Learn about ChainLink Partnership and Ontology Project Details
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Answer Learn about ChainLink Partnership and Ontology Project Details
Ontology announced its collaboration and partnership with ChainLink on November 25th.
The partnership aims to help Ontology smart contracts communicate on an external level.
For information, the Ontology project is similar to the NEO project in terms of providing an open blockchain, and the project is based in China.
However, rather than being just a general purpose smart contract platform, the project also focuses on the concept of digital identity such as: medical records and intellectual property.
The Ontology mainnet was launched in June 2018.
This is for the Ontology project.
As for the Chainlink project, it is a decentralized oracle network that allows smart contracts on any blockchain to connect to real-world data, events and payments.
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According to a post on the site Average Posted by the Ontology team talking about the new partnership and what Chainlink will bring, and excerpt from the post:
A blockchain is a self-contained ecosystem that can only perform a computation on the data already stored within it.
The oracle is a gateway to the outside world (outside the blockchain).
Oracle allows entry of off-chain data into the smart contract and output data to be pushed to external systems.
The post praised what the Chainlink project can provide in this regard as it said that the project provides answers to questions that the smart contract might contain about external events.
Such as: Did the goods arrive on time to the retailer?
Oracles also allows smart contracts to use this information to make changes in the real world, such as triggering a payment to the existing system when goods arrive.
The Ontology team says this partnership with Chainlink:
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It provides a new option for the Ontology ecosystem in terms of creating externally connected smart contracts, which have tremendous benefits for our developers and ecosystems.
Read also:
Learn about the details of the NEO Partnership and the new Ontology project
Learn about the details of Google’s partnership and ChainLink project
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