Recently, Prophet has announced joining with Chainlink to bridge the gap between smart contracts and authorized paperwork. From now onwards, Prophet will be a certified Chainlink Node Operator. It is a team of crypto enthusiasts, and early adopters of blockchain technology with a vision of linking off-chain data feeds and web APIs with smart contracts.
The smart contract is a digital version of acknowledgment of any business dealing and is based on blockchain technology. It is a digital proof of any negotiation or performance of a contract. It further helps in eliminating any third-party intervention while performing transactions. Also, it adds tractability and makes transactions irreversible. Besides all these, there are some flaws in smart contracts like enforceability, jurisdiction, who is responsible for code errors, etc. In those situations, the linkage of smart contracts with the offline world comes handy.
As per the contract, Chainlink will collect data and transfer it to Prophet for further analysis and connecting it to the contracts. Precise Ether price will be taken from 18 different independent data sources while assessing it for the implementation of the whole setup. Earlier, Prophet has launched Bake’n’Rolls which was a Tezos delegation service. At present, Bake’n’Rolls has a 4.9 million Tez tokens in its stack. Further, the delegation service has been running on mainnet since its day of launch.
For Chainlink nodes, Prophet will Fiews building tool to access Ethereum as a Service (EaaS). Moreover, Fiews has specifically been designed for Chainlink nodes and provides access to load-balanced Ethereum nodes. The partnership between Chainlink and Prophet will go a long way for crypto space as well. Chainlink is based on a decentralized Oracle network and provides services to global tech giants like Google and Swift. Google has integrated Chainlink in its cloud services for smart contract adoption.