When a F50 corporation finally publicly announces a full integration of LINK - LINK will melt faces and my short-term $250 price prediction will look conservative for LINK
What is Hyperledger ? Hyperledger and its subset consortium, Hyperledger Avalon, run through "The Linux Foundation" is a group of major corporate powerhouses and their integration of legacy IT systems to be made available to the Blockchain space.
Hyperledger Avalon is a ledger independent implementation of the Trusted Compute Specifications published by the Enterprise Ethereum Alliance. It aims to enable the secure movement of blockchain processing off the main chain to dedicated computing resources. Avalon is designed to help developers gain the benefits of computational trust and mitigate its drawbacks.
From Hyperledger Avalon's website:
"We are very excited to announce the latest of the Hyperledger projects, Hyperledger Avalon. Some of you may know Avalon as TCF or Trusted Compute Framework, the name it held during the initial phases of its collaborative development. In fact, that collaboration is one of the stand-out aspects of Hyperledger Avalon. It is an interesting intersection of Hyperledger, EEA, and cloud service provider ecosystems and is perhaps the most broadly sponsored project to date. It brings together sponsorship from Intel, iExec Blockchain Tech, Alibaba Cloud, Baidu, BGI, Chainlink, Consensys, EEA, Espeo, IBM, Kaleido, Microsoft, Banco Santander, Wipro, Oracle, and Monax. That’s quite a list of sponsors by any standard. The natural question is what could drive so much interest?"
There are a couple of key challenges with blockchain that probably don’t surprise any reader of this blog: scalability and confidentiality. One approach to both of these limitations is to perform some operations “off-chain.” In a traditional view of a blockchain, the data and validation logic for every transaction takes place on every node of the blockchain network or “on-chain.” It’s this redundancy and transparency that provides a network with its integrity but also comes at the cost of performance and confidentiality. By offloading some work, participants can trade off resiliency and integrity for performance and confidentiality. Of course, everyone wants to have their cake and eat it too, and so the use of the use of “trusted computing” is intended to maintain resiliency and integrity guarantees as much as possible while affording the additional performance and confidentiality. Trusted computing includes a variety of techniques to ensure that computation was done correctly and secretly. Hyperledger Avalon will realize these as different Worker types and include TEE (Trusted Execution Environments like Intel® SGX), MPC (multi-party compute), and ZK (zero-knowledge proofs).
Recall who it was that ChainLink acquired back in 2018, Town Crier:
Town Crier is an interesting project that came out of Cornell University and IC3 to ensure data privacy and security for smart contracts. The project outlines a novel way to process transactions and use encryption to verify the processing without leaking any sensitive information in the process.
IRITA Hub Completes the Mainnet Integration of Chainlink Oracles on BSN
IRITA Hub, developed by the IRISnet core development team Bianjie, has completed a native integration of Chainlink Oracles on the Blockchain-based Services Network (BSN). The integration is a joint effort between BSN, SNZ, Chainlink, and IRISnet, and was made possible through a Chainlink Community grant awarded to the IRISnet team.
At present, the Chainlink oracle services supported by IRITA Hub are integrated live on mainnet and ready for use by projects and enterprises in the BSN ecosystem as a means of securely and reliably utilizing real-world data in their blockchain applications.
Chainlink is the world’s leading blockchain oracle network, securing numerous top blockchain applications like Synthetix and Aave and working with large enterprises such as Google and Oracle. The Chainlink oracle technology enables blockchain applications to use real-world data stored outside the blockchain (off-chain) to trigger on-chain smart contracts, such as using asset prices to trigger financial smart contracts or weather data to settle a crop insurance application.
IRITA Hub is the consortium blockchain implementation of IRISnet, designed to support the interoperability requirements of China’s enterprise blockchains. IRITA Hub was launched in the BSN environment on Oct. 31, 2020. Similar to IRISnet, which aims to offer an interchain service platform through its iService framework, IRITA Hub currently supports interoperability among various consortium blockchains such as Hyperledger Fabric and FISCO BCOS, as well as public blockchains like the Ethereum testnet and IRISnet mainnet. On the other hand, iService is an HTTP-like protocol that allows dApps to define, bind, request, and respond to interchain services.
