The partnership will integrate decentralized oracles into the Ethereum Classic network. Oracles are useful when it comes to integrating blockchain with traditional payment systems. Ethereum Classic Labs has announced its partnership with Chainlink (LINK) to bring decentralized oracles and external data to the Ethereum Classic blockchain. According to the announcement, Ethereum Classic (ETC) and Ethereum cannot natively interact with data that exists outside of their respective blockchains. However, platforms like Chainlink allow blockchains to access external data securely. Additionally, the service acts as a decentralized oracle by relying on independent data providers and node operators. As a result of the collaboration, the data provided by Chainlink will be accurate, reliable and free from possible interference. This is beneficial for developers on Ethereum Classic and other blockchains. Chainlink said: Oracles facilitate off-chain connectivity for smart contracts by reforming external connection points (APIs) so that two separate software applications become compatible and can exchange data with each other. These oracles can then pull data into the smart contracts and/or execute actions on external systems based on predefined instructions. ETC Labs has not disclosed information about the kind of applications that it will develop with Chainlink. It does, however, suggest oracles are useful when it comes to integrating blockchain with traditional payment systems, market data, and Internet of Things (IoT)-based insurance data. James Wo, Founder of ETC Labs said: This extended functionality to off-chain environments substantially scales the number of use cases smart contract developers can create using Ethereum Classic and ultimately makes it easier and more seamless for developers to build on Ethereum Classic. FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street Crypto News share Read Next WTI Price Analysis: Pierces short-term resistance trendline with eyes on 38.2% Fibonacci FX Street 2 years The partnership will integrate decentralized oracles into the Ethereum Classic network. Oracles are useful when it comes to integrating blockchain with traditional payment systems. Ethereum Classic Labs has announced its partnership with Chainlink (LINK) to bring decentralized oracles and external data to the Ethereum Classic blockchain. According to the announcement, Ethereum Classic (ETC) and Ethereum cannot natively interact with data that exists outside of their respective blockchains. However, platforms like Chainlink allow blockchains to access external data securely. Additionally, the service acts as a decentralized oracle by relying on independent data providers and node operators. As a result of the… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.