{"id":199918,"date":"2021-09-27T11:00:27","date_gmt":"2021-09-27T10:00:27","guid":{"rendered":"https:\/\/cryptoslate.com\/?p=199918"},"modified":"2021-09-27T09:22:54","modified_gmt":"2021-09-27T08:22:54","slug":"cardano-ada-developers-can-now-leverage-chainlink-for-better-smart-contracts","status":"publish","type":"post","link":"https:\/\/cryptoslate.com\/cardano-ada-developers-can-now-leverage-chainlink-for-better-smart-contracts\/","title":{"rendered":"Cardano (ADA) developers can now leverage Chainlink for better smart contracts"},"content":{"rendered":"<p><span style=\"font-weight: 400;\"><a href=\"https:\/\/cryptoslate.com\/cardano-ada-defi-ecosystem-gets-a-100-million-boost-via-emurgo\/\">Cardano<\/a> is scaling up its decentralized finance (DeFi) smart contract development with a new partnership with Chainlink who will be providing the upgraded crypto asset with its oracle integration services for developers on the ecosystem.<br \/>\n<\/span><\/p>\n<p><span style=\"font-weight: 400;\">This was <\/span><a href=\"https:\/\/twitter.com\/IOHKMedia\/status\/1441811083874889728\"><span style=\"font-weight: 400;\">announced<\/span><\/a><span style=\"font-weight: 400;\"> by the parent company, InputOutput (IOHK), of the blockchain project at the Cardano Summit 2021.<\/span><\/p>\n<h2><b>Cardano Partners Chainlink for Smart Contract Developments<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">According to available information on the partnership, smart contract developers building on Cardano would have access to Chainlink Oracle to build their Defi smart contracts now.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The head of blockchain partnerships at Chainlink Labs, Niki Ariyasinghe, stated that the new partnership by both crypto firms would allow Cardano to use Chainlink to transfer tamper-proof data from off-chain sources to on-chain smart contracts.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Ariyasinghe continued that partnership is also coming at the \u201cright time\u201d considering the fact that the IOHK-backed digital asset just enabled smart contract support. This, he believes, would allow projects that would be worth billions of dollars to be locked on the Cardano protocol.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">You\u2019ll recall that Cardano just had its most recent upgrade, <a href=\"https:\/\/cryptoslate.com\/cardano-ada-welcomes-much-awaited-smart-contracts-with-launch-of-alonzo\/\">Alonzo<\/a>, which enabled smart contract development on its ecosystem.<\/span><\/p>\n<h2><b>Cardano Gets First Stablecoin<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">Interestingly, at the 2-days event, the IOHK team also <\/span><a href=\"https:\/\/iohk.io\/en\/blog\/posts\/2021\/09\/26\/coti-to-issue-djed-stablecoin-on-cardano\/\"><span style=\"font-weight: 400;\">revealed<\/span><\/a><span style=\"font-weight: 400;\"> that the nascent Defi space of Cardano would have its first Stablecoin.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Soon after this announcement, COTI, a software development company announced that it would be issuing the <\/span><a href=\"https:\/\/eprint.iacr.org\/2021\/1069.pdf\"><span style=\"font-weight: 400;\">Djed Stablecoin<\/span><\/a><span style=\"font-weight: 400;\"> that would be running on the platform.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Per available information, Djed\u2019s value would be kept stable through an algorithmic design that would be dependent on the smart contract design on the Cardano blockchain.<br \/>\n<\/span><\/p>\n<p><span style=\"font-weight: 400;\">It was also noted that the digital asset would be maintaining a reserve of base coins especially when new assets are being mined or burnt. This way, it would be able to counter any fluctuations that may arise.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The CEO of the COTI Group, Shahaf Bar-Geffen, said \u201cBlockchain participants are using stablecoins to engage in everyday transactions because they allow monetary value to be exchanged in a seamless manner, regardless of the sender and recipient\u2019s location.\u201d\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">He continued that he believes that the new Stablecoin would \u201csignificantly improve how transactions are settled on the platform.\u201d<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Cardano is scaling up its decentralized finance (DeFi) smart contract development with a new partnership with Chainlink who will be providing the upgraded crypto asset with its oracle integration services for developers on the ecosystem. This was announced by the parent company, InputOutput (IOHK), of the blockchain project at the Cardano Summit 2021. Cardano Partners [&hellip;]<\/p>\n","protected":false},"author":720,"featured_media":199917,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[46940,37],"tags":[75379,74600,76999,77000,76997],"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>Cardano (ADA) developers can now leverage Chainlink for better smart contracts<\/title>\n<meta name=\"description\" content=\"Cardano has partnered with Chainlink oracle for its smart contract developmen. 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