Swipe platform collaborates with decentralized Oracle network Chainlink to add more features for users.
Swipe platform in partnership with Chainlink now offers Swipe users access to Chainlink’s decentralized price feed oracles. This particularly includes Chainlink’s ETH-USD price reference contract. As well as, a custom-built decentralized price reference network for SXP-USD, representing Swipe’s native token.
Besides, with the integration Chainlink’s oracle solution allows Swipe to create a stable, yet decentralized bridge between reliable off-chain prices and Swipe’s on-chain transactions. This reportedly gets done using multiple Chainlink oracles to evaluate the same data point. Thus, eliminating one oracle being a single point of failure or absolute truth. Chainlink is known in the blockchain space as a top producer of top-notch security data solutions.
Swipe’s CEO, Joselito Lizarondo said: “I believe this relationship is vital for Swipe users who need access to Chainlink’s trusted oracle services.”
An improved platform for Swipe users
The decentralization of data sourcing around token price conversions for point of sale transactions, such as through the SXP-USD decentralized price feed guarantees Swipe users of secure, reliable, and accurate pricing when buying, selling, and spending SXP.
Additionally, Swipe usage of Chainlink’s ETH-USD price feed to cross-reference against the SXP-USD price feed allows users to spend SXP directly on Ethereum Dapps. Also, the SXP and ETH price in USD allows the Swipe to easily convert them using Swipe’s point of sale conversion technology.
“By collaborating with Chainlink, Swipe effectively addresses the security problems for off-chain connections. The problem currently exist for users of the Swipe Network Wallet-Contacts,” Joselito Lizarondo said.
About Swipe and Chainlink
Swipe is a wallet application and card platform that allows users to buy, sell, and pay with 20+ digital currencies. Additionally, with the Swipe Network, users get to convert digital currencies to fiat currencies on-demand. Its wallet is available for download on Apple and Google Play stores.
The Network headquarters is located in London with additional locations in the United States, Estonia, and the Philippines.
Chainlink is a decentralized oracle network that enables smart contracts to securely access off-chain data feeds. As well as, to web APIs, and traditional bank payments. The platform also provides highly secure and reliable oracles to companies like Google, Oracle, SWIFT, and many other large enterprises.
Notably, Chainlink gets recognition as one of the top blockchain technologies by leading independent research firms like Gartner. November last year, it partnered with Tokenview, Loopring, and Ontology. Just last month it partnered with Icon to bring about real-world data to the blockchain.