In what appears as a move to advance its project offerings, InputOutPut (IOKH), the technology company behind the Cardano project, has announced a partnership with Chainlink to develop its decentralized Smart Contracts. The was revealed in the ongoing Cardano Summit 2021.
While speaking on the development, head of blockchain partnerships at Chainlink Labs, Niki Ariyasinghe, described Cardano as an ecosystem that Chainlink highly respects, citing the project technical team and its support from the community.
This move, according to Ariyasinghe, came at the perfect time since the network recently saw its smart contracts upgrade. Recall that Cardano became smart contracts-compatible a little over two weeks ago. However, the integration of Chainlink tech would help the network transfer tamper-proof data from off-chain sources to on-chain smart contracts.
He said, “A lot of this comes down to timing. Cardano obviously has had an extended period where it had different drops of upgrades and the most recent is Alonzo – really about enabling smart contracts. So for us this is really like the right time to engage with the Cardano ecosystem.” He further continued that the possible result of the proposed integration would secure hundreds of billions of dollars locked on the network.
Interestingly, this is not the only partnership and strategic deal announced in the ongoing summit. Cardano also revealed its collaboration with DISH alongside others.
Cardano co-founder Charles Hoskinson disclosed that the network has collaborated with DISH’s telecom services. This is to advance its blockchain adoption while transforming the telecom industry’s entire model.