Chainlink Joins Hedera Governing Council
- Chainlink will become the preferred oracle partner for the Hedera network.
- Heder and Chainlink will implement a series of initiatives to bring traditional financial institutions to DeFi.
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In a press release published on 20 May, Chainlink said it has partnered with Hedera to implement a series of initiatives aimed at helping traditional financial services harness the power of decentralized applications. As a member of the Hedera Governing Council, Chainlink will be the preferred oracle partner for the Hedera network and will integrate with the Hedera Token Service (HTS).
David Post, the Managing Director of Business Development and Strategy for Chainlink Labs, said the enterprise adoption of blockchain has made decentralized oracles a critical part of the DeFi infrastructure. Therefore, it was a natural progression to join the Hedera Governing Council and make Chainlink the default oracle provider for enterprise applications, he explained.
According to Mance Harmon, the CEO and Co-founder of Hedera Hashgraph, Chianlink’s potential on the Hedera network is “limitless.” Chainlink will be the first Web 3.0 company on the Hedera Governing council, joining the likes of LG, Google, Boeing, IBM, UCL, Shinhan Bank, and Deutsche Telekom.
- Chainlink Staking v0.1 is now available on the Ethereum mainnet to a limited number of users, but will be opened to the general public on 8 December.
- The new feature includes a LINK staking pool with 25 million token cap, which aims to secure the ETH/USD price feed within the Ethereum mainnet.
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- The proof-of-concept project will see SWIFT use Chainlink’s Cross-Chain Interoperability Protocol (CCIP) to connect to most blockchain environments.
- CCIP will allow the interbank messaging system to instruct on-chain token transfers, further accelerating the adoption of blockchain technology.
- Partnering with Chainlink will allow Galaxy Digital to distribute its crypto pricing data to various blockchains, and help developers build better applications.
- The company noted that its high-quality pricing data will play a valuable role in “unlocking exciting new use cases and driving innovation across the DeFi ecosystem.