We are pleased to announce that QDT will be launching our own Chainlink node to make our premium AI analytics and predictions for crypto available to developers building on various smart contract platforms. Chainlink is the industry-leading secure blockchain middleware for getting existing APIs compatible with blockchain networks. Through our Chainlink node, we can broadcast our data and predictive analytics directly onto leading blockchains, as well as cryptographically sign our data to provide on-chain proof that it originated from the QDT API.
Developers will be able to call the QDT Chainlink node to get daily BTC price predictions that have been generated through specialized AI and ML deep learning algorithms. These signals can be leveraged by developers to automate new data-driven smart contract applications on blockchains, particularly useful for institutional traders and investors. For example, developers can create on-chain trading strategies that trade BTC or that rebalance portfolios based on crypto price prediction forecasts. This gives users the ability to make real-time decisions in an automated manner using time-tested signals.
Why we chose Chainlink to get QDT’s APIs Blockchain-Enabled
With more enterprises and large trading firms joining decentralized finance markets (referred to as DeFi) and interacting directly on various blockchains, we saw an opportunity to make our data available to smart contract developers and expand the use-cases for our technology. Smart contract developers can use our predictive data to trigger automated trades and actions in order to stay ahead of the curve, hedge various risks, and/or manage their investment portfolios in an automated fashion. However, smart contracts have no built-in ability to call external APIs, thus we require a middleware solution known as a blockchain oracle to bridge QDT data into blockchain networks.
After examining different oracle solutions, we identified Chainlink as the most mature, secure and reliable option. Chainlink’s infrastructure already has many leading on-chain dApps and off-chain data providers relying on it to buy and sell data between one another. As a data provider, some of the unique features available through the Chainlink node that stood out include:
- Data Integrity – Our Chainlink node will cryptographically sign all data we supply on-chain to verify its origin, preventing man-in-the-middle attacks and making it more reliable for automating the movement of on-chain value.
- Blockchain Agnostic – Our Chainlink node is compatible with any blockchain environment, serving a single gateway to sell data to any current or future blockchain.
- Widely Adopted – Chainlink is the most mature and widely used oracle network in the blockchain industry, providing access to a vast addressable market of potential data consumers.
- Provably Secure – Chainlink is thoroughly audited open-source software that already secures billions of dollars in value, showcasing its ability to trigger the automation of high-value smart contacts live in production.
“We’re excited to leverage our own Chainlink node as a means of quickly expanding into the blockchain industry and selling our high-quality crypto and traditional price predictions to innovative smart contract developers,” said Rajiv Chandrasekaran, CEO and Founder of QDT. “Not only will this extend our addressable market as a data provider by opening up previously inaccessible blockchain markets, but it can show how AI and smart contracts can be fused to support financial decision making that’s intelligently automated and enduring.”
What does QDT’s collaboration with Chainlink mean for the future of Finance?
As mentioned, one of the major challenges faced on the blockchain is the onboarding of off-chain data. While our initial scope is to bring BTC price prediction signals onto the blockchain, the larger vision is to offer our extensive library of off-chain data to smart-contract developers.
Our Data Lake has 150,000+ unique sources from the following categories:
- Alternative – e.g. Apple Mobility, Airport Traffic, COVID case and death rate
- Bonds – e.g. Treasuries, Government Bonds, Overnight Rate
- Commitment of Traders – e.g. Hedge Fund positions, Long/Short, Spreads
- Commodities – e.g. Energy, Industrials, Agricultural
- Cryptocurrencies – e.g. Bitcoin, Ethereum, Binance Coin
- Currencies– e.g. USD, EUR, YEN
- Equities – e.g. NYSE, Nasdaq, London Stock Exchange
- Fundamentals – e.g. Car Production, Oil Production, Housing Index, Import/Export
- Indices – e.g. Equities, Commodities, ETFs
- Interest Rates – e.g. Gov, Corp
- Macroeconomics – e.g. GDP, Unemployment, Inflation, Gov Debt
- News – e.g. Headlines from 170 different news sources (Bloomberg, API Newswire, Thomson Reuters, etc.)
- Shipping – e.g. Freight Rates, Vessel Tracking, Vessel Types
- Technicals – e.g. Moving Averages, Bollinger Bands, Oscillators
- Weather – e.g. Precipitation, Wind, Temperature
Our aim with Chainlink is to make this vast array of data available across the blockchain. Our goal is to dramatically broaden the scope of available data categories and types, and set the stage for huge growth and mainstream adoption of the DeFi ecosystem.
Chainlink is the most widely used and secure way to power universally connected smart contracts. With Chainlink, developers can connect any blockchain with high-quality data sources from other blockchains as well as real-world data. Managed by a global, decentralized community of hundreds of thousands of people, Chainlink is introducing a fairer model for contracts. Its network currently secures billions of dollars in value for smart contracts across the decentralized finance (DeFi), insurance and gaming ecosystems, among others.
Chainlink is trusted by hundreds of organizations to deliver definitive truth via secure, reliable data feeds. To learn more, visit chain.link, subscribe to the Chainlink newsletter, and follow @chainlink on Twitter.
Quantum Data Technologies is an engineering company with a passion for using advanced technology to solve complex business problems. We are fascinated with the pursuit of innovation and to constantly push the boundaries of what’s possible with AI, Big Data, and Machine Learning. Our core product, Quantum ML, is a data platform that uses machine learning to predict the movement of financial instruments such as stocks, bonds, indices, fiat currencies, cryptocurrencies, commodities, ETFs, and more. Quantum ML utilizes data from 150,000+ unique sources such as global exchanges, financials, macroeconomics, and fundamentals, to automatically generate and backtest ML-driven strategies that inform financial and trading decisions.