Chainlink and Town Crier Affiliation
Chainlink plans to implement Town Crier into its decentralized Oracle network following the acquisition. A combination of the two should result in a solid framework for constructing smart contracts that include all of the essential external inputs.
With the goal of allowing smart contracts to safely access off-chain data streams, Chainlink bills itself as a decentralized Oracle network. The blockchain project is well-known for offering corporations and top smart contract development organizations with secure and dependable oracles.
However, Town Crier bills itself as a verified data stream for smart contracts. It began as a student project at the IC3 Initiative for Cryptocurrencies and Contracts.
AS per former RSA Chief Scientist Ari Juels, Chainlink is the ideal partner to take Town Crier to the next level. Chainlink is expected to think of a new draft of features that would increase the platform’s usability, according to the co-inventor.
Our entire team has thoroughly enjoyed working with Ari Juels and everyone at Cornell.
Sergey Nazarov, CEO of Chainlink, said that they are excited to collaborate with them and the rest of the academic security research community to develop safe smart contracts that can meaningfully react to and influence critical events occurring outside of their own network.
Enhancement of Smart Contracts Reliability
Similarly, Juels anticipates that the Chainlink-Town Crier connection will aid in the resolution of a variety of smart contract connectivity concerns. Data integrity and confidentiality should be improved as a result of the integration. Town Crier has created a name for itself by successfully triggering smart contracts using trusted execution environments.
A large number of smart contract systems in use today lack reliable data sources. This is partly due to the fact that current oracles only provide shaky origins. All of this is changing in a unique way thanks to Town Crier. Its approach makes use of trusted hardware to ensure that data in circulation comes from reliable sources.
Smart contracts may also manage and facilitate confidential queries using the Town Crier trusted data source. Chainlink, on the other hand, provides trustworthy inputs and outputs for blockchain smart contracts.
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