Home Ontology announces a new partnership with Chainlink
Crypto News

Ontology announces a new partnership with Chainlink

  • Blockchain project, Ontology, will be partnering with Chainlink, the data-driven smart contracts platform.
  • Ontology will be looking to leverage Chainlink’s distributed ledger technology-based (DLT) market offerings.  

 

Ontology, blockchain project announced that they have partnered with data-driven smart contracts platform Chainlink.

The partnership will see Ontology leveraging its distributed ledger technology-based (DLT) market offerings. The Oracle Problem Per sources close to the matter, the newly announced partnership will look to provide a solution to what the Ontology network calls the “oracle problem.

As per the blog post it details:

The blog post reads in part: “The oracle problem is centered around creating the same level of tamper-proof security for the off-chain connection that currently exists on the underlying blockchain. The reason being that a compromised oracle almost certainly means its connected smart contracts are equally compromised. As a result, a centralized oracle model can put the security of a smart contract in jeopardy because it negates the benefits of end-to-end decentralization.

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.