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How Chainlink Connects Smart Contracts To The Real World And The Opportunities Therein

Chainlink goes beyond giving users a voice on the blockchain to link them with opportunities in the real world.

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CHAINLINK: The platform that connect smart contracts to real-world data.

Chainlink operates using the oracle network. Oracle networks are those networks that provide means through which blockchain or smart contracts can interact with external data and create paths between off-chain and on-chain transactions.

For smart contracts to connect to external data sources or any Application Programming Interface (API) they would have to proceed through an oracle network, in this case, Chainlink. With Chainlink, payments can be sent from smart contracts to any payment platform or bank account around the world.

The Smart Contract Angle

Smart contracts cannot connect directly with external data like APIs and off-chain data; they make use of Chainlink’s network to create a secure connection that provides both off-chain data and end-to-end security. Chainlink achieves this by providing a reliable network with inputs and outputs that are tamper-proof and can be used for complex smart contracts on any block chain.

The ability to execute unalterable and highly secure digital agreements is a property of smart contracts. But for a smart contract to be able to execute unalterable and highly secure digital agreements, the input and output that it relies on must be secure.

Due to the high security of smart contracts, connecting smart contracts with vital external data like APIs and off-chain data is very difficult.

Smart contracts require the use of series of inputs to improve their functionalities and due performance. They also require the use of several outputs to improve their performance and compute transactions that are complex like sending information and payments required to complete the contract. Chainlink helps achieve all these.

The same security guarantee is provided by smart contracts and Chainlink’s decentralized oracle network. To ascertain the value of a smart contract that is reliable, secure, and authentic, multiple Chainlinks are used to evaluate the data contained in the contract. Chainlink’s node operators are paid using a link token.

Read Also: How JustSwap Works

CHAINLINK’S PARTNERSHIPS

Due to Chainlink’s ability to connect external data to blockchain networks in a decentralized manner, many companies in recent times have partnered with them to realize new products. Some of the companies that partnered with them pretty much lately are:

  1. Digitex Futures
  2. CasperLabs
  3. Kakao
  4. Polkadot
  5. Baseline protocol
  6. Hdac technologies
  7. Google clouds
  8. Credits
  9. Oracle
  10.  V Systems… and many others.

Partnership with Digitex Futures

Digitex Futures recently partnered with Chainlink to build a platform that would protect their users’ funds. This partnership was executed because of Chainlink’s up-to-date and tamper proof price data. Another reason for the partnership is to provide a very consistent and accurately priced data that will not fluctuate.

Partnership with CasperLabs

CasperLabs have a blockchain and smart contracting platform, all the applications developed on this platform, by virtue of CasperLabs partnership with Chainlink, will be secured by Chainlink. Chainlink is CasperLabs’ first, and so far, only oracle provider. This partnership would create a user-friendly economic environment.

Must-Read: How Staking Works With Ethereum 2.0

Partnership with Kakao

In mid-2020, Chainlink signed a partnership deal with Kakao. Kakao is a South Korean company, popular for the ownership of one of the widespread mobile messaging app used in Asia, KakaoTalk. Chainlink’s oracle will be incorporated into Kakas blockchain smart contract project as a result of the partnership. This will boost blockchain and crypto mass adoption. Also, Chainlink will provide oracles that are secure and reliable for Kakao’s next generation of decentralized apps.

Partnership with Polkadot

In February 2020, Polkadot became the first Non-Ethereum Blockchain to Integrate Chainlink. On Polkadot, Chainlink will be integrated with an assigned independent blockchain shared with custom characteristics. As a result of this partnership, Chainlink’s stable pricing feeds will service Polkadot’s experimental network.

Partnership with Baseline protocol

Baseline protocol is an intiative led by Consensys and EY News in collaboration with Microsoft. Baseline combines advances in blockchain, cryptography and messaging to deliver private business processes that are secure at a very low cost through Public Ethereum Mainnet. This partnership would lead to the buildup of enterprise oracle solution that would make Ethereum Mainnet compactible for enterprise use.

Partnership with Hdac technologies

The partnership between Hdac and Chainlink will develop a system for delivering off-chain data on blockchain in an attempt to support the execution of smart contract. The partnership will be particularly addressing the biggest obstacle in commercializing smart contract technology- the blockchain oracle problem.

