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Fetch.ai integrates Chainlink’s oracles on the mainnet
Fetch.ai integrates Chainlink’s oracles on the mainnet
Blockchain

Fetch.ai integrates Chainlink’s oracles on the mainnet

By Amelia Tomasicchio - 8 Oct 2020

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Today Fetch.ai, a UK-based artificial intelligence company that aims to create a decentralised machine learning network, announced the integration of Chainlink’s oracles into the mainnet.

Daniel Kochis, Head of Business Development at Chainlink, explained:

“Any developer building on Fetch.ai will soon have access to smart contracts powered by tamper-proof market price data. AI is an incredibly powerful technology and properly combining it with decentralized computation will require high-quality off-chain data to trigger on-chain logic, which is the exact problem Chainlink solves.”

The reason for this choice lies in the Cambridge-based company’s desire for accurate real economy data to be brought on-chain, with the assurance that information and prices are not manipulated.

Humayun Sheikh, CEO of Fetch.ai, said:

“By integrating Chainlink into the Fetch.ai network, we are taking the necessary steps needed to further couple real-world data with autonomous software. This in turn will speed up the adoption of Fetch.ai autonomous software agents and provide the necessary information for them to communicate with sophistication in real-life scenarios.”  

Chainlink data will be used by Fetch.ai to provide insights on the Gold:USD and Silver:USD pair on Mettalex, a trading platform for derivatives, cryptocurrency and commodities.

“By referencing Chainlink’s price feeds on assets and commodities such as Gold and Silver we will be able to enhance the relationship between traders on Mettalex’s first of its kind commodities exchange. Not only will this provide a safeguard against price manipulation but it will also serve as a market reference for the changing prices of the worlds most traded commodities”, continued the CEO of Fetch.ai.

Chainlink and the latest news from Fetch.ai

Fetch.ai recently launched the Random Number Beacon on Binance Smart Chain to provide incorruptible sources of randomness for decentralised applications. The beacon has been integrated with the Ethereum test network and is also compatible with all Cosmos chains.

In addition, in mid-August Bitfinex launched Catalyst Sales for the token sale of the project. It is a technological solution to support sales in secondary markets and the first to benefit from it was Fetch.ai, which was listed on the exchange at the beginning of the month.

 

Amelia Tomasicchio
Amelia Tomasicchio

As expert in digital marketing, Amelia began working in the fintech sector in 2014 after writing her thesis on Bitcoin technology. Previously author for Cointelegraph and CMO at Eido. She is now the co-founder and editor-in-chief of The Cryptonomist.

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