Developers on RSK
no longer need to create their oracle to build their DApps. Bitcoin (BTC)
sidechain RSK will be equipped with Chainlink (LINK) oracles. This will allow
developers on the smart contract-enabled chain to tap into market price feeds.
It will also tap into other off-chain data to build their applications.
The integration is
being developed by IOVLabs. It is the company behind the RSK sidechain. It is
currently live on testne. It is expected to be launched on mainnet in less than
Chainlink data will
be ported to RSK. This will be done via RIF Gateways. This is an
interoperability framework. It is designed to let developers access a broad
array of data. This will be from other blockchains and the external world. The
framework connects to Chainlink nodes. It relays data between them and the RSK
blockchain. The system also makes use of the RSK to the Ethereum bridge. This
enables LINK token transfers between the two ecosystems. This allows
Chainlink Node Operators to be paid with any token in the Eth blockchain. If
they wish to be paid in LINK, they can. They need to go through the bridge to
get those redeemed.
capitalize on a smart contract network with this integration. It is anchored to
the most substantial Proof of Work blockchain. RSK uses a pegged
version of BTC as its native currency. The peg process is facilitated by a
federation. It is similar to solutions adopted by WBTC or Liquid.
The company has
recently been pursuing the goal of “Bitcoin DeFi.” It will help to capitalize
on the boom of lending DApps and decentralized exchanges. These occurred
primarily on Ethereum. It features its lending protocol that generates a
stablecoin. It is called Money On Chain, which uses RSK’s BTC for collateral.
are widely used in DeFi. But many projects still prefer to roll their own. The
RSK integration could simplify development on the platform with an
off-the-shelf solution. It makes a lot of sense for [RSK] to include Chainlink
as one of the Oracle technologies. RSK’s security and
functionality relies on Bitcoin. But it is still a separate network. It has a
different architecture. It heavily focuses on smart contracts. The project wants
to capitalize on its generalized scripting capabilities. So it recently started
branching out into broader interoperability and enterprise-focused solutions.
South Korean banks have partnered with Chainlink for a
decentralized foreign currency platform.