Ocean Protocol, a decentralized data exchange protocol to unlock data for AI, today announced it will be integrating Chainlink, a decentralized oracle network that enables smart contracts to securely access off-chain data feeds.
The Ocean protocol requires a high-quality, reliable oracle service in order for its smart contract (or keeper contract) to access the necessary off-chain information to trigger certain transactions (such as awarding on-chain contract tokens to people who supply datasets off-chain).
Solutions such as Chainlink create a decentralized oracle network for Ocean to securely access off-chain information, there is an added layer of trust and reliability because it does not rely on any one single entity.
“As a decentralized platform, Ocean cannot rely on the off-chain information source from one single entity to make its decision. For example, Ocean needs to randomly choose a participant to reward tokens, but the method of choosing this recipient should not be controlled by any single person or entity. Otherwise, the Ocean network would be susceptible to being manipulated by attackers.”
Chainlink provides a secure, decentralized and therefore tamper-proof “blockchain middleware”, while also being an easy way to access the multiple inputs and outputs needed by a complex smart contract. By greatly simplifying how smart contracts can securely access key off-chain resources, Chainlink accelerates the development of increasingly useful smart contracts.