• The partnership will integrate decentralized oracles into the Ethereum Classic network.
  • Oracles are useful when it comes to integrating blockchain with traditional payment systems.

Ethereum Classic Labs has announced its partnership with Chainlink (LINK) to bring decentralized oracles and external data to the Ethereum Classic blockchain. According to the announcement, Ethereum Classic (ETC) and Ethereum cannot natively interact with data that exists outside of their respective blockchains. However, platforms like Chainlink allow blockchains to access external data securely. Additionally, the service acts as a decentralized oracle by relying on independent data providers and node operators. 

As a result of the collaboration, the data provided by Chainlink will be accurate, reliable and free from possible interference. This is beneficial for developers on Ethereum Classic and other blockchains. Chainlink said:

Oracles facilitate off-chain connectivity for smart contracts by reforming external connection points (APIs) so that two separate software applications become compatible and can exchange data with each other. These oracles can then pull data into the smart contracts and/or execute actions on external systems based on predefined instructions.

ETC Labs has not disclosed information about the kind of applications that it will develop with Chainlink. It does, however, suggest oracles are useful when it comes to integrating blockchain with traditional payment systems, market data, and Internet of Things (IoT)-based insurance data. 

James Wo, Founder of ETC Labs said:

This extended functionality to off-chain environments substantially scales the number of use cases smart contract developers can create using Ethereum Classic and ultimately makes it easier and more seamless for developers to build on Ethereum Classic.


Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer. Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.

Recommended content


Recommended Content

Editors’ Picks

Why LIBRA meme coin promoted by Argentina President Milei is crashing?

Why LIBRA meme coin promoted by Argentina President Milei is crashing?

LIBRA meme coin promoted by Argentina’s President Javier Milei is making headlines again, crashing nearly 15% on the day. A local Argentine media outlet, Perfil, reported that lawyer Gregorio Dalbón had requested Interpol for a red notice to be issued for Hayden Davis. 

More LIBRA News
Metaverse narrative stalls as price action fades, but on-chain data signals continuing accumulation

Metaverse narrative stalls as price action fades, but on-chain data signals continuing accumulation

Metaverse tokens Sandbox, Decentraland and Axie Infinity continue to face correction since they topped in early December. A Glassnode report suggests that despite price pullback, on-chain activity suggests holders accumulation.

More Cryptocurrencies News
DeFi user loses over $700K USDC in a sandwich attack that experts suggest could be money laundering

DeFi user loses over $700K USDC in a sandwich attack that experts suggest could be money laundering

A DeFi trader became the subject of discussion among crypto community members on Wednesday after losing more than $700K worth of stablecoins to a sandwich attack on the Uniswap v3 protocol. 

More Cryptocurrencies News
Tether on-chain activity surges to a six-month high with 143,000 daily transfers

Tether on-chain activity surges to a six-month high with 143,000 daily transfers

Tether (USDT) stablecoin on-chain activity has rapidly risen, with over 143,000 daily transfers, surging to a 6-month high. Moreover, the USDT Network growth metric increases, indicating greater blockchain usage. 

More Cryptocurrencies News
Bitcoin: Will Trump's Strategic Bitcoin Reserve and White House Crypto Summit support BTC recovery?

Bitcoin: Will Trump's Strategic Bitcoin Reserve and White House Crypto Summit support BTC recovery?

Bitcoin price extends its decline on Friday, falling over 5% so far this week. BTC uncertainty and volatility spikes liquidated $1.67 billion as the first-ever White House Crypto Summit takes place on Friday.

Read full analysis
The Best brokers to trade EUR/USD

The Best brokers to trade EUR/USD

SPONSORED Discover the top brokers for trading EUR/USD in 2025. Our list features brokers with competitive spreads, fast execution, and powerful platforms. Whether you're a beginner or an expert, find the right partner to navigate the dynamic Forex market.

Read More

BTC

ETH

XRP