Google Ties with Chainlink to Ease Hybrid App Development
- Chainlink is bridging the gap between blockchain-based smart contracts and internet cloud services.
Search engine giant Google on Thursday announced that it has partnered with Chainlink to allow Ethereum app developers, using Google’s services, to integrate data from sources outside the Blockchain Blockchain Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Read this Term.
This, per the company, will ease the development of hybrid blockchain applications. In the official blog post, Google Cloud’s developer advocate Allen Dey detailed the functionality and applications of the platforms.
Learn how to use Chainlink services to provide data from #BigQuery crypto public datasets on-chain, which helps reduce inefficiencies & enables new on-chain business models to emerge by adding entirely new capabilities to Ethereum smart contracts ↓ https://t.co/yVekclgafQ
— Google Cloud Platform (@GCPcloud) June 13, 2019
In February, Google first made available the public blockchain data of Bitcoin, Ethereum, and six other Cryptocurrencies Cryptocurrencies By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw Read this Term on its big data query analytics platform BigQuery. However, to source data from the off-chain processes, the platform needed a gateway, and in this case, Chainlink is playing this role. This will add a layer on the blockchain and allow processes to implement directly on the distributed network.
“A business process implemented as a smart contract is performed on-chain, and that is of limited utility without having access to off-chain inputs. To close the loop and allow bidirectional interoperation, we need to be not only making blockchain data programmatically available to cloud services but also cloud services programmatically available on-chain to smart contracts,” Day explained.
The oracle of two technologies
The post also detailed how the integration of its cloud analytics services with Chainlink will help to improve major blockchain markets, including prediction market, hedging against blockchain platform risks, and transaction privacy on Ethereum.
Chainlink is a blockchain data provider which fetches heaps of on-chain and off-chain data for smart contract execution. In 2017, the company raised $32 million via an initial coin offering (ICO).
“This assembly of components allows a smart contract to take action based on data retrieved from an on-chain query to the internet-hosted data warehouse. 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,” the post noted.
Search engine giant Google on Thursday announced that it has partnered with Chainlink to allow Ethereum app developers, using Google’s services, to integrate data from sources outside the Blockchain Blockchain Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Read this Term.
This, per the company, will ease the development of hybrid blockchain applications. In the official blog post, Google Cloud’s developer advocate Allen Dey detailed the functionality and applications of the platforms.
Learn how to use Chainlink services to provide data from #BigQuery crypto public datasets on-chain, which helps reduce inefficiencies & enables new on-chain business models to emerge by adding entirely new capabilities to Ethereum smart contracts ↓ https://t.co/yVekclgafQ
— Google Cloud Platform (@GCPcloud) June 13, 2019
In February, Google first made available the public blockchain data of Bitcoin, Ethereum, and six other Cryptocurrencies Cryptocurrencies By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw Read this Term on its big data query analytics platform BigQuery. However, to source data from the off-chain processes, the platform needed a gateway, and in this case, Chainlink is playing this role. This will add a layer on the blockchain and allow processes to implement directly on the distributed network.
“A business process implemented as a smart contract is performed on-chain, and that is of limited utility without having access to off-chain inputs. To close the loop and allow bidirectional interoperation, we need to be not only making blockchain data programmatically available to cloud services but also cloud services programmatically available on-chain to smart contracts,” Day explained.
The oracle of two technologies
The post also detailed how the integration of its cloud analytics services with Chainlink will help to improve major blockchain markets, including prediction market, hedging against blockchain platform risks, and transaction privacy on Ethereum.
Chainlink is a blockchain data provider which fetches heaps of on-chain and off-chain data for smart contract execution. In 2017, the company raised $32 million via an initial coin offering (ICO).
“This assembly of components allows a smart contract to take action based on data retrieved from an on-chain query to the internet-hosted data warehouse. 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,” the post noted.