A startup, Chainlink’s token project has been tapped by Google, as they become an official Cloud Partner. This partnership represents a deep and detailed interest in blockchain technology by the renowned tech giant. A detailed description of the partnership spawned from a Google Cloud blog post, where it was revealed an aim to place BigQuery (Google’s data warehousing and business intelligence solution) data on the blockchain using a “Chainlink oracle smart contract.”
SmartContract.com and Chainlink were created by the founders, Sergey Nazarov, and Steve Ellis to build appropriate middleware between traditional data sources and blockchain-based systems. The startup is also working with money movers SWIFT as well as database company Oracle.
One of the founders, Nazarov said, “We realized that a reliable oracle mechanism is a gating issue for the creation of most of the use cases that people are expecting from our space, and set out to solve this limitation of blockchain infrastructure with security, reliability, and easy consumption of the inputs/outputs needed by smart contracts to reach this new level of usefulness,” Nazarov added “In this case we are working with Google as someone who we’ve successfully made an on-chain data provider that can now securely interact with smart contracts that want to consume their high quality data and/or various off-chain services. We’re trying to create the next generation of smart contracts that are able to go beyond tokenization, and will find their usefulness based on interactions with market events (DeFi), IoT events (Decentralized Insurance) and various other use cases.” Notably, Google has singled out very few blockchain products to run a course with hence the announcement for this startup is much of an achievement to hold high for notice.
Allen Day, a Developer Advocate with Google wrote, “At a high level, Ethereum Dapps (i.e. smart contract applications) request data from Chainlink, which in turn retrieves data from a web service built with Google App Engine and BigQuery,” he continued, “One or more Chainlink nodes are listening for these calls, and upon observing, one executes the requested job. External adapters are service-oriented modules that extend the capability of the Chainlink node to authenticated APIs, payment gateways, and external blockchains. In this case, the Chainlink node interacts with a purpose-built App Engine web service.”
Simply put, the above quote means that with Chainlink acting as the data middleman, the interaction between Google’s products can permit a client app to interact with a standard database server, in the same way, decentralized applications can interact.
The partnership with Google has created leverage points for the startup to actualize aims they have set in place and seems promising for more to come. According to Nazarov, “Allowing smart contracts to interact with a data source of Google BigQuery’s quality, enables various new and exciting capabilities for Ethereum contracts in general e.g. more private ethereum transactions via submarine sends, as well as various exciting use cases/Dapps like prediction markets that will base their outcomes on BigQuery’s data,” he also added, “We’ve really enjoyed working with the folks at Google on this initial implementation, and we’re looking forward to working with them in many more ways to come.”
This recent announcement stirred up in the news from last weekend Friday, a favorable result was seen as LINK which is Chainlink’s associated token; hit an all-time high of $1.95 before dropping later that day.
Credits- John BiggsJOIN OUR COMMUNITY