Ontology announces a new partnership with Chainlink

Blockchain project, Ontology, will be partnering with Chainlink, the data-driven smart contracts platform.
Ontology will be looking to leverage Chainlink’s distributed ledger technology-based (DLT) market offerings.

Ken Chigbo Independent Analyst

Ontology, blockchain project announced that they have partnered with data-driven smart contracts platform Chainlink.

The partnership will see Ontology leveraging its distributed ledger technology-based (DLT) market offerings. The Oracle Problem Per sources close to the matter, the newly announced partnership will look to provide a solution to what the Ontology network calls the “oracle problem.

As per the blog post it details:

The blog post reads in part: “The oracle problem is centered around creating the same level of tamper-proof security for the off-chain connection that currently exists on the underlying blockchain. The reason being that a compromised oracle almost certainly means its connected smart contracts are equally compromised. As a result, a centralized oracle model can put the security of a smart contract in jeopardy because it negates the benefits of end-to-end decentralization.

Author

Ken Chigbo

Independent Analyst

Ken has over 8 years exposure to the financial markets. He started his career as an analyst, covering a variety of asset classes; forex, fixed income, commodities and equities.

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