlink’s Oracle service is already live on Wanchain.

Wanchain has found a synergy with Chainlink to integrate both of their solutions. Chainlink is a decentralized network of Oracles (An Oracle is a third party information source that supplies data to Blockchains).

Through this partnership, Wanchain aims to allow the data to flow from Oracles to the traditional financial via Blockchains. The solution would increase reliability, transparency, and interoperability to many institutions.

In order to realize the goal of facilitating transactions on Blockchains, it is critical that applications on Wanchain are able to leverage real-world data from the financial markets or IoT devices and send financial data from smart contracts to financial institutions.

With this partnership, Wanchain aims to leverage Chainlink’s technology to access information typically stored off-chain such as APIs, payment gateways, or feeds of data and information.

The data flow from various data sources to Chainlink all the way to payment networks like Visa and PayPal is illustrated in the diagram.

Image Source: Wanchain

Jack Lu, Wanchain’s Founder and CEO, said:

“Integrating Chainlink into the Wanchain ecosystem is a critical and exciting step toward the global economic shift to digital financial transactions in everyday life. We are excited to provide Chainlink’s oracle network to developers on the Wanchain platform to begin building decentralized applications that can leverage real-world data from both the blockchain and traditional world.”

Chainlink CEO Sergey Nazarov said:

“We are very excited to partner with Wanchain to implement our oracle network on their leading interoperability platform, Chainlink seeks to create a future with secure smart contracts that are linked with real-world off-chain data. Building alongside Wanchain’s cross-chain technology will unlock immense possibilities for Chainlink and add tangible value to the users and developers we serve.”


Discuss this news on our Telegram Community. Subscribe to us on Google news and do follow us on Twitter @Blockmanity

Did you like the news you just read? Please leave a feedback to help us serve you better

Disclaimer: Blockmanity is a news portal and does not provide any financial advice. Blockmanity's role is to inform the cryptocurrency and blockchain community about what's going on in this space. Please do your own due diligence before making any investment. Blockmanity won't be responsible for any loss of funds.

Shrikar Parashar

Shrikar is a Blockchain evangelist. He is a die-hard fan of security tokens. He follows the market closely but does not trade. He believes in Hodling.

Share
Published by
Shrikar Parashar

Recent Posts

Bullish Signals for Sui Blockchain: Top SUI meme projects of 2024

Macro guru and Real Vision CEO Raoul Pal shone the spotlight on a rising layer-1…

2 months ago

AI Companions: A New Era of Digital Relationships and Virtual Experiences

As the technology landscape transforms at lightning speed, AI Companions has positioned itself as a…

2 months ago

zkCross Network: Simplifying DeFi Complexity and Achieving Fundraising Success

Did you know that 85% of DeFi value is concentrated in six blockchains?  DeFi is…

2 months ago

Don’t Miss Out: Get $CLP Tokens in the Exclusive RWA IDO Now!

CLAPART - a groundbreaking RWA platform has launched its much-anticipated $CLP token IDO on Gempad…

3 months ago

Step into the Future of Web3 at Blockchain Futuristic Conference 2024, August 13-14

Join us at BFC 2024 to explore the future of Web3. Use a special discount…

4 months ago

WebX Asia 2024: Web3 Innovation Ignites in Tokyo

Catch all the updates with Altcoin Observer, official media partner of WebX Asia 2024. Gear…

4 months ago