This week WAX announced a new partnership with Chainlink, a company that provides a decentralized oracle network. It is listed among the top 15 most valuable blockchain companies on Coin Market Cap and it is the go-to oracle service for most Ethereum dApps. With partners like Binance, the Web3 Foundation, and Google, it’s no wonder why Chainlink is so revered in the blockchain space.
This partnership came as a surprise to many, not because we weren’t aware of the coming announcement or that it has little to do with clouds and stripes, but who WAX chose to partner with. Surprising because WAX, an EOSIO based project, chose to “outsource” for an oracle service when EOSIO has its own revered oracle service. But upon further consideration it makes sense from WAX’s standpoint to partner with a company that has a long track record and well situated for accessing “data and resources from outside the EOSIO ecosystem.”
This partnership offers WAX a wide range of off-chain services such as random number generation, token prices, sports events, IoT data, interoperability with other chains, existing payment systems, enterprise backends, and much more. Also with this partnership WAX hopes to unlock new possibilities for real-world applications.
Here are some of them:
- Data-Driven NFTs on the WAX Blockchain.
- Ethereum NFTs and FTs on the WAX Blockchain.
- Native DeFi products on the WAX Blockchain.
- A stablecoin for the -EOSIO ecosystem.
The announcement blog post covers a bit more details about this partnership. If you’d like to read more about it you can find it on their website – announcement post
What do you think of this partnership? We’d like to hear your take on it in the comments section below and/or on Twitter.
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