Matic Network Partners with Chainlink to Enable Decentralised Oracles Network


One of the well-known blockchain scalability platforms Matic Network announced to collaborate with Chainlink. Chainlink is described as a platform that act as a bridge between smart contracts on the blockchain and real-world applications.


According to the blog post, This partnership enables Matic to support the Chainlink decentralised oracle network to enable real-world data for any smart contracts running on Matic.

As part of this collaboration, Chainlink plans to create an adapter for the Matic Network to make a large amount of off-chain data feeds, various APIs, and traditional payment services available to all contracts on the Matic network.

Basically, Matic is a Layer2 scaling solution that achieves scale by utilizing sidechains for off-chain computation. Additionally, it also ensures asset security using the Plasma framework and a decentralized network of Proof-of-Stake (PoS) validators. Thus, the platform aims to be the real platform on which developers will deploy and run decentralized applications.

Moreover, DApps running on Ethereum now have the option to use Matic to take advantage of fast, cheap and secure transactions on the network, and take advantage of Plasma security for assets.

According to matic platform, the major reason to collaborate with chain link is: The Chainlink team has an incredible technical reputation and are consistently selected as one of the top blockchain technologies. The project is also well known for providing highly secure and reliable oracles to both large enterprises (SWIFT) and leading smart contract development teams.

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Qadir AK

Qadir Ak is the founder of Coinpedia. He has over a decade of experience writing about technology and has been covering the blockchain and cryptocurrency space since 2010. He has also interviewed a few prominent experts within the cryptocurrency space.

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