Will Financial Data on the Blockchain Be Rocket Fuel for Chainlink?
One of the most successful tokens in the Ethereum ecosystem, Chainlink might be one of the more useful ones as well. In a nutshell Chainlink provide a decentralized blockchain oracle service. In layman's terms means that they connect internet data to blockchains.
Over the few years of their operations Chainlink has managed to compile an impressive list of partnerships. This includes partnerships with Google, Amazon's AWS, and Oracle to name a few. These partnerships along with fulfilling an actual need is probably what pushed Chainlink above the pack.
Earlier today a yet another partnership was released that could vastly increase Chainlink's functionality.
By onboarding @alpha_vantage as a new data provider and node operator to the #Chainlink ecosystem, developers can now design novel, yet secure smart contracts that leverage real-time and historical data on stocks, forex (FX), and cryptocurrencies. https://t.co/Ni2ueOPgXx pic.twitter.com/8JRPvIGqE0â Chainlink - Official Channel (@chainlink) November 19, 2019
What Chainlink & Alpha Vantage's Partnership Means
By partnering and making Alpha Vantage a node operator, Chainlink will be able to integrate financial data onto the blockchain. Live information on the prices of fiat currencies, stocks, and commodities will be stored on the blockchain.
This can be used to create a truly transparent & digitized stock market, store & tamper-proof historical price data and decentralize the world of finance.
The possibilities seem nearly endless.
Written by Jonathan Ganor
Writer & cryptocurrency aficionado