Chainlink To Be Used By Associated Press To Record Real-World Data On Blockchains

Source: Pixabay

It’s been just revealed that The Associated Press taps the decentralized oracle network Chainlink (LINK) in order to make the data accessible on leading blockchains.

Chainlink is a bridge that is able to bring off-chain info to blockchains and smart contracts.

The news agency said that it’s launching a Chainlink node that will enable it to supply and directly sell datasets on the US political elections, sports results, economic data, and business financials – all these will be used then by applications that are running on blockchains.

Smart contracts popularity is on the rise

This announcement comes with the increasing popularity of smart contracts which are designed to be tamperproof programs that will automatically execute outcomes when some conditions are met.

Chainlink is able to play a role in automating blockchain processes such as alerting markets about the calls on political races.

According to official notes, AP’s director of blockchain and data licensing Dwayne Desaulniers stated the following:

“Chainlink technology is the ideal way to provide smart contract developers anywhere in the world with direct, on-demand access to AP’s trusted economic, sports, and race call data.”

He continued and explained:

“Working with Chainlink allows this information to be compatible with any blockchain. The open-source software is reliable, secure, and widely used across leading blockchain networks.”

The latest crypto news

There are all kinds of bullish moves that are taking place in the crypto space these days, despite a correction that Bitcoin is currently seeing.

it’s been revealed that the waitlist for Robinhood’s recently announced crypto wallet now has more than one million customers, the company’s CEO recently stated.

This is demonstrating cryptos’ increasing importance to the trading app.

“We’re very proud of our cryptocurrency platform and giving people more utility with the coins they have,” Robinhood CEO Vlad Tenev said during CNBC’s Disruptor 50 summit on Thursday.

Stay tuned for more news.

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I am a technical writer, author and blogger since 2005. An industry watcher that stays on top of the latest features, extremely passionate about finance news and everything related to crypto.