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New York-based Kadena, a JP Morgan offshoot and next-generation blockchain application provider for companies and entrepreneurs, revealed the company’s collaboration with Chainlink, a decentralized oracle network that allows smart contracts to securely access off-chain data streams, conventional bank payments, and web APIs. The partnership aims to incorporate the decentralized oracle network of Chainlink into Kadena ‘s scalable layer-1 Public blockchain Proof of Work.
Chainlink and Kadena are set to unveil the first-ever alignment of hybrid blockchain in the cryptocurrency sector.
Chainlink is an off-chain data feeds platform based on Oracle that gives access to blockchains. Kadena plays a vital role in linking public applications with private blockchains, creating a single hybrid system that incorporates the services of one another.
The partnership between the two giants would enable customers to use Chainlink ‘s massive prototype database to quickly build end-to-end production-ready smart contracts.
Collaboration to Augment Security on Hybrid Blockchain
Chainlink offers solutions mainly for programmers grappling with centralized oracles such as APIs and off-chain data to link their data inputs. Through using several chain links, Chainlink provides a decentralized network and thus provides a highly protected framework in the system. The project has tech giants as its customers as well as Oracle, Google, and SWIFT.
Kadena ‘s public chain network is propelled by a Proof of Work layer-1, which also retains scalability and integrity of Bitcoin through KDA, its patented technology security token. Remarkable firms using Kadena include JP Morgan, Cosmos, and USCF.
The Kadena-Chainlink collaboration could produce the groundbreaking test tool kit for Covid-19 outside of the crypto community. Chainlink may be used by medical institutions and governments to challenge the reliability of test kits and their test results.
The effectiveness of this collaboration helps to build a strong ecosystem for blockchain.
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