QANplatform Integrates Chainlink Oracles To Interact With Off-Chain Data

QANplatform, the company building a quantum-proof energy-efficient platform which relies on the Proof-of-Randomness (PoR) protocol, officially announced an integration with Chainlink. The latter provides a reliable oracle network that facilitates complex smart contracts and accesses off-chain data feeds, web APIs and even bank payments.

With the help of this integration, QAN developers can create more complicated smart contract designs that use resources external to the QAN blockchain platform.

Although QANplatform provides a number of security features that make it suitable for long-term usage, it cannot connect with systems and data that are outside the QAN blockchain. Of course, no blockchain platform can interact with external information and can only execute calculations on data stored in their networks. As many smart contracts have to communicate with resources from the outside to create real value – this is a big barrier when it comes to blockchain development.

Even today, the bigger part of trusted data sources is located on non-blockchain systems and the lack of a way to access it through a secure blockchain-like manner is a necessity. Chainlink is the first oracle solution to solve this issue a.k.a. the “oracle problem” to most blockchain ecosystems. When we mention an oracle we refer to the following:

“Oracles are data feeds from external systems that feed vital information into blockchains that smart contracts may need to execute under specific conditions.”

Chainlink not only solves this problem but includes decentralized security to the oracle mechanism, which invokes a smart contract.

Developers can now decentralize the data delivery method by using many oracles to collect the same data point and accumulate their responses collectively. This mechanism is protecting them against a centralized oracle that can be a sole point of failure, and of truth.

CTO and co-founder of QANplatform, Johann Polecsak shared information on the valuable integration:

“I believe that giving developers the ability to build efficient smart contracts in a timely manner is a necessary step in order to reach the desired goal of mass adoption. We can only achieve that through real-world integration and co-existence with platforms that people already use. Thanks to Chainlink’s oracle solutions, we are able to do that with QAN. Alongside our multilingual smart contracts, developers possess everything they need in order to achieve adoption.”

Common use cases coming from this integration would be decentralizing the source of the QARK/USD price, which will allow enterprises to determine their fees in USD but pay on the backend by QARK. The new features will also secure the connection to IoT devices which can initiate new supply chains, insurance, and logistics products.