ETC works on oracle services with Chainlink in order to bring more decentralization and close the gaps between different blockchains, as we are about to read more in the upcoming Ethereum classic news.
It is well known that Ethereum Classic and Ethereum were not able to interact natively with the off-chain services because of their consensus mechanisms that require specific behavior on the network. in terms of determinism, blockchains were able to process data in a deterministic manner by using on-chain data. This limitation prohibited Ethereum from connecting with other blockchains or non-blockchain infrastructure. The developers were not able to connect their smart contract apps with market data such as IOTA, DeFi, and other traditional payment systems.
Ethereum Classic smart contracts interacting with off-chain resources is huge, being able to interact off-chain means interacting with everything under the sun.
— Sydney Ifergan (CryptoSYD) (@SydneyIfergan) July 5, 2020
The oracles do the job by creating a bridge between blockchains and the off-chain data. ETC works on oracle services to do just that, with the help of Chainlink:
“@Chainlink is a proven decentralized oracle network, which allows #EthereumClassic smart contracts to interact with off-chain resources with the same security guarantees as the underlying #blockchain.”
Sydney Ifergan, the crypto analyst tweeted:
“Ethereum Classic smart contracts interacting with off-chain resources is huge, being able to interact off-chain means interacting with everything under the sun.”
Ethereum Classic had some things to say about the latest Emerald Wallet v.2.2. as ETC tweeted further:
“Emerald is a non-custodial desktop wallet that supports, #EthereumClassic, #Ethereum, #Tether, and #DAI. It supports Ledger hardware wallets and is available on Windows, Mac, and Linux. Completely Rewritten Emerald Wallet v2.2.0 Now Available.”
Bob Summerwill acknowledged Vitalik Buterin’s opinion by retweeting his opinions which means that some people are focused on creating other ways of using global access financial infrastructure and how to use different mechanisms and smart contracts to create social forms of organization. He also said that there are people who prefer the yield farming 135%. Buterin said that the flashy stuff is quite exciting but they are here for the short term and that there is no real way to know how Defi will have interest rates that will be bigger than the percentage point where the traditional finances are in the long run.
Classic Kevin Lord, expressed the excitement for the cooperation between ETC and Chainlink and praised Bob Summerwill on his leadership saying that good leadership can bring lots of miracles.
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