In what may be described as its most important partnership till date, Chainlink partnered with Chinese State’s Blockchain-based Services Network (BSN) on June 23 for provision of decentralized data oracles to assist with security, reliability and inter-connectivity, further helping growth and adoption of blockchain technologies.
China’s national Blockchain Services Network (#BSN) is integrating Chainlink as the preferred oracle network to provide @BSNBase systems access to off-chain data. As part of this collaboration, @irisnetwork and @SNZHolding will also contribute technical integration support.— Chainlink – Official Channel (@chainlink) June 23, 2020
This integration will allow enterprises and developer teams opportunity to integrate real world data to BSN based projects using Chainlink oracles via the IRITA interchain service hub (consortium blockchain product of Cosmos/IRIS SDK). The professional Proof Of Stake (POS) pool SNZ will run nodes to support the operation. This multi-party collaboration will allow BSN developers to access high quality data to make their applications more useful and connected.
Yifan He, CEO of Red Date Technology and BSN co-founder, stated that the integration team plans to unveil a working demo soon. “One of the main purposes of BSN is to provide interoperability to all DApps, regardless of whether they are for permissioned chains or public chains. On BSN, each Dapp should be able to call any other Dapps in a very convenient and low-cost way. This collaboration with Chainlink, IRITA, and SNZ Pool will help us achieve this goal and ensure that BSN users reach new levels of security, reliability, and inter-connectivity.
Sergey Nazarov, co-founder of Chainlink, stated, “We’re excited to help build out BSN’s global infrastructure project by providing secure and reliable oracle services. By connecting BSN applications to real-world data, smart contracts can bring new levels of automation and trust to global agreements.”
About Blockchain-based Services Network (BSN)
Blockchain-based Services Network or BSN is a cross cloud, cross portal blockchain infrastructure network (integrating cloud resources, frameworks, operating environments, identity and certificate management, development SDK and gateway API etc.) designed for companies / corporations to access low-cost blockchain cloud computing services and deploy / manage all kinds of DApps. It is a consortium of major Chinese corporations namely the China’s State Information Center, China Mobile, China Union Pay and Red Date Technologies (which oversees research/development, maintenance and operation of the network).
Chainlink is a decentralized data oracles service, which connects smart contracts to off-chain real world events information. The oracles are secure, resistant to manipulation and thus reliable. The main product Chainlink price reference contracts consists of 30 DeFi price feeds, on the Ethereum network, each consisting of 7 to 21 secure, independent Sybil resistant nodes, sourcing data from a high quality aggregator.