ChainLink (LINK) one of the most unique blockchain projects you can find has climbed 7% in the last 7-days against a backdrop of red.
LINK is a projects aiming to provide oracles – data sources for smart contracts, with the attempt to create meaningful automation and a connection to real-world business concerns. The crypto community has taken notice of the project’s attempt to secure more partnerships that have made ChainLink a pivotal part of the ecosystem.
According to the company:
LINK is a decentralized oracle network that enables smart contracts to securely access off-chain data feeds, web APIs, and traditional bank payments. Chainlink is consistently selected as one of the top blockchain technologies by leading independent research firms such as Gartner
As of this morning, LINK traded at $0.60, up around 3.47% for the past 24 hours. But the real feat for LINK is the gain in BTC prices.
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In addition, on stage at Devcon, Sergey Nazarov of Chainlink announced that they will be acquiring Cornell’s Town Crier project. Chainlink will be primarily adopting the technology and further lead the development of the trusted hardware-based oracle system on the Chainlink network.
Town Crier is an interesting project that came out of Cornell University and IC3 to ensure data privacy and security for smart contracts. The project outlines a novel way to process transactions and use encryption to verify the processing without leaking any sensitive information in the process.
— Chainlink – Official Channel (@chainlink) November 1, 2018
“Chainlink is the most qualified team to seize the baton and bring Town Crier to the next stage of development. I’m confident that Chainlink’s leadership will result in high production quality, a raft of new features, and greatly improved usability. Integration of Town Crier into the Chainlink platform will help solve the vital problem of smart contract connectivity by bolstering both data integrity and query confidentiality.”
Chainlink has explained that it will integrate the Town Crier technology into their decentralized oracle network. The combination of these two leading projects creates a clear technical leader for securely providing smart contracts with the key external inputs they need to function.