Partnership with Google clouds

Google clouds and Chainlink entered a partnership in a bid to making cloud accessing on public domains easier for developers using Chainlink’s oracles. The partnership will also allow for an on-chain and cloud-based interaction with smart contracts and Ethereum decentralized applications

Partnership with Credits

Credits is a blockchain software protocol that offers block chain products such as wallet and DApp, and infrastructure development tools. Credits is best used for data storage, making payments (both macro and micro) and also for token insurance.

The partnership between Credit and Chainlink would make Clouds go steps higher than its initial features by using Chainlink’s oracle network to secure data from smart contracts and also sustain reliability. This partnership would help foster the growth of technology among businesses especially the businesses of financial institutions

Partnership with Oracle

Oracle is a major tech player in the software industry. They are known majorly for their database management systems. Oracle has, in recent times, shown interest in blockchain technology in a bid to producing a decentralized database. This company partnered with Chainlink to use their Oracle Blockchain platform to create a means through which startups can make money from their APIs.

Partnership with V Systems

V System is a blockchain cloud data base that focuses on the challenge of scalability and governance. The platform seeks to build a space of industrial scale DApps, which would contain features like cross-chain applications, sidechain applications and Smart contract applications. The partnership between V Sytems and Chainlink would create DApps that are exceptionally reliable and that have higher accuracy.

Recommended: The Attraction of Polkadot Blockchain And Here Is How It Is Making A Difference

How JustSwap Works

JustSwap is one of the leading lights of the DeFi boom with billions of dollars in completed trades. Here is how the platform works.

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Justswap: How to use?

One of the main crypto trends of 2020 was decentralized exchanges: Blockchain-based systems that allow people to exchange one token for another in a quick and easy manner, where their reliance on the blockchain itself works as an extra layer of security.

These exchanges are particular because, beyond their main use of allowing people to exchange tokens, they also allow users who are holding cryptocurrencies to use them to provide liquidity, earning a portion of the exchange’s earnings in exchange. This approach has made them popular all over, giving us several stable systems that may well replace the large crypto exchanges in the not too distant future.

Justswap is one of the first such exchanges based in the TRON blockchain. Launched after the overwhelming success of Uniswap, it allows users of TRON to quickly exchange their tokens for one another, including trading for TRC20-based tethered tokens representing the most sought after cryptocurrencies, such as Bitcoin and Ethereum, along with pure TRON-based tokens.

How does it work?

From an end-user point of view, few systems are simpler than Justswap. While there’s a lot going on under the hood, people using it as an exchange should be content with knowing Justwap allows them to exchange TRC20 tokens for one another in a quick, simple manner.

The process can be described as simply filling a form. Yes, it’s simple, and yes, it’s easy. That’s the whole deal with it.

However, there are naturally a few more steps than just that – but said steps are small and simple enough that, after learning of them, you will too consider the process extremely simple.

Read Also:The Big Breakout of Uniswap, Justswap, Trustswap, and The Incredible ROI As DeFi Unfolds

Steps to exchange your tokens using Justswap

Connect to a wallet

Because you can’t use DeFi systems without having a crypto wallet. In Justswap’s case, a TronLink wallet is required, along with the TronLink Chrome extension. You must first log into the wallet from the Chrome extension, and then confirm the password on the Justswap website.

You’ll know you’ve successfully connected to your TronLink wallet because the system will then show you your wallet address along with your crypto balance.

If you’re using the TronLink app on a mobile phone, you should be automatically connected to your current wallet.

Select the token you wish to exchange

On the main page, select the token you wish to exchange on the “From” dropdown. You’ll be shown a list of eligible tokens along with your balance for each of them.

Once you’ve selected the token, if this is your first time trading that token you’ll need to approve the token for use on JustSwap. This is a security measure aimed at making sure you don’t accidentally trade the wrong token, along with authenticating the wallet a second time. In this case, no password should be necessary – just click “Confirm” on the TronLink popup that will appear.

Perform the trade

Now, fully fill the exchange form. You’ll have to specify a token to trade from, a token to trade to, and the amount of crypto you wish to either exchange from or exchange to. Only one of these fields is required, as the other will be automatically filled according to the current going rate.

Once the exchange form is filled, click on the “Swap” button. You’ll be taken to a confirmation screen detailing the exchange you’re about to perform. Click on “Confirm Swap.”

