Home CryptoCurrency News Chainlink News Decentralized Storage Network 0Chain Will Integrate Chainlink for Cross-Chain Functionality

Decentralized Storage Network 0Chain Will Integrate Chainlink for Cross-Chain Functionality

0Chain, a decentralized storage platform built on the 0ChainNet blockchain, will integrate Chainlink as the core infrastructure to connect 0Chain to Ethereum and various other blockchains and external systems. This will be a multi-step integration.

0Chain announced the news in a blog post on Tuesday, June 8th. According to the announcement, there will be 7 levels of Chainlink integration that include leveraging Chainlink Price Feeds, Metadata Mapping, Cloud Data Feeds, and Cross-Chain Verifications.

0Chain is a high-performance decentralized storage network that provides automated data privacy compliance, continuous protection, and secured sharing of applications. The network offers two protocols: 0Chain Privacy Protocol and a cloud-based decentralized storage protocol, dStorage, on 0ChainNet blockchain. The platform is currently live in beta net and the mainnet launch date is not yet available.

0Chain privacy protocol provides the customer’s ownership and control of data. The dStorage platform is a native smart contract platform on 0ChainNet, which is a permissionless, fast finality, scalable blockchain built from scratch in Golang.

According to the whitepaper, 0ChainNet protects its network with a Nonlinear Proof-of-Stake protocol and prevents blockchain stalls from DDoS attacks by using multiple leaders. Client protection is accomplished through a Serverless 2FA protocol for individuals and a cryptographic multiple signature protocol for exchanges and businesses.

0chain-project

The Chainlink integration aims to connect 0Chain to Ethereum and various other blockchains and external systems so that they can tap into its decentralized storage network in an automated, chain-agnostic manner. The blog post reads:

“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.”

The 0Chain roadmap has seven levels of integrations with Chainlink. Some of them include ZCN price feeds, MetaData Mapping, Cloud Data Feeds that will provide enterprises with statistical information such as pricing, capacity, reliability, and speeds for different geographic regions via Chainlink oracles, and Cross-Chain Verifications.

0Chain said that it selected Chainlink as its core infrastructure due to its proven security, manipulation resistance, transparent monitoring, and universal connectivity. Mo Siam, 0Chain Director of Operations, commented:

“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.”

On the other hand, Chainlink has also announced that its price feeds oracle network will now also provide real estate valuation data to DApp developers through two premium data providers, SmartZip and PropectNow.


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Atiq Ur Rehman
Electronics Engineer with a passion to write about Disrupting Technologies like Blockchain. He joined Crypto-Economy in July 2019.
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