Ontology, based in Singapore, the high-performance blockchain and distributed collaboration platform has successfully completed a native integration with Chainlink a decentralized oracle network that enables smart contracts to securely access off-chain data feeds, web APIs, and traditional bank payments on June 22.
The integration, currently lives on the Ontology TestNet, will allow Ontology developers to build smart contract applications connected to real-world data. To facilitate the integration, the Ontology team committed significant code to the Chainlink repo, rewriting Chainlink contracts in Ontology’s native Python smart contract programming language.
The deployment of Chainlink’s decentralized oracle network will open up a new wave of development that will bridge Ontology’s on-chain applications with off-chain resources. The initial focus will be on creating new data management capabilities for Ontology, through the integration of ONT ID, Ontology’s digital identity framework, and the ONTO wallet into a range of dApps and enterprise infrastructure.
Ontology is also exploring the possibility of integrating multiple Chainlink oracles into HydraDAO – its open framework for knowledge processing – as a means of enabling stronger data accuracy within smart contracts, cross-chain interactions, and cross-data source collaboration. This would also allow for the reading of off-chain events and other blockchains, while also facilitating cross-chain payments.
Andy Ji, Co-founder of Ontology said, “Integrating Chainlink’s decentralized oracle protocol is a significant step that will boost Ontology’s ecosystem, creating a more robust and scalable platform for our expanding community. Ontology’s high-efficiency and low transaction fees, combined with Chainlink’s adept ability to consistently provide secure and reliable oracles is a potent combination that will drive mutually beneficial outcomes for our respective platforms and communities.”
Commenting on the announcement, Adelyn Zhou, CMO and Head of Chainlink Marketing, said, “Having spoken at Ontology’s ‘Future of Blockchain in China’ event in New York last November, I am excited about the platform’s vision for broadening the accessibility of blockchain applications globally. We’re thrilled to expand the capabilities of the Ontology ecosystem by providing our unique set of secure and reliable oracles. The connection of real-world data and legacy infrastructure will allow Ontology to increase the value captured through its many enterprise on-chain applications.”
Ontology delivers a fast, user-friendly platform with a unique infrastructure that supports robust cross-chain collaboration, providing businesses with the tools to design their own secure blockchain solutions. Powered by the Ontology Token (ONT), the distributed collaboration platform allows businesses to enjoy the benefits of smart contracts and tokenization while retaining control of their sensitive data.
“Chainlink has demonstrated a stellar track record in providing bespoke oracle solutions to leading global enterprises including Google, Oracle, and SWIFT. This experience underlines Chainlink’s credentials as the undisputed, market-leading decentralized oracle network. This collaboration marks another milestone in our platforms’ long-standing and fruitful relationship and we are excited to see this integration come to life,” concluded Ji.
