{"id":140638,"date":"2020-07-31T17:00:18","date_gmt":"2020-07-31T16:00:18","guid":{"rendered":"https:\/\/cryptoslate.com\/?p=140638"},"modified":"2022-01-15T01:11:18","modified_gmt":"2022-01-15T01:11:18","slug":"chainlink-link-oracles-are-now-powering-dapps-on-near-protocol","status":"publish","type":"post","link":"https:\/\/cryptoslate.com\/chainlink-link-oracles-are-now-powering-dapps-on-near-protocol\/","title":{"rendered":"Chainlink (LINK) oracles are now powering dApps on NEAR Protocol"},"content":{"rendered":"<p><span style=\"font-weight: 400;\"><a href=\"https:\/\/cryptoslate.com\/coins\/chainlink\/\">Chainlink\u2019s<\/a> decentralized oracles have launched on <a href=\"https:\/\/cryptoslate.com\/ethereum-2-0-competitor-raises-21-million-from-a-top-tier-crypto-venture-capitalist\/\">NEAR Protocol<\/a>, a sharded, developer-friendly, proof-of-stake public blockchain that\u2019s going head to head with Ethereum.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">As per an announcement yesterday, Chainlink\u2019s oracle service is now available on the NEAR platform to allow developers to build infrastructure for building future applications, such as dApps.<\/span><\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Blockchain platform <a href=\"https:\/\/twitter.com\/NEARProtocol?ref_src=twsrc%5Etfw\">@NEARProtocol<\/a> has integrated <a href=\"https:\/\/twitter.com\/hashtag\/Chainlink?src=hash&ref_src=twsrc%5Etfw\">#Chainlink<\/a> live on testnet. NEAR developers can now use Chainlink&#39;s large collection of secure nodes, external adapters for premium APIs, Price Reference Data and more to build universally connected dApps. <a href=\"https:\/\/t.co\/KxpUdt0p9C\">https:\/\/t.co\/KxpUdt0p9C<\/a><\/p>\n<p>&mdash; Chainlink &#8211; Official Channel (@chainlink) <a href=\"https:\/\/twitter.com\/chainlink\/status\/1288854743738208256?ref_src=twsrc%5Etfw\">July 30, 2020<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<h2><b>Oracles and VRF provide dApp benefits for millions<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">NEAR said Chainlink is the \u201cmost versatile off-chain connectivity in Web3,\u201d pointing out its use by the \u201ctop\u201d DeFi projects in the space such as Synthetix, AAVE, and others.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The firm added oracles allow developers with access to a large decentralized collection of security-reviewed nodes, essential for connecting to any premium data source derived from credentialed APIs.<\/span><\/p>\n<figure id=\"attachment_140640\" aria-describedby=\"caption-attachment-140640\" style=\"width: 2048px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-140640\" src=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2020\/07\/Near-Diagram_V3-1-1-2048x1147-1.png\" alt=\"\" width=\"2048\" height=\"1147\" srcset=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2020\/07\/Near-Diagram_V3-1-1-2048x1147-1.png 2048w, https:\/\/cryptoslate.com\/wp-content\/uploads\/2020\/07\/Near-Diagram_V3-1-1-2048x1147-1-300x168.png 300w, https:\/\/cryptoslate.com\/wp-content\/uploads\/2020\/07\/Near-Diagram_V3-1-1-2048x1147-1-1024x574.png 1024w, https:\/\/cryptoslate.com\/wp-content\/uploads\/2020\/07\/Near-Diagram_V3-1-1-2048x1147-1-768x430.png 768w, https:\/\/cryptoslate.com\/wp-content\/uploads\/2020\/07\/Near-Diagram_V3-1-1-2048x1147-1-1536x860.png 1536w\" sizes=\"(max-width: 2048px) 100vw, 2048px\" \/><figcaption id=\"caption-attachment-140640\" class=\"wp-caption-text\">Image: NEAR Protocol<\/figcaption><\/figure>\n<p><span style=\"font-weight: 400;\">In terms of proven solutions \u2014 Chainlink\u2019s existing oracle design patterns already secure hundreds of millions and can be easily deployed on NEAR to allow contracts to obtain price references from other sources.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Another beneficial Chainlink feature is that of on-chain verifiable randomness. The function, launched earlier this year, allows for \u201ctruly random\u201d picks in a set of data, which avoids any bias or fault when utilizing any information\/data for application usage.<\/span><\/p>\n<h2><b>A \u201ckey\u201d building block<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">Illia Polosukhin, Co-Founder at NEAR Protocol, explained the importance of the Chainlink integration:<\/span><\/p>\n<blockquote><p><b>\u201cChainlink integration provides NEAR with most versatile oracle network in the market, as well as the ability to connect to any off-chain API.\u201d<\/b><\/p><\/blockquote>\n<p><span style=\"font-weight: 400;\">He added oracles are a \u201ckey building block\u201d for connecting Web 2.0 and Open Web environments, which allow developers to build a \u201cmuch wider range of applications, ranging from decentralized financial products and NFTs\u201d to others.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The report added Chainlink, on NEAR, will be providing pricing data for DeFi applications by leveraging their Price Reference Data framework.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Other use cases include Open Web applications connecting to Chainlink\u2019s Web2 counter-parties to query their data on dApps for real estate, insurance, music, and others.