IRITA Hub Completes the Mainnet Integration of Chainlink Oracles on BSN
IRITA Hub, developed by the IRISnet core development team, 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.
About BSN
BSN is a cross-cloud, cross-portal, and cross-framework global public infrastructure network used to deploy and operate all types of blockchain-based distributed applications (dApps). Its blockchain infrastructure service layer is designed to be a one-stop-shop for companies to access low-cost blockchain cloud computing services. It’s supported by major Chinese entities and corporations, and its founding consortia partners include China’s State Information Center, China Mobile, China UnionPay, and Red Date Technologies.
About IRISnet
IRISnet is an interchain service hub for next-generation distributed applications. Built with Cosmos/IRIS-SDK, IRISnet enables cross-chain interoperability through a unified service model.
About Chainlink
Chainlink is the most widely used and secure way to power universally connected smart contracts. With Chainlink, developers can connect any blockchain with high-quality data sources from other blockchains as well as real-world data. Managed by a global, decentralized community of hundreds of thousands of people, Chainlink is introducing a fairer model for contracts. Its network currently secures billions of dollars in value for smart contracts across the decentralized finance (DeFi), insurance and gaming ecosystems, among others.
Chainlink is trusted by hundreds of organizations to deliver definitive truth via secure, reliable data feeds. To learn more, visit chain.link, subscribe to the Chainlink newsletter, and follow @chainlink on Twitter.
About SNZ Pool
SNZ Pool is a professional PoS operator and provider dedicated to providing professional Proof of Stake (PoS) mining pool services. We are committed to minimizing the complexity of working as a PoS validator, and to maximizing the stability and security of running a PoS validator. Since 2018, we’ve been running nodes for over 20 major PoS projects. We aim to make the PoS validator as easy as possible.
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