WOM Protocol Integrates With Chainlink
Working as a leading name in the blockchain arena with its revolutionary services, WOM Protocol Pte. Ltd. has announced its collaboration with Chainlink, the industry-leading decentralized oracle network. The first systematic venture of this integration is the launch of a Chainlink-supported WOM/USD Price Reference Feed, which is running live on the mainnet. The decentralized price feed solution will depict volume-adjusted data from all liquid trading marketspaces and statistics offering price volatility.
.@WOMProtocol, a Web3 digital marketing solution, is using Chainlink’s WOM/USD Price Reference feed live on mainnet to denominate rewards in USD. WOM is also working on a framework to bring authentication data about content creators on-chain via Chainlink. https://t.co/Ndr6ycRs0A
— Chainlink (@chainlink) July 29, 2020
According to the post, the decentralized architecture of Chainlink will allow the WOM network to enrich the end-users with price precision facts and an immutable source of price data that can be used seamlessly to earn rewards. WOM, the permission-less protocol, will use Chainlink to pool in reliable data for content creators on-chain. The platform can validate data from core industrial domains like social media, publishing, messaging, e-commerce, etc. Chainlink can transport this data feed to any blockchain network, which can then store metrics related to the performance of content marketing initiatives and content creators across the participating portals.
Francis West quoted, CTO, WOM Protocol,
The WOM Protocol is a revolutionary network which is designed to resolve the multiple limitations prevalent in the present influencer advertising and user-generated content advertising solutions like probing ads, poor performance, loose marketing budgets, etc. The decentralized solution uses the excellence of blockchain technology infused with leveraged financial incentives through WOM tokens to create a revolutionized content network.
Chainlink will allow the WOM community to be able to securely, transparently, and reliably present the market price of the WOM tokens on a global level. All this is achieved without any central authority interference or limiting the exposure to a single exchange or exchanges so that the data provided is free from manipulation.
Daniel Kochis stated, global head of business development, Chainlink,
The WOM users can plugin to any platform to validate the efficiency of the content by keeping decentralization at its core. Chainlink can transport this data to any blockchain network offering high-end flexibility without disrupting the marketing strategies of the blockchain system.