StarkNet Partners Chainlink to Add Oracle and Data Feed Services February 7, 2023 February 7, 2023 Kelly Cromley http://1AZFjzw2#Nwf63pYaMWq#xIY
Market NewsFebruary 7, 2023 by Kelly Cromley

StarkNet Partners Chainlink to Add Oracle and Data Feed Services

Oracle services, datastreams, and pricing feeds will be added to the StarkNet environment as a consequence of an anticipated deal between the blockchain scaling technology company StarkWare and Chainlink Labs. This connection will be formed in the nearish term.

Due to the agreement, StarkWare will participate in Chainlink’s Scale program, and Chainlink will provide the pricing feeds for StarkNet’s testnet. Furthermore , StarkNet tokens will be utilized to cover a portion of the operational costs of Chainlink oracle nodes. Through the use of StarkNet tokens, Starket programmers will have accessibility to Chainlink oracle services and information feeds.

Chainlink is a decentralized oracle system that facilitates the safe access of smart contracts to off-chain datasets, application programming interfaces (APIs), and payment networks. It enables smart contracts to communicate with real-world information and events, hence allowing them to be prompted by information originating from other sources.

The network employs decentralized nodes, which are charged with the obligation of supplying trustworthy and safe data for smart contracts. In return, these nodes are compensated with Chainlink’s native LINK money. The information provided to smart contracts by node owners has been validated and computed by those node owners prior to submission. This confirms that the data is trustworthy and correct.

As stated in a statement made by StarWare, an infrastructure connecting StarkNet and Chainlink has been constructed that is commercially viable. In addition, it is intended that the incorporation would offer programmers working on StarkNet with the necessary infrastructure to create “more standards compliant, more complex, and safe smart contract solutions.”

Oracles are an essential component of the system, and their worth can be observed in a variety of applications due to the adaptability they offer. Numerous applications demand information on the prevailing worth of assets or non-financial assets. Oracles are sometimes likened to comprehensive development tools because of their wide capability.


AuthorKelly Cromley

Kelly is our in house crytpto researcher, delving into the stories which matter from blockchains being used in the real world to new ico coming out.