You’ll now be asked to confirm the transaction on your wallet. Once again, since you’re already logged in, you just have to click “Accept.” You can also enable automatic signature so any further transactions of this type during a set amount of time are automatically accepted.

Once you’ve accepted the transaction, your exchange should happen automatically.

Steps to add liquidity to Justswap

If instead of exchanging tokens you wish to add liquidity and potentially earn some crypto, the steps are only a tiny bit more complex.

Instead of using the “Swap” option, click on the “Pool” option once you’ve logged into your wallet. Then, click the “Add liquidity” button.

You’ll be shown a form asking you for two tokens – the specific trading pair you wish to add liquidity to. One of them has to be TRX by design. Click on “Create pool pair” to add the trading pair to your account. You’ll be asked to confirm this pair with your wallet.

On the “Add Liquidity” form you’ll now see your selected trading pair listed as an option. Click on it, and a form to supply liquidity will appear. You’ll need to add liquidity in both tokens of the trading pair. If the trading pair doesn’t already exist in the system, you’ll be able to choose an amount for both. If it already does, you’ll only have to fill one of the tokens – the amount you’ll need of the other one will be automatically calculated.

Once you’ve filled the form, click on the “Supply” button. You’ll be asked to confirm your transaction with TronLink. After you’ve done so, you’ll have successfully added liquidity to Justswap.

You Must Read: How Leverage Trading Works When You Use The Binance Cryptocurrency Exchange

Steps to remove liquidity to Justswap

To remove liquidity, just select the trading pair you’ve added liquidity to and click on “Remove.” You’ll be shown a form letting you know what your current position in the pool is, along with a slider letting you choose the percentage of liquidity you want to remove.

Select the percentage you want, and the amounts in both tokens for the trading pair will be automatically filled. Then, click on “remove”, then confirm the transaction. You’ll once more be asked to confirm the transaction with TronLink. After you’ve done so, your tokens will be removed and returned to your wallet.

Conclusion

We are in the age of decentralized finance, and with the warm embrace that crypto is getting around the world, there is no better time to learn about using DeFi.

Recommended: he Rise and Rise of DeFi, And All You Need To Know About The 3 Leading Yield Farming Global Platforms

Gb Adolph Obasogie is a Partner at Harrison Global Capital. Follow him on Twitter @lyfbeat

Planning To Get A Mortgage? Here Are Tips You Must Know

Mortgages are important, they present the common route to owning a home in today’s world. Here are major tips you can use.

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Ah, a mortgage. Few economic contracts are so constantly heard of, yet so poorly understood. We all know they’re used to get houses and, judging from TV shows, we also know they take long to pay and stress you out.

In theory, that should be enough. A longer description could simply say “A mortgage is a loan you get from the bank to buy a house. Essentially, the bank buys the house and lets you live in it while you pay for it. Once you’ve paid it all (as in, the mortgage,) the house is yours.”

But while that description does get the gist of it, there’s more. There’s always more. There are details, tricks, and small print to take care of. Here are some things you should also know before getting one.

The Requirements

Because if you don’t fulfill these there’s no way you’re getting one. In general, the amount of money a bank will be open to lend you via a mortgage will be directly tied to your credit score and your monthly finances.

A person with really bad credit score won’t even qualify for one, while people with a decent score but low monthly earnings won’t be able to apply for a mortgage on a mansion.

The types of mortgage your bank offers

Not all mortgages are the same. The differences between them even go beyond just the numbers, since numbers are something you can actually negotiate.

The type of mortgage refers to the agreement that will rule the whole process. One could divide it in two large groups, being fixed and adjustable-rate mortgages. Fixed rate ones have set monthly payments and interests, while adjustable ones are often recalculated based on several indicators.

There’s more, however. The mortgage you get will often depend on what you’re purchasing real estate for (mortgages for a personal home offer lower interests than mortgages for rentals, or for second properties) so making it clear what you want the property for can go a long way.

If you can’t pay your mortgage it’s not the end of the world – as long as you act quickly

Second mortgages are even more misunderstood than regular ones. The wording itself for the term doesn’t even make much sense, leading homeowners to be puzzled about them.

The actual term behind the “second mortgage” nickname is refinancing, which is what happens when for whatever reason your economic situation changes and you find yourself unable to make your regular mortgage payments.

