announce The CasperLabs project has partnered with the Chainlink project to securely and reliably access data and resources for all applications that are built on the CasperLabs blockchain.

As such, Chainlink will be the first and recommended Oracle provider for all applications that will be developed on the CasperLabs blockchain.

In turn, CasperLabs will be the first platform to use Chainlink as a core component of the platform’s infrastructure.

Extending CasperLabs functionality with Chainlink:

CasperLabs is building a next-generation blockchain to be fully decentralized with scalability.

The CasperLabs team has since November 2018 delivered and built 18 development releases on time.

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CasperLabs’ TestNet beta network was launched on March 31, 2020, and the mainnet is scheduled to launch in the third quarter of 2020.

CasperLabs is a general purpose platform designed for entrepreneurs and businesses, so CasperLabs requires a modern, secure, flexible and proven means of bringing the real world to it via Chainlink.

Chainlink from Oracle has implementation experience, as well as access to a robust ecosystem of high-quality data providers and Oracle contract operators.

CasperLabs developers can use Chainlink’s unique framework to build decentralized oracle networks to ensure strong data security.

By integrating Chainlink, CasperLabs will be able to create a user-friendly economic environment, as well as empower developers with a whole new subset of tools and applications.

Expected Transaction Fee:

One of the main challenges facing business users of blockchain platforms is the volatility and unpredictability of transaction fees.

CasperLabs is taking a first step to meet this challenge by launching its own mainnet with fee risk mitigation mechanism, the goal being to integrate the CasperLabs platform into core business infrastructure to be free from the worry of fees from builders and developers.

Upon launch of the mainnet, CasperLabs will provide the first fiat-denominated stable fee mechanism to be used as a general purpose blockchain platform.

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This planned integration with Chainlink will give trusted access to the secure and decentralized Oracle network, providing the market data that will make this mechanism possible.

Bridge to Institutions:

Blockchain technology is still new to traditional businesses and organizations.

Creating a reliable system for consuming data from legacy systems will mitigate the risk of migrating decades-old components to this still emerging technology.

These components may include job candidate tracking systems, financial settlement systems and medical records.

Although entirely new uses for the blockchain are expected, facilitating the setup and experimentation process for the organization is expected to bring about surprising synergies between legacy commercial infrastructure and blockchain technology.

Chainlink provides Oracle with the ability to process API credentials via external switches, as well as more advanced TIE features.

Enable developers:

To unlock the future value of blockchain platforms, companies must be able to go beyond purely digital decentralized applications and interact with the real world.

Secure access to external data and API services will enable developers to develop and implement decentralized applications of the future through fully automated insurance contracts for complex risks and decentralized markets.

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Technical integration details:

Madha Parlekar, Director of the Technical Office of CasperLabs, said:

CasperLabs builds a blockchain designed for businesses.

Chainlink’s decentralized oracle network will enable us to represent transaction fees in currency against tokens, making budgets simple and efficient for businesses.

As Ashok Ranadev, Director of Programmers at CasperLabs said:

CasperLabs offers several features that are specifically designed to address businesses, for example “flexible payment code” and “multi-signature weighted keys”.

Our integration with Chainlink is crucial to helping us resolve the underlying concern hindering mass adoption of the blockchain by businesses, and the unpredictability of prices.

By providing a stable transaction price, we can help companies deliver a predictable value proposition to their customers, opening up many opportunities.

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