The Oracles and Smart Contract Technology of Chainlink a sharp increase in adoption and demand in 2020.
The latest is Ontology , a blockchain-based global business solution based in Singapore that has worked closely with the NEO Foundation and launched its main network in 2018.
“Last mile” solution
According to a tweet from Chainlink , Ontology will use Oracle technology and the former's verifiable price streams to capture data for various use cases.
Initially, the integration will unlock new data management capabilities for Ontology , through "the integration of ONT ID, Ontology's digital identity framework and the ONTO portfolio into a range of dApps and infrastructure 'business".
Ontology ( ONT ) presents itself as a high-performance public blockchain and distributed collaboration platform that enables a decentralized network environment that solves key identity security and data integrity issues.
Building a “last mile for blockchain apps,” Ontology was one of the few crypto projects that never had an ICO. Instead, ONT was released in three large tranches and quickly gained in value during the year.
At the time of publication, ONT is trading at $ 0.66 and has a network value of $ 460 million, making it the 30th largest market-capitalized cryptocurrency in the world.
Significant validation of the code
In a blog post, Ontology said that Chainlink integration is live on Ontology TestNet, and then allows developers to build smart contract apps connected to real-world data.
Chainlink recognized that the Ontology team had engaged "meaningful code" in the project repository before integration, even by rewriting Chainlink contracts in Ontology's native Python smart contract programming language .
Ontology co-founder Andy Ji spoke about development:
" Ontology's high efficiency and low transaction costs , combined with Chainlink's ability to consistently deliver safe and reliable oracles, constitute a powerful combination that will lead to mutually beneficial results for our respective platforms and communities."
Ji added Chainlink's “stellar track record” by providing Oracle solutions to two established companies, such as Google, Oracle and SWIFT, and startups make Chainlink the “undisputed market-leading oracle decentralized network”.
Mesh oracles can also be integrated into HydraDAO of Ontology , the open framework of the knowledge processing project, in the near future. This would allow for greater data accuracy in smart contracts, interactions between chains, and collaboration between data sources, the blog noted.
Meanwhile, Chainlink is on a roll. The blockchain agnostic platform has recently been recognized as one of the top 50 tech disruptors for this year by the World Economic Forum (WEF) for its work in smart contract technology and oracles.
The project sees at least five partnerships or technological integrations per week for its verifiable random function (VRF) and its oracles, if updates on the Twitter link of Chainlink are envisaged.
