Why Streamr has integrated with Chainlink for reliable Oracles

Weilei Yu
Weilei Yu
Apr 29 · 4 min read

Streamr’s goal is to empower an open data common; decentralized, permissionless and accessible to any party.

There are no small challenges involved in building a robust oracle system, especially when, for the crypto space in particular, oracles represent critical pieces of infrastructure because they will provide real-world input that triggers irreversible smart-contracts settlements. For example, how can automated insurance payouts take place after a storm without accurate and reliable sources of truth around wind speed and rainfall?

Oracle examples, source chain.link

About Chainlink

Chainlink is a decentralized oracle network that enables smart contracts to securely access off-chain data feeds, web APIs, and traditional bank payments. The Chainlink team have a great technical reputation and are consistently selected as one of the top blockchain technologies by leading independent research firms such as Gartner. The project is also well known for providing highly secure and reliable oracles to both large enterprises (SWIFT) and leading smart contract development teams.

What Next?

As we approach the rollout of end-to-end encryption across the Streamr Network, we will be able to guarantee data privacy, via encryption, and an anti-tampering feature during its journey from publisher to subscriber. With the integration of oracle providers like Chainlink, some critical data streams will be able to offer assurance of data provenance, guaranteed by the robust system and reputation of each provider. This will make integrating data from the Streamr platform with on-chain smart contracts even more robust.

News from Streamr

Data done differently. The open source, blockchain-powered Network and Marketplace for real-time data. #Ethereum #Web3 #SmartCities #IoT. Follow us on Twitter, join our sub-Reddit, or chat with us on Telegram.

Thanks to Shiv Malik.

Weilei Yu

Written by

Weilei Yu

Head of Developer Relations at Streamr. Vision driven and bias for action. Crypto enthusiast and learning about ML as hobby.

News from Streamr

Data done differently. The open source, blockchain-powered Network and Marketplace for real-time data. #Ethereum #Web3 #SmartCities #IoT. Follow us on Twitter, join our sub-Reddit, or chat with us on Telegram.