What is Chainlink
Chainlink (LINK) is a decentralized oracle network that aims to connect smart contracts with real-world data.
-What we have to say for Oracle is that a user requesting access to off-chain data can submit a request agreement to the Chainlink network. These contracts match the demand contract with the appropriate oracles. Contracts include a reputation agreement, a sequence matching agreement, and a build agreement. The compilation agreement aims to find the most accurate result by collecting the data of the chosen oracles.
How Radix Uses Chainlink Oracles
Bringing multiple solutions to Mainstream DeFi’s problems, Radix is committed to ensuring that its developers and users can access the best of the best as soon as possible.
Radix has created a new form of “smart contracts” called “components”. These provide a new method of building DeFi applications that are designed specifically for the needs of finance. Because Components are inherently modular and composable, a special oracle Component can become a seamless gateway to Chainlink data for the Components our developers will build.In this way, In this way, developers can create high security DeFi pruducts and high priority and quality products to both their community and themselves with low fees.
The Features it Brings
- High-Quality Price Data
- Decentralized Oracles
- Sybil Resistant Nodes
Using oracle, Radix developers can start building a wide range of DeFi applications, such as financial derivatives that settle based on asset prices, decentralized lending products that use price feeds to issue fair market loans and maintain collateralization, asset management services that automate trades based on price movements, and much more.
“Giving Radix developers access to a wide range of high quality data is vital to our mission of providing the best infrastructure to build next generation DeFi products,” stated Piers Ridyard, CEO of Radix.
“We’re excited to empower developers to build next-generation DeFi applications on Radix’s innovative layer-1 protocol by providing them with secure and reliable oracle solutions,” said Daniel Kochis, Head of Chainlink Business Development.
Chainlink/Radix Integration Schema
The first phase of integration will consist of two parts:
1) Additions to the Chainlink Node software to allow it to connect directly to the Radix network
2) the creation of native Radix “smart contracts” required to generate Chainlink data
Chainlink/Radix integration to look like:
With this Integration, Radix developers and dApps will have up-to-date, validated data for atomic use in creating powerful DeFi transactions. They will have reserved tickets from the front row on the stage.
Meanwhile, the Token sale will continue until 22.10.2020.
For those who want to take advantage of this privilege, I leave the Token sale link below. You will also find Other links related to Radix.
Public Sale Link: https://tokens.radixdlt.com/
Official website: https://www.radixdlt.com/
Radix Official Twitter: https://twitter.com/radixdlt
Radix DLT Official Telegram: https://t.me/radix_dlt
Radix Whitepapers: https://www.radixdlt.com/#white_papers
Radix Blog: https://www.radixdlt.com/blog/