Chainlink Gains Blockchain Oracle Solution From Cornell University

29
ChainLink (Nairametrics)
ChainLink (Nairametrics)

Chainlink has acquired Cornell University’s privacy oracle solution DECO for an undisclosed amount. This is Chainlink’s second acquisition to date, according to an announcement made by the firm on Saturday.

DECO was co-created by Ari Juel, former chief scientist at digital security firm RSA, who will also join Chainlink Labs as part of the deal under the same title.

Moreover, Chainlink CEO Sergey Nazarov and Juels have begun drafting a second Chainlink white paper, according to a phone interview with the pair. The duo authored the original Chainlink white paper in 2017.

Chainlink’s oracle solution ports data from off-chain locations into blockchain smart contracts. For example, Chainlink provides data information for most decentralized finance (DeFi) applications, such as dYdX’s crypto derivative products.

DECO claims to leverage how HTTPS/TLS information is transmitted for more secure web practices, according to a release from the firm.

“DECO is also useful for users who want to monetize their own data (and therefore prove that they are indeed providing correct data) without giving away anything but the data that they are selling,” DECO’s website reads.