Why Chainlink was a “top choice” in new Blockstack integration 🚨 This article is 4 years old...
Why Chainlink was a “top choice” in new Blockstack integration
2 min read
Updated: Oct. 1, 2020 at 11:26 am UTC
Blockstack and Chainlink are joining forces to integrate the Blockstack and Algorand-supported Clarity smart contract language with the latter’s industry-leading oracle technology, according to a release shared with CryptoSlate.
Blockchain platform @blockstack is integrating #Chainlink as its go-to oracle solution to empower universally connected smart contracts. Blockstack devs will have access to any API, Sybil resistant nodes, live decentralized price oracles for #DeFi and more.https://t.co/nZBk8TcKKR
— Chainlink – Official Channel (@chainlink) September 30, 2020
Blockstack turns to Chainlink price feeds
For the uninitiated, Blockstack is an open-source and developer-friendly network for building decentralized apps and smart contracts.
The protocol inherits Bitcoin’s security through a “Proof of Transfer” consensus design, which enables users to write secure smart contracts with Clarity and hosts it all on a singular decentralized network maintained by developers from all over the world.
And the firm’s now leveraging Chainlink as its preferred oracle solution. With the partnership, Blockstack developers will soon be able to build sophisticated Clarity smart contracts that are enhanced with secure, validated data spanning millions of data providers, web APIs, and other off-chain resources from the oracle provider.
Clarity was designed to be more secure, predictable, and reliable than other languages used to code a smart contract. When combined with Chainlink’s technology, Clarity will unlock a host of new use cases and user experiences, said Blockstack.
The initial integration will revolve around integrating Chainlink’s widely used Price Feeds but will evolve into a generalized oracle solution for the platform. Both teams aim to make Chainlink’s capabilities available to Blockstack users and developers in the near future, in addition to the entirety of the Chainlink smart contract library.
The collaboration between Chainlink and Blockstack will span technology, marketing, and community development, bringing the former’s technology into the Stacks 2.0 blockchain’s expanding orbit of developers and traders.
A partnership beyond tech
The two teams also plan on co-hosting upcoming industry events and hackathons, as well as creating more developer-centric content to accelerate development and adoption. As they evolve the collaboration, Blockstack and Chainlink will look to extend more benefits, capabilities, and opportunities to their users and communities.
Muneeb Ali, the co-founder of Blockstack, said of the partnership:
“Stacks 2.0 is a unique layer-1 blockchain that has a native bridge to Bitcoin. Clarity smart contracts give new powers to our developers. High-quality data feeds from Oracles are an important building block for Clarity contract developers.”
Ali added on a tweet that Chainlink was the “top choice” for a decentralized oracle service for Blockstack, for the reasons mentioned above.
This was clearly our top choice when thinking about Oracles for Stacks 2.0.
I’ve seen Sergey relentlessly execute since the early days it crypto.
— Muneeb (@muneeb) September 30, 2020
The partnership follows Theta Network’s announcement of onboarding Chainlink oracles to its decentralized advertisement protocol from earlier this week.
Seems like Chainlink’s not losing demand anytime soon.
Chainlink Market Data
At the time of press 11:26 am UTC on Oct. 1, 2020, Chainlink is ranked #8 by market cap and the price is down 8.43% over the past 24 hours. Chainlink has a market capitalization of $3.4 billion with a 24-hour trading volume of $1.54 billion. Learn more about Chainlink ›
Crypto Market Summary
At the time of press 11:26 am UTC on Oct. 1, 2020, the total crypto market is valued at at $341.58 billion with a 24-hour volume of $83.76 billion. Bitcoin dominance is currently at 58.20%. Learn more about the crypto market ›
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Chainlink is a decentralized oracle network that connects smart contracts on the blockchain to real-world data.
Stacks
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Stacks (formerly Blockstack) connects to Bitcoin, enabling you to build apps, smart contracts, and digital assets that are integrated with Bitcoin’s security, capital, and network.