Blockchain scaling technology company StarkWare will partner with Chainlink Labs to bring oracle services, data, and price feeds to the StarkNet ecosystem.
Through this coalition, StarkWare will join Chainlink’s Scale program and contribute Chainlink price feeds to the StarkNet testnet. StarkNet tokens will also fund certain operating costs of Chainlink’s oracle nodes, allowing Starket developers to access Chainlink’s oracle services and data feeds.
Chainlink is a decentralized oracle network that allows smart contracts to securely access data sources, APIs, and off-chain payment systems. It allows smart contracts to interact with real-world data and events, making it possible for them to be triggered by data from external sources.
The network has independent nodes that provide secure and reliable data to smart contracts, incentivized by payment in Chainlink’s native LINK token. Node operators verify and perform data calculations, ensuring the delivery of accurate and reliable data to smart contracts.
A StarWare announcement highlights the establishment of a sustainable economic system between StarkNet and Chainlink. The integration is also expected to provide the necessary infrastructure for StarkNet developers to build “increasingly complex and secure high-performance smart contract applications.”
StarkWare product manager and researcher, Ohad Barta, told Cointelegraph that work to introduce Chainlink’s oracle services on StarkNet has been ongoing since June 2022. Several oracle services will be integrated into StarkNet, according to Barta, highlighting the benefit of diversity in smaller and larger oracles serving the network:
“Oracles are an essential component, they are relevant in many use cases. Many applications need to know the price of assets or NFTs. Oracles are like a complete toolkit.”
Barta also believes that the reputation of Chainlink’s services within the Ethereum ecosystem is another important reason for integrating with StarkNet:
“The main advantage is that any app or startup can integrate with Chainlink price feeds and know that it will be accurate and have some peace of mind when building their product.”
In a statement from the Chainlink co-founder, Sergei Nazarov, highlights the partnership’s potential to make Chainlink’s oracle networks work at high speed and low cost for Starknet users and developers:
“By reducing the operating costs of oracle nodes, StarkNet is able to accelerate the growth of its ecosystem and become a more attractive environment for building scalable DApps in the Web3 ecosystem.”
Chainlink data is already available on the StarkNet testnet, with integration into the mainnet expected in the coming months. Cointelegraph is covering the StarkWare sessions in Tel Aviv, Israel, where the company announced it would open source its Starknet prover. The prover is the engine that StarkWare uses in its zero-knowledge technology.
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