Blockstack integrates Chainlink oracle solution to power its Clarity smart contracts.
In a blog post, Blockstack’s marketing partner Mitchell Cuevas state that Blockstack developers will soon be able to utilize Chainlin’s oracle technology.
In the post, Cuevas explained the details regarding Chainlink’s integration as well as the upcoming Stacks 2.0 mainnet launch.
Cuevas revealed that the work surrounding Chainlink’s integration would start immediately. He continued that the integration is expected to be completed in time for the Stacks 2.0 mainnet launch. He noted that while the initial integration will revolve around utilizing Chainlink’s price reference data, the integration will “evolve into a generalized oracle solution for Stacks 2.0.”
Benefits to Blockstack developers and Stacks 2.0
Chainlink integration will bring many benefits to Blockstack developers as it will allow them to design sophisticated smart contracts using Chainlink’s data library.
Moreover, developers will be able to access any off-chain application programming interface (API), premium data, and “credentialed enterprise systems.” The applications will also receive manipulation resistant oracle services through Chainlink’s collection of independent Sybil-resistant nodes.
According to CEO Muneeb Ali, Stacks 2.0 is a layer-1 blockchain with a native bridge connecting it to the Bitcoin blockchain. The blockchain utilizes Clarity programming language for its smart contracts that have cross-chain operability.
Muneeb noted that high-quality data feeds from Oracles are a significant factor for Clarity contract developers. He expressed his appreciation towards Chainlink in a Twitter post saying that Chainlink brings high-quality data feeds to blockchains which is essential for any blockchain that has smart contracts.
Chainlink and its native token LINK are enjoying a high rate of adoption as the network is becoming a go-to platform for reliable price data for many platforms. This is especially true for DeFi platforms including Kyberswap that adopted Chainlink oracles in June.
On the other hand, the LINK token is now available on MakerDAO as a collateral option. While the development received mixed feedback from the LINK community, the maker community supported the move.
LINK is currently trading at $9.23 and price is expected to drop further before holding support. You can read our latest LINK price analysis here.