Chainlink the fifth-largest cryptocurrency has been gaining a lot of interest lately and there are some good reasons why.
The cryptocurrency that brings real-world data to on-chain smart contracts has just announced that they are now integrating Cornell Universities privacy technology solution DECO into the cryptocurrency’s operations.
“Building a truly valuable smart contract requires the use of multiple inputs to prove contractual performance, as well as multiple outputs to affect outside systems and/or send payments to complete the smart contracts. Chainlink provides your smart contract with the inputs and outputs it needs to reach its full potential.”
DECO will give Chainlink the ability to boost its security features of HTTPS and TLS, which are the protocols that are required to send data over the Internet. By incorporating the DECO technology into their cryptocurrency they are gaining the advantage of transmitting data from various sources confidentially and tamper free.
Ari Juels, DECO’s creator and previous Chief Scientists of RSA will now become the Chief Scientist of Chainlink Labs.
Sergey Nazarov, Co-Founder of Chainlink has commented on the new development;
“We have long collaborated with Ari Juels; this acquisition enables us to fully integrate DECO’s unique data security capabilities within Chainlink, which already secures more than $3 billion in value, while also expanding the scope of what Chainlink/DECO validated data can now be used for, well beyond Blockchains.”
This new development from Chainlink will enable secure transfers of superior data into public Blockchains and decentralised finance platforms, making it easier too for businesses to prove the condition of private data without sharing any internal data.