AP, The Associated Press will be using decentralized oracle network Chainlink (LINK) to make its data accessible on leading blockchains.
Furthermore, this means that Chainlink will serve as a bridge that can bring off-chain information to blockchains and smart contracts.
Also, The news agency notes it’s launching a Chainlink node that will permit it to supply. Of course, and also directly sell datasets on US political elections, economic data. Then, sports results, and business financials that the applications can use running on blockchains.
Notably, The AP announcement follows the growing popularity of smart contracts. Which of course, are made to be tamperproof programs. Then, automatically execute outcomes when specific conditions are in place.
Furthermore, As per AP, Chainlink can handle automating blockchain processes. This, will include alerting markets about calls on political races. Also, initiating on-chain trades when companies reveal their financial records. Lastly, updating the appearance of non-fungible tokens (NFT) on real-world events.
Recall, In 2020, the AP partners with decentralize knowledge platform Everipedia. More so, this partnership is for publishing US election calls on the Ethereum blockchain.
Additionally, AP director of blockchain and data licensing Dwayne Desaulniers says,
“Chainlink technology is the ideal way to provide smart contract developers…”
“anywhere in the world with direct, on-demand access to AP trusted economic, sports,..”
“and race call data. Working with Chainlink allows this information…”
“to be compatible with any blockchain. The open-source software is reliable,..”
“secure, and widely used across leading blockchain networks.”
AP director of blockchain and data licensing Dwayne Desaulniers concludes.
Currently, Chainlink’s native token is sitting at 16th largest crypto asset by market cap.
Meanwhile, LINK is trading at around $29.28, according to CoinGecko.
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