It is, in essence, a renegotiation of the mortgage contract, usually made to help you keep your house because, believe it or not, banks usually aren’t interested in keeping real estate properties. The trick to get a good refinancing deal is to act quickly.

Don’t wait until you have several months of unpaid bills and an eviction order. The sooner you act, the better a deal your bank will offer you. Many people fail to explore making hay while the sun shines. But, it is the better route to take in this scenario.

Shop around before committing

Don’t just take the first deal you’re offered, or go with the first bank or financial institution you see. Ask around – ask friends and coworkers about their experiences, but also inquire in different places in your own.

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This is important because different institutions will offer you different mortgage terms, and some will be better suited for you than others – in fact, some might even be flat-out superior than others by offering lower interests or smaller payments.

Just as you wouldn’t just buy the very first house you see, don’t take the very first mortgage you’re offered. Wait a bit, think it over, and see what else others can offer. The more the merrier applies in this case and you lose nothing for nosing around for the best deals.

Conclusion

The present depressed economic state of many nations holds some promise to get a good bargain for mortgage in most cases. Though many people are just angling to survive, there is room to go beyond just that.

So, if you have got some mileage, go ahead, and apply the tips above to strike a deal. When the storms of the present settle, you will enjoy the bottom-line.

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How NFTs Fared in 2020 And All The Insights You Need To Know

NFTs offer a terrain that can be explored to make money. As crypto adoption deepens, new products like these are set to make a difference.

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2020 was quite the year, and not only in the social, political, or healthcare levels. Blockchain technology, cryptocurrencies, and other tokens positioned themselves over that time and seem now closer than ever to breaking into the mainstream.

Just one look at the price of Bitcoin, blockchain’s sweetheart, tells us enough about it: The six-months (and ongoing) bull market has surpassed Bitcoin’s previous highs, and the strong interest in it from economy giants hints we might be seeing a new status quo.

However, there’s more to blockchain than Bitcoin or cryptocurrencies, so while Bitcoin keeps going up and up it’s a good idea to take a step back and look at other uses of Blockchain that could well revolutionize our society. In this case, specifically, let’s look at Non-Fungible Tokens (NFT) and how they fared in 2020.

Must-Read: As Blue Chips Acquire Bitcoin, Here Is The Pathway To The Future

Crypto Stamp

Coming from the Austrian Post, Crypto Stamp is an attempt to turn stamps into digital assets in the blockchain, allowing them to be used, traded, and collected as many people do with physical stamps.

While this might seem a silly endeavor, it follows closely on the CryptoKitties craze, where digital collectibles can indeed become sought after and greatly increase in value just by existing.

Thanks to the Blockchain, Crypto Stamp allows stamp collectors to safely trade for them knowing they’re legit (since there’s no way to create “fake” ones,) and giving them the ability to know how many owners any given stamp has had, and how it has been traded or used before.

The Sandbox / Decentraland

A gaming-based NFT (and there are a lot of these,) The Sandbox aims to create a virtual world where the players themselves can own and trade virtual properties and items. Each of these is coined into a non-fungible token to allow for easy trading, creating an in-game economy where every item is truly unique.

More importantly, The Sandbox also allows users to create LAND tokens, which are self-contained gaming experiences. This turns the blockchain into an entertainment center where every LAND token you buy is a wholly new experience, and where content creators can craft unique, one-off experiences tailored for different users.

Terra Virtua

Another collectible-based blockchain platform, Terra Virtua has quickly attracted lots of attention thanks not only to its goals, but also the experience of its creators and the large amount of media companies that seem to be onboard with the project.

Terra Virtua offers its users the chance to trade and own digital collectibles, in much the same way Crypto Stamp above does – although, in Terra Virtua’s case, the collectibles are much more varied than just stamps.

Terra Virtua’s aims is to create a virtual playground where people can own not only decorative digital items, but also entertainment products such as films or music that can be freely used while inside the virtual world.

Moreover, the project aims to include AR and Virtual Reality-based components, allowing for an immersive experience where users, and their friends, can explore each other’s galleries and collections, creating a complex digital environment for entertainment and socialization.

As mentioned above, several media companies are onboard with the project. Among the larger ones are Paramount and Legendary Pictures, whose properties and products are expected to arrive at the platform.

