There is a new partnership in the crypto world, this time between Chainlink and Ontology, focusing on improving the smart contract ecosystem. As you probably know from our daily Chainlink news, the LINK token is surging in terms of adoption and demand in 2020.
The latest to use the token’s technology and benefit from it is Ontology (ONT), a blockchain enterprise solution which is based in Singapore and one that has worked closely with the NEO Foundation, launching its mainnet in 2018.
A new Chainlink tweet shows that Ontology will use the former’s oracle technology and verifiable price feeds to input data for various use cases.
.@OntologyNetwork is working towards a mainnet deployment of Chainlink for new data management functions. Ontology's team committed significant code to the Chainlink repo, rewriting Chainlink's contracts into its native smart contract programming language. https://t.co/sQFs1xo03A
— Chainlink – Official Channel (@chainlink) June 22, 2020
Details show that Chainlink and Ontology will integrate the new data management capabilities for the latter, mostly through “the integration of ONT ID, Ontology’s digital identity framework, and the ONTO wallet into a range of dApps and enterprise infrastructure.”
For those of you who don’t know or are not following our altcoin news, Ontology (ONT) is a cryptocurrency that touts itself as a high-performance public blockchain and a distributed collaboration platform enabling a decentralized network environment which solves key issues of identity security as well as data integrity.
ONT is building a “last mile for blockchain applications” and is one of the crypto projects that never had an initial coin offering (ICO). Instead of this, ONT was airdropped in three major tranches and gained value very quickly over the year.
We've successfully completed a native integration with @chainlink, a potent combination of our high-efficiency & low transaction fees & Chainlink's adept ability to provide secure & reliable oracles, that will drive mutually beneficial outcomes for both.🔥 https://t.co/ohaWIQZzsn
— Ontology (@OntologyNetwork) June 22, 2020
At press time, Chainlink and Ontology are figuring out the details on how they are going to improve the smart contract technology. In a blog post, Ontology noted that the new Chainlink integration is live on the TestNet, and allows developers to build smart contracts applications connected to real-world data.
Chainlink also acknowledged this and the Ontology team had committed “significant code” to the project repo ahead of the integration, even completely rewriting the Chainlink contracts in Ontology’s native Python smart contract programming language.
“Ontology’s high-efficiency and low transaction fees, combined with Chainlink’s adept ability to consistently provide secure and reliable oracles is a potent combination that will drive mutually beneficial outcomes for our respective platforms and communities,” the co-founder of Ontology Andy Ji said in a statement.
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