Kaiko becomes official node operator and data provider for Chainlink’s network of decentralized oracles
Tags: Featured, Blockchain, Chainlink, Cryptocurrency, Startup

A few months ago we announced our partnership with Chainlink, outlining plans to integrate Kaiko’s cryptocurrency market data with Chainlink’s decentralized network of blockchain oracles, providing a consistent and secure market data source for smart contracts. Today, we are proud to announce that this integration is complete.

Kaiko is now an official data provider for Chainlink. This enables us to provide our cryptocurrency market data to Chainlink’s decentralized oracle network, which will in turn feed smart contracts with our real-world data feeds. We will also contribute to Chainlink’s security and decentralization as an official node operator.

Last week, Chainlink went live on Ethereum’s mainnet, a huge step for the larger smart contract ecosystem. Chainlink has positioned itself to solve the “oracle problem”, a roadblock in the long-term adoption of smart contracts. Chainlink provides a solution to the inherent constraints of decentralized, tamper-proof node networks through their decentralized oracle network.

Smart contracts are digital contracts that provide a new and more secure form of agreement, guaranteeing execution through cryptographic and game theoretical means. They are run on decentralized, tamper-proof node networks such as Ethereum; thus, do not enable external connectivity. Smart contracts for industries such as insurance, international trade, and finance rely on external information, such as pricing and supply data, which does not natively exist on a blockchain. In order for smart contracts to be useful in the real world, they require external inputs of information. An “oracle” is a third-party information source that allows smart contracts to access off-chain data.

Chainlink’s network of decentralized oracles enables smart contracts to securely access off-chain data feeds, web APIs, and traditional bank payments. Instead of relying on a single oracle — or a single point of failure — to feed smart contracts with external information, Chainlink has developed a decentralized network of independent nodes to perform computations about the accuracy of external information before it is written into a smart contract.

Reliable cryptocurrency market data is one of the first decentralized oracle networks made available on the Ethereum mainnet. Market prices are used to determine the outcome of many types of financial agreements, thus must be present on-chain as more and more financial products become decentralized. Kaiko will be one of several cryptocurrency market data providers contributing to the provision of reliable data for smart contracts.

At the current moment, all our recent trade and aggregate data is available on the Ethereum mainnet. For information on how to get started today, see the documentation for the Kaiko Chainlink. Don’t hesitate to reach out to us if you have any questions and suggestions.

The Kaiko team is excited to take part in the smart contract revolution and we will be working closely with Chainlink in the coming months as they continue development.

Additional Information:

Website: www.kaiko.com

Documentation: https://docs.kaiko.com/#introduction

API: https://www.kaiko.com/pages/market-data-api

Historical Data: https://www.kaiko.com/pages/historical-data

Newsletter: http://eepurl.com/c7WUVv

Blog: https://blog.kaiko.com/

Twitter: https://twitter.com/KaikoData

Contact Form: https://www.kaiko.com/pages/contact-1