Highlights
- A Chainlink Community Grant has been awarded to Protofire to natively integrate Chainlink oracles into IoTeX’s IoT-focused blockchain
- IoTeX’s developer community will now be able to build advanced #dApps to leverage real-world data and off-chain computation.
The Chainlink Framework
Chainlink is an open source protocol framework for creating hybrid smart contracts through decentralized services such as Proof of Reserve, Verifiable Randomness, Keepers, Price Feeds, and Connectivity to any web API. These services are used to ensure that the information that is fed to on-chain smart contracts is tamper-proof and reliable. Chainlink was developed by Chainlink Labs which was formerly known as Smart Contract Ltd. founded in 2014 by Sergey Nazarov and Steve Ellis. On June 1st, 2019 it went live on the Ethereum mainnet. It has expanded to support additional blockchains and layer 2 networks.
IoTeX and Protofire
IoTeX is an open-source blockchain that has been custom-built to support Internet of Things (IoT) use cases. The IoT allows great interconnection and benefits to people. It also makes people vulnerable to governments and corporations who can track activities and misuse the data. IoTeX envisions a world of interactions between humans and machines with complete privacy and control over their data which they have called the Internet of Trusted Things.
Protofire is a team of engineers who provide consultancy and development services related to blockchains such as developer tools, smart contracts, and decentralized protocols.
The Chainlink Community Grant Program
The Chainlink Community Grant Program empowers startups, social impact programs, researchers, and developers with financial grants to develop a more accessible and functional Chainlink Network. Protofire has already successfully completed grants for the integration of Chainlink with blockchains such as Avalanche, Plasm, Celo and xDai. They have also created a Chainlink testnet faucet for EVM-compatible chains. Their previous experience and familiarity with the process of integration with Chainlink make them the ideal partner for the integration of Chainlink with IoTeX.
The Future Benefits Of The Grant
IoTeX will be able to use the integration with Chainlink’s decentralized oracle technology to build more advanced hybrid smart contract applications. This will help developers to create products, applications and automated smart contracts that have off-chain inputs securely.
Coingecko lists Chainlink at #14 and LINK with a price of $31.55 down -4.9% in the last 24 hours. The 24-hour trading volume has been $1,080,660,512. The circulating supply is 460 Million LINK coins which have a total supply of 1 Billion.
IOTX is listed at #118 on CoinGecko. Its price is $0.108337 down -5.4% in the last 24 hours. The 24-hour trading volume has been $124,819,934. IOTX has a circulating supply of 9.5 Billion IOTX coins and a total supply of 9.5 Billion.
