IRISNet Collaborates With Chainlink in Supporting Interchain Interoperability

IRISNet Collaborates With Chainlink in Supporting Interchain Interoperability

IRISNet announced a new partnership with Chainlink aiming at using real-world data to support operations between blockchains. The new collaboration includes adding Chainlink’s oracle to IRIS Hub as a module.

“Interoperability focused blockchain @irisnetwork is building a Chainlink “oracle” module into the @cosmos SDK. Using this module, developers can access #Chainlink oracles for trusted quality data on the IRIS Hub,” tweeted Chainlink.

More Accurate Operations Across Multiple Blockchains

Developers use IRISNet solutions to make decentralized applications that work through multiple blockchains. They need secure and reliable data feeds as the necessary input to operate more reliably. IRISNet chose Chainlink as the leading oracle solution provider, so the developers can now make smart contracts using it. Besides, the IRISNet teams want to add this oracle to Cosmos SDK so that all Cosmos SDK blockchains can take benefit from that.

The integration of Chainlink’s oracle in IRIS Hub is mainly beneficial for developers needing of-chain data for their products.

“We recommend it as the preferred oracle solution for IRISnet developers, given its proven security guarantees and reliable data quality. The combination of IRISnet and Chainlink opens up many real-world applications across numerous markets,” said IRISNet in the announcement post.

Collaboration between Chainlink and IRISNet is also a good point for enterprises looking for blockchain solutions. Chainlink develops an oracle network for trusted execution environments or TEE. This computing environment focuses on the privacy and security of projects that run within it. The first working versions of Chainlink’s TEE based oracles are now in use in Town Crier. IRISNet wants to combine its enterprise services with Chainlink’s TEE.

TEE solutions are helpful for blockchain projects in the medical industry, too. As IRISNet explains:

“Chainlink’s TEE-based oracles allow medical information to be passed between two parties hosting an application on IRISnet without sacrificing patient confidentiality. This medical information can lead to a more efficient distribution of medical resources and better tracking of reported cases in an epidemic.”

DeFi applications and IRIS Services named iService can use the new oracle solution to get access to more accurate data feeds, too. Developers on IRIS Hub can use Chainlink’s oracle via a module called “oracle” in Cosmos/IRIS SDK.

If you found this article interesting, here you can find more Blockchain and cryptocurrency news