- Smart contract platform, Agoric, launches data integration with Chainlink
- The integration is expected to improve reaction speeds and product development
- Agoric allows users to build DeFi apps with Javascript rather than blockchain native languages
Agoric, a smart contract platform built on Javascript, has announced a collaboration with Chainklink to improve its services. Chainlink is important as a decentralized network with extensive data on activity, performance, and prices integrated into the Agoric platform. Onchain finance – the process of financial compliance for decentralized systems – moves quickly. It is expected this data integration will improve responses to external events, as well as aid product development and overall platform performance.
Agoric’s integration with Chainlink is live on its testnet with a full launch expected across its Cosmos mainnet by 2021. CEO Dean Tribble highlighted this is the first time Javascript has been available in this capacity. Tribble noted numerous perks: ‘JavaScript smart contracts can directly query and react to events based on Chainlink oracles. This combination brings information-rich DeFi dapps to market more quickly.’ Daniel Kochis, Chainlink’s business development head, agreed this was ‘an incredibly important step’ in enabling smart contracts can respond to real-world, off chain data.
Why is this latest collaboration special for DeFi?
Decentralized Finance (DeFi) has become an increasingly popular semantic in the last 18 months. It involves decentralized, distributed ledger technology (DLT) doing the work traditionally performed by banks. DeFi can perform financial services like assessing loans and interest on deposits.
It is unusual, however, to develop a DLT application using traditional coding languages. Ordinarily, DeFi and other blockchain-based applications would run on a native programming language such as Solidity (Ethereum’s language for smart contracts). The Agoric platform lets users build in Javascript, a coding language many will be familiar with in other contexts. As previously reported, recent Ethereum gains were thought to be due to demand for its Solidity applications. The platform will no doubt note this latest Agoric development.
