The Prophet node operator will provide real-world data for the Chainlink ecosystem. Hence decentralization continues.
Chainlink is rapidly growing. On November 5 they announced that the Prophet node operator has joined its team. Prophet is a project of crypto enthusiasts and early adopters of blockchain technology. Its main purpose is to connect off-chain data feeds and web APIs with smart contracts.
We're excited to welcome @prophet_node as the newest node operator to further decentralize the Chainlink network. They're backed by a team of blockchain enthusiasts and early adopters with a wealth of blockchain infrastructure experience. https://t.co/m8zUmat6A8
— Chainlink – Official Channel (@chainlink) November 5, 2019
The new collaboration will help Chainlink collect data and pass it to Prophet for a detailed study. The latter will use accurate Ether price from 18 different independent resources while assessing it for the implementation of the whole setup.
“Here at Prophet, we strongly believe in the future of smart contracts. But we can’t imagine it without a connection to real-world data and systems. That’s why we are inspired so much by Chainlink and decided to join them as a part of the decentralized oracle network,” Prophet’s team states.
Earlier, Prophet created Bake’n’Rolls that served as a Tezos delegation resource. Currently, Bake’n’Rolls has a 4.9 million Tez tokens in its stack. Further, the delegation service has been running on mainnet since its day of launch.
Prophet’s architecture can be found below.
About Chainlink (LINK) ecosystem
Chainlink was created by the San Francisco fintech organization SmartContract in June 2017.
Thus, Chainlink developers believe that smart contracts should be backed by data from external sources. So the company is building a secure and completely decentralized oracle system based on blockchain technology. It will allow connecting smart contracts with external (off-chain) sources of information.
Anyone who has a feed (the file with the product information is) or some service separately from the network, for example, a payment system, can provide them for the contract. Tokens will be provided in return.
Besides, the company is also actively integrating with big data providers like CoinGecko. The partnership will enable fast data movement between top exchange platforms.
Previously Altcoin Buzz covered Chainlink’s partnership with Tokenview.