Klaytn Announces New Collaboration With Decentralized Oracle Chainlink

Klaytn, a blockchain project led by the South Korean Internet platform Kakao, announced on Wednesday it has formed a new partnership with Chainlink, a decentralized open-source oracle network that gives smart contracts secure and reliable access to data providers, web APIs, IoT devices, and payment systems.

Klaytn reported that by integrating the Chainlink network, its smart contracts can connect with resources outside the blockchain, enabling the creation of applications that are connected with real-world data and systems. Such connections may be utilized across a variety of markets, including decentralized finance and non-fungible tokens. While sharing more details about the partnership, Sangmin Seo, the Head of Platform Group at Ground X, heading the development of Klaytn, stated:

“Chainlink can provide Klaytn with a secure oracle framework for building blockchain applications that interoperate with traditional infrastructure, increasing our capacity to develop more advanced products across a more diverse set of markets.”

Sergey Nazarov, Co-Founder of Chainlink, went on to add:

“We look forward to providing the Klaytn ecosystem with secure and reliable oracles to enable the development of next-generation decentralized applications. Klaytn can accelerate towards its goal of blockchain mass adoption with the addition of real-world connectivity made possible by Chainlink oracles.”

As previously reported, Klaytn was developed by Kakao’s blockchain unit, Ground X. It is a public blockchain platform whose mainnet launched in June 2018. The platform notably partners with major firms and businesses as part of its Governance Council program to together run its distributed network under one shared governance.

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