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IOV Labs integrates Chainlink
IOV Labs integrates Chainlink
Blockchain

IOV Labs integrates Chainlink

By Marco Cavicchioli - 31 Aug 2020

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IOV Labs announced the integration of Chainlink’s decentralized oracles into the RSK and RIF ecosystems. 

The integration will allow RSK developers to access price and data feeds generated outside the blockchain for use as input in Bitcoin-based smart contracts.

RSK and RIF’s technical teams are currently working to integrate the Chainlink protocol at the infrastructure level so that oracles can be used without external dependencies on other blockchains. For now, however, the integration is only live on the testnet

IOVlabs is developing blockchain technologies for a new global financial ecosystem that promotes opportunity, transparency and trust. The organization is currently developing RSK Smart Contract Network, RSK Infrastructure Framework (RIF) and Taringa! Platforms.

In particular, RSK Network is a secure smart contract platform designed to leverage Bitcoin’s hashpower. RSK Infrastructure Framework (RIF), on the other hand, is a suite of open and decentralized infrastructure protocols that allow faster, simpler and more scalable development of dApps within a unified environment. 

RIF Gateways, one of the core components of RIF, will provide a simplified and unified experience for developers to access any oracle or data service that brings information from the outside world to the blockchain. 

On the other hand, the integration will also extend Chainlink’s capabilities, extending its network of operators to the Bitcoin blockchain, demonstrating the feasibility of implementing technology protocols that can run on multiple blockchains, creating bridges between different existing platforms.

The head of RIF Gateways, Julian Rodriguez, said: 

“Chainlink is as synonymous with oracles as RSK is with Bitcoin smart contracts. By combining the two, developers can capitalize on a smart contract network that’s anchored to the strongest Proof of Work blockchain, and connected to the best decentralized oracle solution on the market. The synergies between Chainlink and IOV Labs are extensive, and we look forward to exploring ways to enhance the utility of RSK and RIF by building upon Chainlink’s best-in-class oracle service”.

The head of Chainlink’s Business Development, Daniel Kochis, commented: 

“The blockchain space has long wanted to build smart contracts anchored to the security of the Bitcoin blockchain. We’re excited to collaborate with the IOV Labs team making that a reality by providing RSK with secure and reliable oracles to empower more useful smart contract applications that fully integrate with widely used data resources and systems”.

Marco Cavicchioli
Marco Cavicchioli

Class 1975, Marco teaches web-technologies and is an online writer specializing in cryptocurrencies. He founded ilBitcoin.news, and his YouTube channel has more than 25 thousand subscribers.

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