Cardano Announces Strategic Partnership with Chainlink

Cardano (ADA), one of Ethereum’s (ETH) biggest competitors, has joined forces with another industry-leading blockchain project.

Cardano Input Output Hong Kong (IOHK) developer announced in a blog post on September 25 that it has partnered with Oracle service provider Chainlink Labs. Chainlink (LINK) will help Cardano developers create smart contracts like part of the new strategic collaboration.

With the long-awaited Alonzo update, which took place in the last few weeks, it is possible to create and use smart contracts in Cardano. The project aims to facilitate this process with the new cooperation.

It may interest you: What is Cardano (ADA)?

Chainlink helps transfer a wide variety of data, such as exchange rates, election results, and weather, to the blockchains necessary for smart contracts to work. Thanks to Chainlink’s decentralized oracles, smart contracts can be connected to all other non-blockchain APIs and secure off-chain calculations can be performed.

According to the press release, Cardano developers will be able to incorporate Chainlink’s enterprise-grade data into the smart contracts they develop. Initially, only real-time market data will be available. Developers will be able to transfer sports and weather data to Cardano in the future.

Charles Hoskinson, founder of IOHK and Cardano, made the following statement on the subject:

“At Cardano, oracles are necessary to make real-time data accessible and are compatible with advanced smart contracts such as DeFi applications. IOHK strives to provide developers with the most secure and robust tools to create useful solutions on Cardano. Integrating Chainlink’s pioneering Oracle solution will also be an easy choice. “

It may interest you: What is Chainlink? Is it possible to mine LINK?

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