Promising a future full of opportunities for the smart contract application, Chainlink and Everest have decided to come together to enable two-way communication between both organizations. Chainlink is the industry leader in oracle solutions based on decentralized technology. At the same time, Everest has pioneered the concept of creating and verifying the identity of users and business accounts using blockchain technology. This collaboration will change the smart contract segment and benefit the entire domain of open ledger technology.
This collaboration focuses primarily on two aspects: price feeds and the creation of the Chainlink node. Everest will use the Chainlink feeds to price tokens trading on its decentralized exchange, thereby enabling easy and seamless conversion for users. On the other hand, Everest will be coming up with a unique node specifically conceptualized for the Chainlink. This node will help offer unique solutions on human identity related to the various applications of smart contracts such as know your customer, know your business, and anti-money laundering modules.
The principal reason behind the selection of Chainlink by Everest is the wider usage of the former’s solution, which has already been time tested and fully equipped to handle all capabilities. The Chainlink is the most preferred and advanced network and has been relied on by several companies in the domain of blockchain, DeFi, gaming, etc. The blockchain-agnostic framework of the Chainlink can do wonders by delivering exceptional results to users in conjunction with the capabilities of Everest’s blockchain. The interaction between both companies’ ecosystems can prove extremely useful for communities who want to have seamless and secure transactions across networks.
Experts and analysts believe that this integration will help both organizations have a wider customer base while bringing a host of benefits to the users in the DeFi and crypto domains. Both organizations, through this collaboration, are looking to leverage the opportunities arising from the business environment and fully geared to make most of these promising developments.