XYO, the world’s first geospatial blockchain network which is backed by cryptography is integrating their IOT data with chainlink oracles.
Chainlink is a decentralized oracle network. It allows smart contracts to securely access web APIs, off-chain data feeds and traditional bank payments.
They have brought together the Internet of Things (IoT)-based data capabilities of XY Oracle- “XYO,” with the Chainlink’s authentic and secured end-to-end connections between external data sources and smart contracts, across the multiple blockchains.
XYO and Chainlink together will provide smart contracts secure access to highly valuable IoT data. Which will be used to create a multitude of new smart contracts in companies like Insurance and Financial Services.
Sergey Nazarov, CEO of Chainlink, says “Chainlink is excited to be working closely with the XYO team. They feel this collaboration will benefit everyone, especially for those who want to combine high-quality IoT data from the XYO network, along with a highly-secure and authentic oracle-like Chainlink, for their smart contract development teams or across large enterprises.”
“XYO partnership with Chainlink offers an excellent opportunity to showcase the value of providing seamless data and chain-to-chain integration,” according to Arie Trouw, Co-Founder and CEO of XYO.
Further, he said. “We’re glad to contribute our expertise and the increasingly complex data sets to the world-class solution the Chainlink team has created. And we look forward to further expanding our work together over time.”
Chainlink is often selected as one of the top blockchain technologies, leading independent research firms and media publications. It is also known for offering highly secure and reliable oracles to both large enterprises (SWIFT) and leading smart contract development teams.
At the time of writing, chainlink ranked 26th ( 13.67% growth) with 24 hr trade volume $79,396,548 USD. And its marketcap is $397,153,870 USD. The circulating supply is 350,000,000 LINK and total supply is 1,000,000,000 LINK.