<\/span><\/p>\n<h2><b>Oracles 101<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">Oracles are third-party services that provide a smart contract with external information. They serve as bridges between blockchains, as the latter can only store data, or verify its integrity.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Currently, Chainlink\u2019s oracles are leading and sought-after in the crypto space, as evidenced by the flurry of partnerships and integrations in recent months. They were launched in May this year.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Just last week, a <\/span><strong><a href=\"https:\/\/cryptoslate.com\/chainlinks-link-newest-partnership-is-bringing-crypto-adoption-to-mainstream-gamers\/\">gaming application<\/a><\/strong><span style=\"font-weight: 400;\">, an exchange, and a <\/span><strong><a href=\"https:\/\/cryptoslate.com\/chainlinks-link-latest-partnership-changes-how-digital-contracts-are-verified\/\">digital identity<\/a><\/strong><span style=\"font-weight: 400;\"> service integrated Chainlink oracles to bolster their offerings \u2014 all requiring the use of LINK to pay the latter.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">More significantly, China\u2019s Blockchain Service Network (BSN) also <\/span><strong><a href=\"https:\/\/cryptoslate.com\/china-bsn-releases-first-integration-plan-chainlink-ethereum-neo-feature\/\">onboarded its oracle service<\/a><\/strong><span style=\"font-weight: 400;\"> \u2014 alongside Ethereum, Nervos, NEO, and others \u2014 to build an \u201cinternet-linked blockchain\u201d in the country.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">While DeFi yields might be stealing most of the sentiment this year, Chainlink (and others) are showing tech developments are not far behind.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Chainlink\u2019s decentralized oracles have launched on NEAR Protocol, a sharded, developer-friendly, proof-of-stake public blockchain that\u2019s going head to head with Ethereum. As per an announcement yesterday, Chainlink\u2019s oracle service is now available on the NEAR platform to allow developers to build infrastructure for building future applications, such as dApps. Blockchain platform @NEARProtocol has integrated #Chainlink [&hellip;]<\/p>\n","protected":false},"author":65,"featured_media":140657,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[35,5789],"tags":[],"post_folder":[],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v21.9 (Yoast SEO v21.9.1) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Chainlink (LINK) oracles are now powering dApps on NEAR Protocol<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cryptoslate.com\/chainlink-link-oracles-are-now-powering-dapps-on-near-protocol\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Chainlink (LINK) oracles are now powering dApps on NEAR Protocol\" \/>\n<meta property=\"og:description\" content=\"Chainlink\u2019s decentralized oracles have launched on NEAR Protocol, a sharded, developer-friendly, proof-of-stake public blockchain that\u2019s going head to head with Ethereum. As per an announcement yesterday, Chainlink\u2019s oracle service is now available on the NEAR platform to allow developers to build infrastructure for building future applications, such as dApps. Blockchain platform @NEARProtocol has integrated #Chainlink [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/cryptoslate.com\/chainlink-link-oracles-are-now-powering-dapps-on-near-protocol\/\" \/>\n<meta property=\"og:site_name\" content=\"CryptoSlate\" \/>\n<meta property=\"article:published_time\" content=\"2020-07-31T16:00:18+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-01-15T01:11:18+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2020\/07\/chainlink-lighthouse.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"630\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Shaurya Malwa\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cryptoslate\" \/>\n<meta name=\"twitter:site\" content=\"@cryptoslate\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Shaurya Malwa\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"NewsArticle\",\"@id\":\"https:\/\/cryptoslate.com\/chainlink-link-oracles-are-now-powering-dapps-on-near-protocol\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/cryptoslate.com\/chainlink-link-oracles-are-now-powering-dapps-on-near-protocol\/\"},\"author\":{\"@type\":\"Person\",\"@id\":\"https:\/\/cryptoslate.com\/author\/shaurya-malwa\/#person\",\"name\":\"Shaurya Malwa\",\"url\":\"https:\/\/cryptoslate.com\/author\/shaurya-malwa\/\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/cryptoslate.com\/author\/shaurya-malwa\/\"},\"image\":{\"@type\":\"ImageObject\",\"@id\":\"https:\/\/cryptoslate.com\/author\/shaurya-malwa\/#authorimage\",\"url\":\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2018\/07\/author-shaurya-malwa.jpg\",\"contentUrl\":\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2018\/07\/author-shaurya-malwa.jpg\",\"caption\":\"Shaurya Malwa\"},\"jobTitle\":\"Analyst\",\"description\":\"Post-mining his first bitcoin in 2012, there was no looking back for Shaurya Malwa. 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