South Korean internet giant, the owner of, among others, KakaoTalk, one of the most popular messaging applications in Asia, and Chainlink, an industry-leading blockchain company trying to solve smart-contracts problems real-world data sources, are joining forces.
What is Klaytn
Klaytn is a public blockchain platform owned by Kakao. It aims to help implement blockchain services for mass use. It is simple to use and user-friendly, allowing users to make full use of services without much expertise in blockchain or cryptocurrency. Klaytn is on its way to reaching millions of users and since it is one of the projects of a company as big as Kakako, it has a chance to achieve this.
— Klaytn (@klaytn_official) May 18, 2020
Beginning of cooperation
Chainlink starts to support Klaytn smart-contracts so that they connect with resources outside the blockchain (off-chain). The biggest problem with smart-contracts is that blockchain can only compute contracts on the basis of the data already stored in it. Chainlink is a structure that aims to build a network that ensures data integrity and delivery for a specific contract. It is also very important that it is able to perform these activities in complete security. Chainlink co-founder Sergey Nazarov ensures that Chainlink will be able to provide the Klaytn ecosystem with just such security.
Oracle’s secure platforms
“Oracle” is a piece between blockchain and off-chain. It allows blockchain to find out what is happening in the real world. With this allows intelligent contracts can use this information for more advanced activities. They are an extension of smart contracts, so they must be as secure as the underlying blockchain. Chainlink is to allow Klaytn to develop more advanced products in an increasingly diverse market.
Recent improvements in Chainlink technology will allow smart-contracts to provide evidence that applications use a tamper-proof source of randomness. This is expected to bring practical benefits to the blockchain gaming industry by making them more reliable. Chainlink is the first oracle available on the market. It’s constantly evolving, which is undergoing continuous improvement. It is also one of the most promising projects on the market, as combining blockchain with the outside world seems to be now another natural step in the development of such solutions.