0Chain to Integrate Chainlink, Connecting Ethereum dApps to Decentralized Data Storage
We are excited to announce that 0Chain, a high-performance decentralized storage network, will integrate Chainlink, the industry-leading decentralized oracle network, as core infrastructure for connecting 0Chain to Ethereum and various other blockchains and external systems. The integration will involve multiple use cases, such as leveraging Chainlink Price Feeds, Metadata Mapping, Cloud Data Feeds, and Cross-Chain Verifications.
In order for decentralized applications (dApps) to offer users meaningful services, a smart contract must be able to access accurate and reliable data in a secure manner. Look no further than DeFi and NFT dApps, which use price feeds, randomness, and numerous other verifiable datasets to trigger their on-chain logic. Since blockchains only provide information about internal state, oracle networks like Chainlink are critical for enabling dApps to fetch external data from other blockchains or traditional APIs so it can be used natively on their underlying blockchain.
In the case of 0Chain, oracles are critical for allowing blockchains to directly tap into our decentralized storage network in an automated, chain-agnostic manner that’s both highly secure and reliable. This will allow 3rd party blockchain dApps to use and/or check the state of data streams and objects stored on 0Chain, which can then cross trigger on-chain actions. Thus, enterprises can leverage Chainlink’s oracles for up-to-date information while also using 0Chain’s fast retrieval dStorage as a chain independent storage layer, truly removing their need for centralized storage platforms.
Oracles can also be used as external independent verifiers of data stored on 0Chain’s network and communicating the same across chains for resident dApps of such chains to consume. For example, independently verifying if data is still stored correctly or if a blobber (storage provider) is within the specific geolocation they claim to be in and maintains stated response times.
Chainlink comes in as the premium oracle solution for blockchain projects leveraging 0Chain. Chainlink provides numerous advantageous features including:
- Secure Oracles — Chainlink has a large pool of security-reviewed, Sybil resistant node operators run by professional DevOps teams with a long track record of reliability even during extreme network congestion and market volatility.
- Decentralized Infrastructure — Chainlink oracle networks are decentralized, creating redundancies to ensure oracle services are highly available, manipulation resistant, and precise.
- Transparent Monitoring — Chainlink provides a robust reputation framework and set of on-chain monitoring tools that allow users to independently verify the historical and real-time performance of node operators and oracle networks.
- Universal Connectivity — Chainlink is permissionless, open-source infrastructure that is blockchain and API agnostic, enabling bidirectional communication between any blockchain environment, as well as triggering from any dApp or off-chain API.
“We’re excited to provision a multitude of secure oracle solutions for 0Chain’s decentralized storage solution to accelerate its adoption. The bi-directional communication capabilities of Chainlink oracle networks can enable 0Chain’s data storage capabilities to be leveraged across various different blockchains,” said Daniel Kochis, Head of Partnerships at Chainlink Labs.
Mo Siam, 0Chain Director of Operations, noted that “Data storage pricing has thus far been opaque and controlled by a few incumbents. 0Chain’s unique architecture not only brings fast data retrieval to decentralized storage, but also a marketplace for data storage where multiple servers bid their storage capacity for users to consume. This collaboration has the capacity to expand DeFi with new product offerings, such as cloud TCO insurance, and disrupt the pricing model and visibility of a whole industry. Moreover, it speeds up our efforts in availing our decentralized storage layer across blockchains in a chain-agnostic manner. We are excited about the future of this collaboration and the potential it holds”
The 0Chain roadmap has seven (7) levels of integrations with Chainlink. In no particular order, we have highlighted a few and aim to expand on these integrations in future announcements:
- ZCN Price Feeds: Chainlink oracle networks will publish a ZCN Price Feed denominated in USD. Upon 0Chain’s mainnet launch, 0Chain Blobbers will publish their read and write ask prices on 0Chain in ZCN tokens that’s adjusted for USD pricing via the Chainlink Price Feeds.
- MetaData Mapping: Chainlink nodes can publish metadata pulled from 0Chain Sharders onto Ethereum or other blockchains, such as confirming the state and geolocation of data storage. Conversely, metadata can be mapped from other blockchains onto 0Chain too, such as new data storage requests.
- Cloud Data Feed: 0Chain’s flexible architecture enables organizations, individuals, and developers to customize their storage offerings based on their needs. As GDPR continues to disrupt the routine storage of data, enterprises will have access to localized cloud data feeds which provide statistical information such as pricing, capacity, reliability, and speeds for different geographic regions via Chainlink oracles.
Chainlink is the industry standard oracle network for powering hybrid smart contracts. Chainlink Decentralized Oracle Networks provide developers with the largest collection of high-quality data sources and secure off-chain computations to expand the capabilities of smart contracts on any blockchain. Managed by a global, decentralized community, Chainlink currently secures billions of dollars in value for smart contracts across decentralized finance (DeFi), insurance, gaming, and other major industries.
Chainlink is trusted by hundreds of organizations, from global enterprises to projects at the forefront of the blockchain economy, to deliver definitive truth via secure, reliable oracle networks. To learn more about Chainlink, visit chain.link, subscribe to the Chainlink newsletter, and follow @chainlink on Twitter. To understand the full vision of the Chainlink Network, read the Chainlink 2.0 whitepaper.
0Chain is a high-performance decentralized storage network designed to eliminate business threats such as censorship, privacy liability and data breach. 0Chain helps entities achieve GDPR compliance, localization, tokenization and monetizes private data sharing.
The decentralized platform offers high performance, high quality of service, collaboration, localization, and streaming to address a broad spectrum of applications.