Chainlink, the network that operates a decentralized oracle powered by the latter which has become one of the best cryptocurrencies by total market capitalization, has announced the acquisition of DECO, an Oracle security protocol created by faculty and students at Cornell University.

Chainlink has also appointed Cornell University professor Dr. Ari Jewels as chief developer at Chainlink Labs to oversee DECO’s integration with the project’s Oracle.

Chainlink has not disclosed how much it has paid for this new technology and protocol, nor has it announced Professor Jewels’ salary.

The DECO protocol has been created. as an initiative From Cornell University, interested in digital currencies and smart contracts.

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As a reminder, Chainlink is a decentralized oracle network that allows smart contracts to use data from external sources, more privately.

With DECO, smart contracts can prove the origin and status of confidential information transmitted through Oracle, without forcing the user to give up their personal data.

You can use “DECO” for more privacy and smoother handling.

DECO technology uses:

Financial institutions can use DECO to establish an account balance without actually announcing the contents of the account.

Using this technology, the border agent can also prove that you are a Saudi citizen without having to access your passport.

stated Sergey Nazarov, co-founder of Chainlink, said:

DECO enables a significant expansion in the quality and breadth of data that can now be made available to public blockchains.

DECO will help new types of collateral to access DeFi

There is a lot of private data associated with collateral in the real world, such as the status of an invoice, property ownership, or some other secured asset.

DECO-enabled Chainlink oracles can prove to a smart contract that the state of the asset is capable of fulfilling it, without revealing private or personal proprietary information on the public blockchain.

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The same speaker added:

This expansion will continue to make data available and drive the creation of new globally connected smart contracts, such as decentralized finance, decentralized insurance, global trade, and various enterprise use cases that are now compatible with public blockchains and semi-private federation networks.

Essentially, Chainlink will enable the DECO-enabled oracle to mature and reach its next growth stage.

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Newcomer to the Chainlink team Dr. Jewels is currently a Professor of Computer Science at Cornell University and was previously Chief Scientist at RSA Cyber ​​Security, a Massachusetts-based digital risk management and cybersecurity firm.

In 1999, Dr. Jewels contributed to the formalization of the Proof of Work account and was a co-author of the Chainlink white paper along with Sergey and Steve Ellis.

Jewels said in a statement:

Our strong focus on cutting-edge research for highly trusted blockchain-based systems and data provider Oracle.

I think Chainlink is in an ideal position to introduce DECO.

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