- Chainlink unveils new partnership to integrate oracle services on the DLT platform Provide.
- Developers will be able to access premium Chainlink data, build on the platform and run Chainlink nodes.
- Price of Chainlink is up 15% in 24 hours after the announcement.
Chainlink has just announced a new partnership with the platform Provide Technologies. Through the partnership, Provide will integrate Chainlink’s oracle services into the Provide API and will be able to offer a low-code framework to build on.
According to the press release, developers who will benefit from the partnership will be able to access Chainlink data streaming using the Provide API. In addition, simple keyed deployment will be enabled for Chainlink nodes. Companies will also be able to consume premium data provided by Chainlink without having to use cryptocurrencies.
.@provideplatform, an enterprise low-code application platform for DLT, is integrating #Chainlink. This will make it even easier for enterprises to consume Chainlink oracle data, run & pay for Chainlink nodes, & develop new use-cases using @baselineproto. https://t.co/M1I64kcgyE
— Chainlink – Official Channel (@chainlink) August 3, 2020
Chainlink becomes standard for oracle services
According to the release, the partnership with Provide will further strengthen Chainlink’s position as “the de facto standard” for oracle services in smart contracts through the Baseline Protocol. In that sense, the partners said they will continue working to increase the support of the oracle API and nodes orchestration.
As a first step, Provide enabled the Provide API price reference data. This API can be deployed as a Docker container anywhere. In addition, it can be consumed using one of the Provide API clients. Additionally Provide’s partner, Unibright, will allow support for Chainlink oracles within the no-code zero-knowledge workflow. Chainlink’s Head of Business Development, Daniel Kochis further outlines:
We’re excited to accelerate the adoption of Chainlink oracles in the enterprise space by working with Provide. They not only offer enterprises an API for consuming Chainlink data and turn-key deployment of Chainlink nodes but Provide helps abstract away the use of cryptocurrency by allowing enterprises to pay with traditional payment methods while still facilitating native crypto payments to blockchain infrastructure providers.
Provide founder and CEO Kyle Thomas highlighted the work that Chainlink has done to position itself as the standard for oracle solution used by the blockchain sector and the enterprise sector. Thomas added the following:
We look forward to expanding the adoption of Chainlink throughout the enterprise world using our low-code framework, which allows enterprises to get Chainlink data, run a node, and pay for services using traditional methods with less upfront development work. This delivers the full advantage of Chainlink to the enterprise so it can focus resources on building their core applications.
In the last 24 hours after the announcement of the partnership with Provide, Chainlink’s (LINK) price hrose by 15.21%. At the time of publication, LINK is trading at $9.62 with weekly gains of 36.07% and monthly gains of 100.26%. Thus, LINK reached its maximum annual price and became one of the biggest winners in the top 20 of cryptocurrencies.