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IOV labs integration with Chainlink to bring benefits to RSK developers

Photo of: Janeth Diamond
by Janeth Diamond

A major new announcement has made its way. IOV Labs has integrated with Chainlink’s decentralized oracles into the RSK and RIF ecosystems. Expanding on a strategic agreement made in July, IOV Labs and blockchain venture builder Coinsilium announced the formation of a Joint Venture company operable from Singapore that would promote IOV’s RSK and RIF OS blockchain solution in the upcoming Asia Pacific enterprise markets.

With the new integration with Chainlink, the RSK developers will now be in a position to gain access to critical process feeds and data resources that are generated outside the blockchain using them as inputs to spark-off RSK’s Bitcoin-based smart contracts. 

The teams signed up for RSK and RIF are indeed putting in their best show to integrate the new protocol at the basic infrastructure level. This will help the developers to use these oracles without depending on external blockchain support. The integration as of now stands live on the testnet which was completed in a few weeks following the modular architecture of the Chainlink protocol. Without any doubt, Chainlink is indeed the market-leading protocol. Its technology is used by many smart contract development teams and larger enterprises in the blockchain and technology circuits. It strengthens those blockchain platforms and applications that are dependent on oracles for reliable connectivity with off-chain data delivered in real-time. 

Julian Rodriguez, the head of RIF Gateways said in a statement,

“Chainlink is as synonymous with oracles as RSK is with Bitcoin smart contracts. When the two are combined, the developers can capitalize on a smart contract network that is anchored to the strongest Proof of Work blockchain and is connected to the best-decentralized oracle solution on the market. The synergies between Chainlink and IOV Labs get on in an extensive manner and we look forward to exploring more ways to enhance the utility of RSK and RIF by building upon Chainlink’s best-in-class oracle service”

RIF gateways are considered as one of the main components of RIF. Its mission is to provide a unified yet simplistic experience for developers to make ingress to an oracle or data service which brings information into the blockchain from the outside world. The integration will also enhance further the capabilities of Chainlink. It will open a novel network of node operators to Bitcoin. With integration comes the promise of technology implementation which will spread across diverse blockchains. Daniel Kochis, Head of Chainlink Business Development, commented

“The blockchain space has long wanted to build smart contracts anchored to the security of the Bitcoin blockchain. We’re excited to collaborate with the IOV Labs team making that a reality by providing RSK with secure and reliable oracles to empower more useful smart contract applications that fully integrate with widely used data resources and systems.”

Developers will be able to access any oracle or data service which will bring the latest and real-time information into the blockchain. Hence the integration will make use of these gateways so that the Chainlink oracle network is easily accessible to RSK developers without any impediments in the process.