Back to all posts

Everstake Deploys Its Oracle Service on the Chainlink Network: Real-World Data Becomes Closer to the Blockchain

Nearly every breakthrough in the history of mankind was achieved through enormous challenges. Chainlink is one of those companies pioneering the advancement of smart contracts by seamlessly and securely connecting a wide range of data and systems to blockchain networks via its decentralized oracle network. 

Such complex technological solution requires additional efforts from other market players. Everstake recognizes the importance of supporting decentralized oracles and thereby is deploying its own oracle node on the Chainlink network. The Everstake node will further increase security and data reliability across the network. Moreover, our company aims to develop and support the existing and future ecosystem infrastructure.

Chainlink’s decentralized oracle network allows smart contracts to deploy a quorum of nodes to retrieve data outside the blockchain (off-chain) and/or execute actions on external systems. Users can then incorporate aggregation strategies for the responses to ensure there is no single point of failure.

For example, Chainlink’s ETH/USD oracle reference data network uses 21 independent Chainlink nodes to retrieve the ETH/USD price from a multitude of sources. It is then aggregated together using an average and uploaded on to the blockchain (on-chain). Any smart contract can query this smart contract for free to get an up-to-date price for ETH/USD. Not only does this provide more accurate market prices to DeFi applications, but it protects price feeds against a single oracle going off-line or being bribed.

Our team is excited to be a part of the Chainlink ecosystem, and as a professional validator, Everstake will contribute its efforts to the stability and decentralization of the network. Our services are backed with a team of experienced developers, DevOps engineers, and cybersecurity experts.

Sergii Ropchan, the CTO of Everstake: ‘We are ready to pursue this endeavor because we believe that by supporting such a blockchain ecosystem we can create a more secure environment for financial operations, as well as reliable data transfer.”

The collaboration allows our company to participate in decentralized oracle services which ensures the correctness of operations related to the smart-contracts. Moreover, starting from Q1, 2020 we are beginning development on an analytics tool designed specifically for the Chainlink ecosystem which will gather and analyze essential network information.

We hope that our actions will lay a strong foundation for the development of the Chainlink ecosystem, bringing the company to the new industry heights in the near future.

Learn More

Chainlink

Chainlink is a decentralized oracle network that enables smart contracts to securely access off-chain data feeds, web APIs, and traditional bank payments. Chainlink is consistently selected as one of the top blockchain technologies by leading independent research firms such as Gartner. It is well known for providing highly secure and reliable oracles to great companies like Google, Oracle, SWIFT, and many other large enterprises, as well as many of the world’s best smart contract projects/teams such as Web3/Polkadot, Synthetix, Loopring, Kaleido, OpenLaw, Reserve, and many more. 

Learn more by visiting the Chainlink website, Twitter or Reddit. If you’re a developer, visit the developer documentation or join the technical discussion on Discord.

Everstake

Everstake is a staking service provider that operates in a wide range of Proof of Stake blockchains, providing customers with numerous staking options to choose from. Being on the market since the EOS mainnet launch, Everstake was able to achieve a high reputation of stable and secure block producer due to its efforts and in-depth team experience. At the moment, the company holds $860,180,000 in staked digital assets and it is planning to expand its operations further by connecting dozens of new PoS blockchains to the platform.

* * * 
Follow news and updates from Everstake by subscribing to the newsletter on our website and join the discussion on our social channels through the links below.
Previous post Next post