Chainlink and IoTeX Team Up to Advance Real-World Connectivity

Chainlink and IoTeX have expanded their partnership to allow developers to build on the latter’s blockchain platform, more advanced smart contract applications with access to real-world data and off-chain computing.

IoTeX will essentially integrate Chainlink’s decentralized oracle technology into its blockchain network. The two main projects have made significant progress by bringing reliable and valuable data from the blockchain space and applying it to real-world use cases. Pairing historical Chainlink data with real-world IoTeX data in real time is what makes the two projects a powerful duo.

This Chainlink and IoTeX collaboration includes Protofire, which has received a Community grant from Chainlink for this project. Protofire is tasked with native IoTeX integration and verification of Chainlink contracts to make them compatible with the IoT-centric blockchain network. You will also create instructions for developers who want to integrate Chainlink into the IoTeX network.

Protofire is a widely recognized blockchain development provider with vast experience in creating decentralized protocols, development tools, and smart contracts. He has contributed to many important projects, such as Gnosis, Maker, and Tezos.

“We are excited to be working with the IoTeX and Protofire teams,” said Niki Ariyasinghe, Head of Blockchain Partnerships at Chainlink Labs. “The three teams are working closely together to enable Chainlink’s oracles to run natively on IoTeX. ».

Ariyasinghe also said that thanks to the expansion of the partnership, ‘developers will soon have access to high-frequency oracle updates while maintaining a high level of tamper resistance and data quality, enabling the development of a vibrant ecosystem of DeFi applications ».

The IoTeX-Chainlink-Cartesi triangle

Cartesi and IoTeX partnered on December 2. Using Cartesi’s technology and IoTeX infrastructure, performing technical integrations will allow both teams to tackle much more sophisticated IoT-oriented solutions.

“IoTex is an environment-oriented blockchain,” said Cartesi CEO Erick de Moura. “We combine their blockchain technology, IoT expertise and hardware devices with our Layer-2 green blockchain agnostic technology. The integrated framework will promote a more powerful development framework for our communities, developers and any business interested in creating fully reliable IoT solutions.

The Chainlink, Cartesi and IoTeX partnership bridges the gap between blockchain systems and the rest of the world. This will help with greater adoption of blockchains and mainstream cryptocurrencies.

Cartesi is the first operating system on the blockchain. It brings Web2 development tools to a blockchain environment, including Linux, standard programming languages, services, and libraries. This breaks a significant barrier for non-blockchain developers to enter the space and create next-generation Dapps using their conventional software components.

Even more remarkable, Cartesi solves what many other blockchain projects don’t have: computational scarcity. Cartesi’s off-chain computing enables Dapps to run on Linux and be verified by blockchain while running complex processing that exceeds blockchain computational limits and fees.

Chainlink: the public data feeds

With Cartesi as the platform environment, Chainlink provides the data. Chainlink brings in valuable data from off-chain sources and feeds it onto the blockchain. Public data sources can provide almost any type of information, such as weather indices, GPS information, traffic reports, or stock market prices. Blockchain developers can now use this historical data in smart contracts.

Chainlink’s unique oracles act as secure intermediaries to take data out of the chain and give it functionality within the chain. This solves the problem that real world information can communicate with blockchain networks.

Pulling open data from global giants like Amazon Web Services (AWS), Google Cloud, and Weather Channel, and bringing you blockchain security and privacy is transformational for applications. Users can certainly trust that third-party data is verified and its integrity cannot be compromised.

IoTeX: real-world data in real time

With the historical context of Chainlink data, IoTeX steps in to provide real-world data in real time. Smart machines and devices generate data that can now be safely brought to the IoTeX blockchain. This reliable data could come from motion sensors, smart vehicles, wearable fitness devices, environmental trackers, or any Internet of Things (IoT) device.

IoTeX with its MachineFi vision allows users of these devices to own the data and benefit from its generated value. Now, humans and machines can interact with confidence and guaranteed privacy in a way that has never been done before.

With the genesis of the metaverse, people are more eager than ever to claim digital ownership. IoTeX enables users to digitize their physical experiences and use that data to interact with Dapps, DeFi, GameFi, and more in its vast ecosystem.

At the network level, the IoTeX Layer 1 blockchain provides low transaction fees and fast completion time. This makes it a scalable and ultra-fast blockchain for enterprise-grade solutions.

“Chainlink and IoTeX have been partners since 2019 when they began conducting significant research and development leading to this integration, of which we can expect to see significant applications as the collaboration develops further,” said Art Malkov, Head of Growth. of IoTeX.

“IoTeX recently jumped the ranks of cryptocurrencies to the top 90 on Coinmarketcap.com,” Malkov said. “It is clear that the market recognizes the significant implications of combining historical data and real-time data from connected devices. Undoubtedly, unimaginable uses will be found for combining different data sets’.

How it all comes together

IoTeX-powered machines and devices produce information that can then be used in smart contracts for increased functionality. In these contracts, the real-time data from IoTeX can be compared to the historical data from Chainlink to calculate different insights or analysis. At the center of this pair, Cartesi is the environment that calculates real-time and historical data.

Developers can create Dapps to help users contextualize their real-world experiences with those of the general population. Furthermore, Dapps can reward users based on the data provided.

Imagine that you are looking for the nearest convenience store. The Cartesi development environment allows you, or the creator of Dapp, to write a smart contract and find this information. Your IoTeX powered device can track your current GPS location, then Chainlink provides a verified API call for all stores around that location. These conditions are executed and the closest store is returned to you.

Your portable fitness device can measure your heart rate while you exercise. Now, to determine your health status, Dapp will use the data provided by Chainlink to find the benchmark of average health rankings globally. If you are healthier than a certain percentage of the population, then the Dapp can reward you for leading a healthier lifestyle.

A sensor can capture the quality of the air in a playground. To ensure that it is kept at a safe level or to give hyper-local air quality advisories, this data can be compared to historical air quality indices to give the necessary context to the measured level.

The use cases span almost all possible industries, both in individual and enterprise instances. While each blockchain is powerful on its own with a unique approach, there is no denying that they are almost unbeatable when combined.

Cartesi provides developers with a robust computing environment. Chainlink is the gateway to bring global databases of information to blockchains. IoTeX brings real-time data from physical devices to compare people’s data with the rest of the world. With these three, Dapps will reward users for contributing their data, incentivizing users to make certain decisions or complete actions. All three together allow creators to build their ideas and tackle complex problems that were previously impossible to solve.

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Chainlink and IoTeX Team Up to Advance Real-World Connectivity

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