Two Stars of 2020 Altcoin Announces Co-operation
The top ten blockchain now has all the facilities it needs to develop a stablecoin.According to the statement of the blockchain platform today, developers affiliated with Tezos will now use Chainlink oracles to serve their smart contracts.
Chainlink, one of the best performing cryptocurrencies in the past two years, helps to link blockchains to real world data. It brings out-of-chain data to smart contracts (not in a blockchain) through a decentralized oracle system (in a blockchain).
Oracles allows developers to create smart contracts that include off-chain data, access external API services and trigger placements. The Oracle provider has seen a number of integrations over the past 18 months. It is used in everything from pricing feeds for decentralized finance (DeFi) platforms to aviation insurance, sports memorabilia and now perhaps stablecoin.
According to a statement, cryptocurrency Tezos, which is in the top ten of market value reputation, will use Chainlink to use in non-chain applications and to access non-chain resources. Integrating the Oracle provider will further develop the ecosystem of advanced Tezos to develop next-generation decentralized applications.
Sergey Nazarov, co-founder of Chainlink, said, “Tezos is one of the most advanced blockchains in the cryptocurrency field and offers many unique features that appeal to institutions and developers. “We are excited to help the Tezos ecosystem take this critical step in its evolution, safely integrating with the entire spectrum of valuable non-chain real-world resources.”
Two teams of Tezos developers will lead to integration: the team behind Tezos smart contracts is SmartPy, the SmartPy team of SmartPy; Cryptonomic developing the Tezos tools like Galleon wallet and Nautilus Cloud.
NYC-based Cryptonomic advises corporate players on blockchain strategies and structures as well as financial applications. By the way, SmartPy is a language unique to Tezos. This is a Python library, which means that contracts can take over other contracts freely. It is useful when dealing with multi-stage calculations like Oracles.
Tezos expands its financial services
There are 30 independent node operators in the Chainlink network and many of them have extensive experience like Tezos validators. This will make integration more smooth and secure than version.
Tezos is proud to be a critical blockchain and is ideal for financial applications. Chainlink integration will allow Tezos developers to expand financial services offered to users.
This move could mean a stablecoin , pricing network calculations against fiat currency, lending / borrowing to extend credit for financing services, and pricing for derivatives in diversified financial strategies .
The Tezos community is developing stablecoins, including USD Tez, which is scheduled for development next month.
“Stablecoins are essential for a blockchain-focused economy to continue in Tezos. “With the introduction of the secure and reliable Chainlink Oracle service in the Tezos chain, we will finally see the launch of multiple stablecoin projects on the platform and we will truly open its potential.”
However, Tezos developers now have many areas for exploration, including transport protection against damage and more for developing countries such as insurance. Chainlink’s oracle network is currently securing market data for about 30 price feeds used by Deere dapps on the Ethereum blockchain platform.