RIF gateways integrates LINK’s oracles in order to become the first Bitcoin-based smart contract platform to close the gap between data oracles and the biggest cryptocurrency in the world so let’s find out more in today’s Chain link news crypto.
RIF Gateways integrates with Chainlink while most of the ETH-based smart contract platforms are integrating the blockchain oracles for other purposes. RSK stands out in becoming the first Bitcoin-based smart contract platform that will bring closer data oracles and Bitcoin. Developers will be able to make the most of the opportunities that Chainlink provides while capitalizing on the security of the Bitcoin network.
Chainlink data will be ported to RSK through RIF Gateways as an interoperability framework that is designed to let the developers access a broad array of data from other blockchains and also from the external world. Chainlink is the decentralized oracles kingpin in the ETH-based DeFi space and with the new integration, RSK is bringing the oracles industry leader right into the Bitcoin landscape. The launch of RIF Gateways brings EVM DeFi solutions to BTC holders along with all of the benefits of holding the most trusted cryptocurrency such as the Proof of Work consensus algorithm.
RIF Gateways ecosystem will leverage the oracles to establish a bridge between its smart contracts and the off-chain data providers, internet of things, web APIs, payment systems, and much more. This way, RIF will help the broader RSK blockchain ecosystem develop increased functionalities into multiple industries such as supply chain, banking, insurance, finance, and others. The integration expands the possibilities for both Chainlink and RIF developers as the bridge will enable users to transfer their LINK tokens between both chains. Not only will it enhance the RSK network value, but this will also give Chainlink nodes access to the wider marketplace for Oracle solutions.
Also as reported in the Chainlink coin news, The popular platform acquired a privacy-preserving oracle protocol DECO from Cornell University. One of the creators of this protocol, Ari Juels, will be joining Chainlink as chief scientist. Juels was the chief scientist at RSA and has been teaching at the university since 2014, known as one of the premier blockchain hubs in the world. He also focused on his work at Chainlink and coined the term “proof-of-work” along with his research partner Markus Jakobson.
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