TomoChain will employ Chainlink’s decentralized oracle services to help DApp developers building on top of the blockchain network access off-chain information and customize their offerings to meet market demand.
The Singapore-based firm said via Medium that the integration will help provide smart contracts on TomoChain access various real-time information such as market prices, exchange rates, and sports scores.
The move is also expected to expand TomoChain’s decentralized nature by allowing DApp developers consume and transmit oracle-obtained data between smart contracts and run independently as node operators.
Additionally, providing oracle services will potentially help expand the reach of DApps across use-cases for enterprises and mass-market solutions.
“TomoChain’s ecosystem can benefit greatly from the decentralized oracles that ChainLink provides,” said TomoChain CEO Long Vuong, “I am excited to collaborate with the talented team from ChainLink to support DApps and projects building on top of TomoChain’s public chain.”
An oracle serves as a way for a blockchain and smart contracts to access real-world information from external sources that are necessary to complete agreements.
Chainlink promises to provide smart contracts with multiple inputs and outputs as opposed to a centralized oracle that has a single point of failure.