The Chainlink integration leverages both IRITA Hub and IRISnet’s iService to make premium Chainlink oracle data available to dApps in the BSN ecosystem. Any blockchain connected to the IRITA Hub can use iService’s interchain function to interact with Chainlink and obtain off-chain data, ultimately bringing Chainlink’s trustworthy data and oracle services to Chinese consortium blockchains. Documents about how to deploy Chainlink oracle services and consume them on BSN can be found on both the BSN portal and GitHub.
To illustrate the process, two demo oracle services have currently been deployed to IRITA Hub and are operated by the SNZ Chainlink Node operator. These two oracles provide near real-time price information for the USD prices of gold and ETH.
The upcoming IRIS Hub upgrade projected for this month also features a Chainlink integration through iService, creating a convenient way for Chainlink nodes to provide data and oracle services to all interconnected blockchains in the IRISnet ecosystem.
This integration of Chainlink into the BSN IRITA Hub is the first step towards showing how real-world data can provide immense value to interconnected blockchain systems. As part of the integration, Chainlink oracle services can be used in a variety of blockchain environments via IRITA Hub. Moreover, enterprises and developers from the BSN ecosystem in China and around the world can easily access trusted data at any time with the support of IRITA Hub, Chainlink, and SNZ nodes as a means of securely connecting their applications with the traditional systems currently powering modern economies.
Every Startup in the Blockchain with Oracle Cloud and Chainlink
SENIOR MANAGER, ORACLE FOR STARTUPS
Let’s say that again. Every Startup in the Blockchain with Oracle Cloud and Chainlink.
A bold statement, but being bold is a core part of the Oracle for Startups ethos. In fact, it’s part of the vision of every startup we work with too.
‘Every Startup in the Blockchain’ is the bold vision that underpinned the Oracle for Startups new initiative announced during CloudEXPO.
In a session at the Silicon Valley event, we announced that Oracle for Startups is going to co-develop Chainlinks with 50 qualified startups. (join the program now to participate!).
So why should startups and their customers care about this concept of Every Startup in the Blockchain?
The blockchain applications include smart contracts that execute on the platform, like Oracle Blockchain Platform (a hardened and pre-assembled blockchain-as-a-service based on Hyperledger Fabric open source from Linux Foundation). Triggered by external requests, they have business logic that evaluates data and generates the next set of ledger updates. If a blockchain can guarantee that a travel expense is within policy, for example, a smart contract can generate a payment order on an ERP system without any further approvals.
Usually smart contracts evaluate the data included in the on-chain ledger and the payload included in the request, but they may also need to get data from other external or internal sources in a trusted and deterministic manner (multiple nodes executing the same smart contract gets the same response).
If your startup can tell that a flight was a cheaper alternative for an employee at booking time (i.e. Smartrips), or that your inventory needs to be re-balanced across retailers (i.e. INCREFF), or how long it is going to take to deliver a package to your customer (i.e. iGeolise), you can open up additional revenue streams by selling this information to blockchain applications.
What about the LINK token?
Enterprises using Chainlink to call startups’ APIs through Chainlinks would pay Chainlink node operators using the LINK token.
The missing piece for supplying the data to smart contracts has been decentralized middleware technology to reliably and consistently provide off-chain data to these applications running in the blockchain nodes. You don’t want to bring bad data to a blockchain party, all inputs must be evaluated by a trusted “blockchain oracle” network like Chainlink, which can then timestamp and wrap them with non-repudiable signatures before providing them to smart contracts.
Sergey Nazarov, CEO of Chainlink said about the relationship, “We're excited about enabling the next generation of externally connected smart contracts together with Oracle for Startups, successfully generating an order of magnitude improvement in the usefulness and quality of the smart contracts available today.”
The Oracle for Startups team will publish content about launching Chainlink nodes on Oracle Cloud Infrastructure (OCI), integrating them with Oracle Blockchain Platform, and best practices for developing smart contracts that integrate to Chainlink in the coming months.
The excitement from the community has been fantastic both before and after the announcement at CloudEXPO.
xxx usd is not real... even keep this over 25usd
is a sucess