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Chainlink (LINK) and Hedera are teaming up for something exciting for users

By:
on May 21, 2021
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  • The partnership will enable Chainlink to implement a series of initiatives aimed at helping finance services.
  • The partnership will also enhance Hedera’s Token Service, which will bring several players on board.
  • Hedera said Chainlink is the first Web 3.0 company on the network and it is exciting to partner with them.

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Chainlink Labs has expanded again. This time, the leading provider of oracle solutions has become part of the Hedera Governing Council. Hadera and Chainlink Labs will be implementing a series of initiatives aimed at helping centralized and traditional finance services.

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The implementation will include other organizations to harness visibility, distributed computational trust, and control the decentralization offer.

The collaboration will enhance Hedera Token Service (HTS) Utility

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Chainlink (LINK/USD) provides blockchain middleware and powers different enterprise users. The network is now the chosen oracle partner for the Hedera network. Chainlink Labs will be seeking to collaborate to provide integration with the Hedera Token Service (HTS).

Managing Director of Business Development and Strategy for Chainlink Labs, David Post, commented on the development. He said the enterprise adoption of DTL has become very important for almost every organization, including NFTs and gaming.

He added that the goal of the organization is to expand the suite of smart contract-related services that will be powering a wide range of safe and feature-laden operations. According to Post, the process is a natural progression for the entire Chainlink family to join the Hedera Governing Council, which will enhance its operational efficiency.

The partnership is in line with Hedera’s goals

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Founder and Chief Executive Officer of Hedera Hashgraph, Mance Harmon, also commented on the development. He said Chainlink is the most popular decentralized oracle solution in the market today. As a result, the partnership is in line with the company’s goals to expand the network’s potentials.

Harmon stated that Chainlink is used to “secure billions of dollars in assets for applications all over the world.” This will have endless potential on the Hedera network, as Chainlink is now the most used enterprise-grade public network.

He added that Chainlink has officially become the first Web 3.0 network on the Hedera Governing Council and the company is excited to partner with them.

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