SAN FRANCISCO and DALLAS, May 20, 2021 /PRNewswire/ -- Chainlink Labs, the industry-leading provider of oracle solutions, has joined the Hedera Governing Council, which oversees distributed governance of the Hedera network. Chainlink Labs and Hedera will implement a series of initiatives aimed at helping traditional, centralized financial services and other organizations harness the distributed computational trust, visibility, and control that decentralized applications offer.
Chainlink, which serves as a secure blockchain middleware for powering a wide variety of enterprise users, will be the preferred oracle partner for the Hedera network and Chainlink Labs will collaborate to provide Chainlink integration with the Hedera Token Service (HTS).
David Post, Managing Director of Business Development and Strategy for Chainlink Labs, said, "As enterprise adoption of distributed ledger technology continues to advance, decentralized oracle solutions become critical for every vertical – from DeFi and insurance, to gaming and NFTs, and more. We're continuing to expand our suite of smart contract-related services to power a vast array of secure, feature-rich applications, so it is a very natural progression for us to join the Hedera Governing Council and work with the leading enterprise-grade public network and their other Council members to make Chainlink the default oracle provider for enterprise applications."
Mance Harmon, CEO and Co-founder of Hedera Hashgraph, said, "As the most widely adopted decentralized oracle solution in the market today, Chainlink is already used to secure billions of dollars in assets for applications around the globe. Their potential on the Hedera network, which is already the most used enterprise-grade public network, is limitless. We are excited to be expanding our relationship with Chainlink Labs, which will be the first Web 3.0 company on the Hedera Governing Council, to enable the most robust applications of the decentralized future."
For more information, visit https://hedera.com/council.
About Hedera Hashgraph
Hedera is the most used enterprise-grade public network for the decentralized economy. The platform is governed by a council of the world's leading organizations including Avery Dennison, Boeing, Chainlink Labs, Dentons, Deutsche Telekom, DLA Piper, EDF, eftpos, FIS (WorldPay), Google, IBM, LG Electronics, Magalu, Nomura, Shinhan Bank, Standard Bank Group, Swirlds, Tata Communications, University College London (UCL), Wipro, and Zain Group.
For more information, visit www.hedera.com, or follow us on Twitter at @hedera, Telegram at t.me/hederahashgraph, or Discord at www.hedera.com/discord. The Hedera whitepaper can be found at www.hedera.com/papers.
Chainlink is the industry standard oracle network for powering hybrid smart contracts. Chainlink Decentralized Oracle Networks provide developers with the largest collection of high-quality data sources and secure off-chain computations to expand the capabilities of smart contracts on any blockchain. Managed by a global, decentralized community, Chainlink currently secures billions of dollars in value for smart contracts across decentralized finance (DeFi), insurance, gaming, and other major industries.
Chainlink is trusted by hundreds of organizations, from global enterprises to projects at the forefront of the blockchain economy, to deliver definitive truth via secure, reliable oracle networks. To learn more about Chainlink, visit chain.link, subscribe to the Chainlink newsletter, and follow @chainlink on Twitter. To understand the full vision of the Chainlink Network, read the Chainlink 2.0 whitepaper.
SOURCE Hedera Hashgraph