Elastos Integrates Chainlink and Releases DeFi Roadmap
On September 22, 2020, following the announcement of the integration with Chainlink, a market-leading decentralized oracle service provider, Elastos developed a detailed roadmap and is working to build a DeFi-related toolkit. As a global open source project, Elastos previously held a three-year anniversary celebration to share the progress of the project with the community, and will continue to work to build a blockchain-driven, decentralized internet operating system.
The Cyber Republic ETH working group is currently working with Chainlink to integrate the oracle functionality into the Elastos ETH sidechain. The Elastos ETH sidechain is an EVM compatible blockchain running on Elastos' secure network. Once integrated, it will enable DeFi dApps to access basic price points and external data required for financial functions.
Beginning in August, Chainlink integrated the ELA/USD price reference data model to perform collateral checks on Elastos' upcoming cross-chain stablecoin protocol. The agreement will be used to collateral ELA and lend stablecoins pegged to the US dollar, thereby providing greater utility to ELA holders.
By integrating Chainlink with the Elastos ETH sidechain, developers can build their own unique DeFi platform on top of Elastos Smartweb's fully scalable architecture. Next is the launch of a cross-chain stable link from ERC-20 to Elastos, which will enable Elastos to wrap and bring Ethereum's ERC-20 token into its own ecosystem through the ETH sidechain. Meanwhile, it is expected that in December, Elastos' ELA will be supported by Chainlink's price data reference model.
Once the relevant technology integration is complete, Elastos will be an ideal platform for building and implementing products related to loans, loans, synthetic assets, asset management, and tokenization. Product ideas currently being discussed include liquidity pools, bundled stablecoins, and ELA second-tier payment network.
Clarence Liu of the Elastos ETH working group said: “The inability of Ethereum to scale up has hindered innovation in DeFi. Elastos combines the best of these two fields: Ethereum's network effects, plus Elastos' secure and scalable DPoS network, and is supported by Bitcoin infrastructure through joint mining. This enables developers on Elastos to build scalable dApps that can access price sources and other data points on Ethereum, thus creating a platform where good ideas can flourish. ”
Elastos, founded by OS expert Chen Rong, is building the most comprehensive and interoperable open source platform in the blockchain industry. Elastos' Smartweb uses an AuxPow+DPoS hybrid consensus mechanism, which relies on Bitcoin's powerful computing power and the democratic ideals of DPoS, and is a fully decentralized internet system. At the same time, Elastos not only uses blockchain technology, but also uses peer-to-peer network communication carriers, decentralized data storage service Hive, and decentralized ID (DID) systems for all digital assets. And with sidechains like Ethereum, Elastos is not only the foundation for ensuring truly scalable decentralized applications, but also the foundation for true data ownership.
As the flagship product of Elastos Smartweb, Elastos integrates the entire decentralized ecosystem into a single app. Currently, the Android version of the app has been released, and iOS and desktop systems are under development.
To learn more, visit the Elastos.Info website, Elastos website, Elastos, or CR Pioneer News.
If you're a developer, visit Elastos Academy, Elastos Developer, or Elastos Developers Telegram.
Elastos is also actively searching for new and existing dApp projects through Cyber Republic to help startups and existing businesses explore blockchain. You can find information at https://www.cyberrepublic.org.上阅读更多关于Cyber Republic.
Contact Elastos.Info
Talha Idris
E-mail: ti@elastos.info
About Chainlink:
If you're a developer and want to connect smart contracts to off-chain data and systems, check out our developer documentation and join our technical discussion group on Discord. If you would like to schedule a conference call with us to discuss integration matters, please click here to contact us.
Chainlink is an open source blockchain abstraction layer that develops and operates a decentralized oracle network to safely and reliably input and output data for smart contracts. Chainlink's oracle services target leading DeFi applications such as Synthetix, Aave, and Kyber Network; numerous blockchains such as Ethereum, Polkadot, and Tezos; and large enterprises such as Google, Oracle, and SWIFT.
Source: CR Pioneer Information
