TomoChain Publisher
Oct 2 · 3 min read

What is an Oracle?

An oracle is a way for a blockchain or smart contract to interact with external data. With blockchains being deterministic one-way streets, an oracle is a path between off-chain and on-chain events. Oracle functions on both ends: bringing real-world data to the blockchain, and at the same time, informing actors off-chain of events that occurred on-chain.

TomoChain and Chainlink

Chainlink is a decentralized oracle network that enables smart contracts to securely access off-chain data feeds, web APIs, and traditional bank payments. Chainlink acquires access to credible data sources and then provides them to large enterprises and leading smart contract development teams in a highly secure and reliable manner. Along with key working relationships to Google, Oracle and SWIFT, Chainlink is consistently selected as one of the top blockchain technologies by leading independent research firms.

Integrating with Chainlink allows TomoChain to harness real-time information. Smart contracts will have access to a wide range of informational databases, including market prices, exchange rates, sports scores, and more. Furthermore, by allowing developers to consume and transmit oracle-obtained data between smart contracts and run independently as node operators, ChainLink’s oracles will also contribute to TomoChain’s decentralized nature.

A major purpose of connecting TomoChain with Chainlink is the innovation of data-driven smart contracts that helps dApp developers expand and customize products to meet market demand. Enabling smart contracts to interact with external data helps expand the scope and impact of blockchain applications across unique use-cases for enterprise and mass-market solutions.

Given their drive to build data-driven smart contracts with real-world impact, Chainlink is excited to collaborate with TomoChain in order to provide their developers with secure and reliable access to off-chain data and systems.” states Daniel Kochis, Global Head of Business Development at Chainlink

TomoChain’s ecosystem can benefit greatly from the decentralized oracles that ChainLink provides. I am excited to collaborate with the talented team from ChainLink to support dApps and projects building on top of TomoChain’s public chain” states Long Vuong, CEO of TomoChain.


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About TomoChain

TomoChain is built on a performance layer that achieves high transaction speeds without compromising decentralization. TomoChain uses an innovative consensus method called PoSV (Proof of Stake Voting) which gives an incentive to all TomoChain token-holders to play an active part in staking across a network of 150 high-quality masternodes, and to monitor their performance and governance actively. Its staking-governance dApp, TomoMaster, is recognized as one of the leading staking platforms in the industry.

TomoChain

Welcome to TomoChain blog. Follow us to get the official news and good reads from TOMO team. Clap along if you feel like a room without a roof!

TomoChain Publisher

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TomoChain

TomoChain

Welcome to TomoChain blog. Follow us to get the official news and good reads from TOMO team. Clap along if you feel like a room without a roof!

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