ChainSafe Receives Chainlink Community Grant
- The grant will support ChainSafe’s development teams working in the Cosmos ecosystem.
- The company will integrate Chainlink into the Cosmos-SDK to enable a reliable oracle service.
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According to a Chainlink blog post from 28 May, the grant will support many small development teams working within the Cosmos ecosystem. The funds can be applied to projects looking to build externally connected decentralized applications on Tendermint-based blockchains using Chainlink oracles.
ChainSafe will create a Cosmos-SDK module that supports Chainlink oracle networks and ensure compatibility with Chainlink’s existing off-chain reporting data sites. Implementing a Chainlink module to the Cosmos-SDK will enable developers to access Chainlink’s Price Feeds, providing both the recent and historical data.
The Cosmos-SDK is a highly flexible, interoperable framework for building blockchains. Integrating Chainlink into the Cosmos ecosystem will enable over 247 applications and over $78 billion in digital assets to gain access to high-quality external data.
“This is a giant step towards providing the Cosmos ecosystem with reliable oracles, empowering new use cases to be realized,” stated Aidan Hyman, the Co-founder and CEO of ChainSafe.
Chainlink’s Community Grants program was created to accelerate the development of companies building universally connected smart contracts and secure oracle networks. By providing funding to ChainSafe, Chainlink aims to expand its ecosystem into Cosmos, the company said in the release.
- 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.