ETC Labs Partners With Chainlink To Integrate Decentralized Oracles On Ethereum Classic

2020-2-28 16:34

Ethereum Classic top developer, ETC Labs, partners with Chainlink to integrate decentralized data oracles on the ETC blockchain. The official announcement reads,

“Ethereum Classic Labs is excited to announce our collaboration with Chainlink to bring decentralized oracles to Ethereum Classic.”

Currently, Ethereum and Ethereum Classic blockchains do not interact with off-chain data which limits the smart contract due to “underlying consensus mechanisms that maintain specific behavior in the network.” However, the new integration will allow the blockchain to feed off data from other blockchains and external sources.

Chainlink decentralized oracle on Ethereum Classic?

As explained in the announcement, oracles solve the problem of connecting to off-chain data by creating a bridge between blockchains and other sources. Oracles allow the interconnectivity of blockchains by reformatting APIs and pulling data into the smart contract enabling the users to execute instructions from the external systems.

Blockchains have had to deal with the issue of introducing centralized oracles on their platform, which puts the whole decentralized system in jeopardy. Remember, a blockchain is as strong as its weakest link, and the introduction of centralized oracles may cause a loophole in security. Hence the selection of Chainlink, which provides decentralized oracles, on Ethereum Classic.

Chainlink will bring decentralization to both the data source and the data retrieval process allowing users to source data from multiple data points or setting multiple oracles to gather data from one data source. This allows the system to prevent a single point of failure attack.

Future of Ethereum Classic and Chainlink collaboration

The integration of decentralized oracles is the first stem to fully enjoying the benefits that Chainlink offers. So far, Ethereum Classic will leverage the Price Reference Contract on Chainlink to retrieve ETC/USD prices from the 21 decentralized oracles on Chainlink.

More updates will be offered as the development of the platform continues.

Chainlink (LINK) currently trades at $3.91 USD, representing a 4.07% gain in the past 24 hours. The latest addition to the Chainlink platform, ETC, trades at $7.42 USD, representing a sharp loss of 4.55% in the past day.

Ethereum (ETH) Live Price 1 ETH/USD =$227.6079 change ~ -3.49%

Coin Market Cap

$25.01 Billion

24 Hour Volume

$3.83 Billion

24 Hour VWAP

$228

24 Hour Change

$-7.9370 var single_widget_subscription = single_widget_subscription || []; single_widget_subscription.push("5~CCCAGG~ETH~USD"); origin »

Ethereum Classic (ETC) на Currencies.ru

$ 0 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: 0.00 %
Cегодня L: $0 - H: $33.89
Капитализация $0 Rank 99999
Цена в час новости $ 7.494 (-100%)

classic ethereum oracles etc decentralized chainlink labs

Источник: bitcoinexchangeguide.com

classic ethereum → Результатов: 126


BlockDAG’s Testnet Sparks 1820% Surge in Coin Value: Is it a Threat to Ethereum Classic and Render’s Market Positions?

The cryptocurrency landscape remains as dynamic as a rollercoaster, characterized by exhilarating peaks and abrupt declines across major projects. In this ever-shifting market, Ethereum Classic (ETC) is on an upward trajectory, bolstered by a bullish outlook, while Render (RNDR) encounters barriers and struggles to make headway amid the fluctuations.

2024-9-28 20:30


Хешрейт Ethereum Classic взлетел за месяц на 200%

Вычислительные мощности сети Ethereum Classic растут на протяжении последних нескольких недель. Аналитики связывают такую тенденцию с подключением майнеров, которые выходили из эфириума перед форком Merge.

2022-9-15 12:12


Фото:

Innosilicon выпустила новую прошивку для майнинга Ethereum Classic на ASIC. В чём её особенность?

Июль 2022 года можно смело называть месяцем Ethereum Classic. И хотя в целом рынок криптовалют продолжает своё затяжное падение, ETC не обращает внимание на ...

2022-7-29 15:20


Фото:

Команда Ethereum Classic даст возможность майнить криптовалюту видеокартам на 3 ГБ

Август 2020 года для проекта Ethereum Classic выдался непростым. Сеть криптовалюты стала жертвой серьёзной атаки 51 процента, причём не один раз. В результате из-за действий хакеров и масштабного сплита майнеры потеряли много часов работы и денег. Разработчики отреагировали на проблему....

2020-10-1 15:35


Японские биржи отказываются от Ethereum Classic

Японская криптовалютная биржа bitFlyer объявила, что с сегодняшнего дня она прекращает принимать депозиты в Ethereum Classic. Компания написала: «В целях защиты клиентов мы остановим депозиты криптовалюты Ethereum Classic (ETC), неоднократно подвергавшейся реорганизациям вследствие атак 51%.

2020-9-17 10:00


дальше еще 77 новостей →

Партнеры Currencies.ru



Реклама на Currencies.ru

Самое свежее на Currencies.ru

Chainlink Touts 2022 Triumphs, Will LINK Skyrocket in 2023?

Blockchain oracle provider Chainlink has had a bumper year in terms of milestones and achievements. However, LINK prices are still dormant. The post Chainlink Touts 2022 Triumphs, Will LINK Skyrocket in 2023? appeared first on BeInCrypto.