Chainlink Acquires Blockchain Oracle Solution From Cornell University


Chainlink has acquired Cornell University’s privateness oracle resolution DECO for an undisclosed quantity. That is Chainlink’s second acquisition thus far, in accordance with an announcement made by the agency on Saturday.

DECO was co-created by Ari Juel, former chief scientist at digital safety agency RSA, who may even be a part of Chainlink Labs as a part of the deal beneath the identical title.

Furthermore, Chainlink CEO Sergey Nazarov and Juels have begun drafting a second Chainlink white paper, in accordance with a telephone interview with the pair. The duo authored the unique Chainlink white paper in 2017.

Chainlink’s oracle resolution ports knowledge from off-chain areas into blockchain sensible contracts. For instance, Chainlink gives knowledge data for many decentralized finance (DeFi) functions, corresponding to dYdX’s crypto spinoff merchandise. 

DECO claims to leverage how HTTPS/TLS data is transmitted for safer internet practices, in accordance with a launch from the agency.

“DECO can also be helpful for customers who need to monetize their very own knowledge (and subsequently show that they’re certainly offering right knowledge) with out gifting away something however the knowledge that they’re promoting,” DECO’s web site reads.

Nazarov mentioned DECO can be utilized as a basis for just a few crypto want record objects, corresponding to permissionless credit score or decentralized identification.

For instance, he mentioned DECO can show an individual is over 18 by pulling knowledge from a DMV whereas hiding the person’s beginning date.

This may very well be additional utilized to the golden apple of decentralized finance, permissionless credit score techniques. Nazarov mentioned an oracle like DECO might at some point enable a wise contract to question off-chain credit score data corresponding to banking data with out overreaching into private knowledge.

“DECO is the best way a whole lot of collateral will make its technique to DeFi,” Nazarov mentioned.

Juels instructed CoinDesk this privateness is feasible via DECO’s incorporation of zero-knowledge proofs, popularized in cryptocurrency circles by the privateness coin zcash (ZEC).

Source link Coin Desk


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