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Chainlink Bags Another Partnership with Chinese Blockchain Project: Details

Nervos Network integrates Chainlink’s decentralized oracle solution

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Chinese blockchain project Nervos has joined forces with Chainlink to use its decentralized oracles for ensuring blockchain interoperability, according to an Aug. 17 Medium blog post

This is the latest project that decided to integrate Chainlink’s solution instead of relying on third-party data feed providers that lead to security concerns as noted by Nervos co-founder Terry Tai:

“Chainlink not only greatly expands the amount of data our developers can use when building on Nervos, but it gives them the tools to secure this new surface in a highly secure and reliable manner.”

Unlocking new use cases

Nervos is a two-layer blockchain that separates performing transactions from computations. Layer 1 is based on the proof-of-work consensus algorithm while layer 2 allows creating new applications and protocols, thus combining the main advantages offered by Bitcoin and Ethereum. 

The project raised $72 mln during a token sale that took place in October 2019. Back in May, it also announces a virtual incubator for startups that build decentralized applications.

The new partnership will allow Nervos developers to incorporate real-world market data, which, in turn, opens the doors to new use cases that can span insurance, gaming, and other industries, according to Chainlink founder Sergey Nazarov:

“We’re excited to help integrate Chainlink’s secure and reliable oracles into Nervos, opening up a wide array of next-generation data-driven applications built on Nervos’s innovative layer-1 architecture. By making off-chain data resources available on-chain, Nervos can now offer more value to both its developers and users, leading to additional use cases in DeFi, Gaming, Insurance, and more.”

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Chainlink boasts more than 35 oracle networks that offload data feeds from various markets. 

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BSN adds Nervos and Chainlink 

Last month, China’s government-backed Blockchain Service Network (BSN) group announced its support for six public blockchains that include Nervos and Chainlink, signaling its ambitions to dominate in this rapidly evolving industry.

BSN is expected to expand the list of available blockchains to up to 100 networks in the span of one year.

In June, Chainlink also made headlines after its decentralized oracles were integrated by BSN. 

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Alex Dovbnya

Alex covers all things crypto — from major projects, which are fighting tooth and nail to gain the upper hand in the burgeoning industry, to the latest regulatory trends around the world. He’s a firm believer that Blockchain has the potential to reshape pretty much every business out there, and cryptocurrencies are only a stepping stone to the upcoming decentralized revolution.