Ethereum-compatible ThunderCore (TT) have announced a collaboration with Chainlink (LINK) to incorporate their oracle service into their smart contracts in order to access relevant off-chain information that is needed to activate transactions within certain contracts.
— Chainlink – Official Channel (@chainlink) June 14, 2019
The news came shortly after Google confirmed they will utilise Chainlink in their own hybrid cloud-blockchain applications.
We’re thrilled to share that Google is one of the great companies integrating #Chainlink into their approach to smart contract adoption. Here’s how @GCPcloud users can use Chainlink to connect to BigQuery, one of Google’s most popular cloud services. https://t.co/TfaGPP5TlS
— Chainlink – Official Channel (@chainlink) June 13, 2019
External Data for Contract Activation
As explained in a recent ThunderCore blog post, blockchain smart contracts require a trigger to activate them. This trigger is often the outcome of an event or market related data but because this evidence comes from off-chain, the source and input of that information must be correct and trusted by all the parties involved in the contract.
Chainlink provides the necessary bridge to real world evidence for the likes of ThunderCore and Google by being a decentralised oracle service that has the same security guarantees as the smart contracts running on those platforms. By using multiple verifiers of information, Chainlink data is viewed as being secure, reliable and trustworthy.
On the other side of the digital data bridge, Chainlink is capable of seamlessly connecting to various payment gateways and traditional fiat or cryptocurrency banking systems to complete any financial elements contained within a smart contract.
The public announcements of adoption of Chainlink have led to significant increases in both the company’s token price and overall market capitalisation.