Aavegotchi

Yet another gaming-based NFT (There are tons of these, as gaming and media seem to be the most common uses for NFTs for now,) Aavegotchi is a complex, Tamagotchi-like experience in the sandbox.

In Aavegotchi, each creature is summoned from a portal and is unique. However, unlike other NFTs, Aavegotchis have an intrinsic value themselves, since in order to summon them certain amounts of cryptocurrency must be paid.

On top of each creature being generated as a unique item, users can further personalize them by equipping them with items that will change their stats and looks, allowing every owner of an aavegotchi to have a unique creature (or many) to fit their tastes.

Another somewhat revolutionary component of Aavegotchi is the rarity aspect of their NFTs. Each aavegotchi is created with a rarity, as is common in videogames, which can be common, uncommon, rare, epic, and so on. However, unlike in current videogames, in the Aavegotchi world rarity is permanently changing and getting readjusted based on the market and current existence.

In a unique way, a rare or ultra-rare Aavegotchi could become less rare over time, based on both the creatures the RNG creates and how other users choose to develop and equip their own.

Recommended: With Companies Investing In Bitcoin, Here Are The Likely Areas of Impact You Need To Know

Warp Finance

A DeFi-based project, Warp Finance is one of the non-entertainment related uses of NFTs that could well take flight soon.

Most of Warp Finance’s inner workings aren’t related to non-fungible tokens, so it’s easy to dismiss them at first. Close to the goals of DeFi, Warp Finance’s main approach is to offer loans to those who need them while allowing others to provide liquidity and obtain collateral payments in the form of a portion of the blockchain transaction fees. Call it a high-level staking system, if you will.

However, Warp Finance is also entering the world of NFTs, at first tentatively with limited, collector edition Warp NFTs to be assigned to early users who take part in its “Team Explorer Campaign.”

This campaign, true to the goals of DeFi and Warp Finance, lets users form teams and pool together their liquidity offerings to the blockchain. Teams with larger liquidity offers get rarer NFTs, while teams with lower ones will get more common rewards.

The important part of these NFTs, however, is this: They aren’t just virtual assets to keep as part of a collection. Instead, these Warp NFTs are expected to allow their owners to boost their earnings in the platform, letting them reap higher rewards for lower investments as a thank you for being early adopters and believers in the platform.

Warp Finance is currently one of the most high-profile DeFi-based projects, and shall its approach not only towards NFTs, but towards blockchain banking and funding be successful, we’ll see many more projects of this kind pop up in 2021 and beyond.

Conclusion

In a clear representation of what the crypto scene offers, NFTs have shown that the market can be deepened with new products and innovations. Better adoption of blockchain and crypto beckons in the days ahead.

Read Also:Fan Club Tokens: What are they, and other things you need to know!

Fan Club Tokens: What are they, and other things you need to know!

Fan club tokens are here, and they deepen the real world uses of cryptocurrencies. Juventus, Atletico Madrid, AS Roma, and more have their fan club tokens live on Binance..

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Blockchain technology, and the ensued cryptocurrency market, has proven to be extremely adaptable. A decade after its inception, it’s harder to find markets where blockchain use hasn’t been proposed than markets where it has, with anything related to the internet having a clear advantage.

 With the appearance of creator-focused blockchains, aimed towards allowing those who create content for the internet, as opposed to the site that hosts it, to profit from both views and advertising, it was only a matter of time before fanclub-like blockchains appeared. And appear they did!

Read Also: As Blue Chips Acquire Bitcoin, Here Is The Pathway To The Future

An e-sports rooted craze

Knowing that blockchain technologies have had a much easier time penetrating groups where technology use and innovation was big, it’s no surprise that one of the first implementations of a fan club token system was e-sports.

It took a while, to be fair, as the first team to announce such a program did so only last year, but by now several have joined the fray and it’s looking like e-sports fan club tokens will be the next big thing in the market, and perhaps the largest change to its functioning since the implementation of Twitch back in 2011.

The e-sports team to first take the steps into the blockchain business was OG, best known for having won the Dota 2 The International championships in 2018 and 2019. The announcement was a relatively quiet one, but coming from such influential figures in the community it still made waves: OG was partnering with crypto startup Chiliz, owners of the Socios.com platform to offer fan club tokens.

This year, the concept of fan club tokens went even further, reaching real-life sports teams. As of today, several dozen football and sports clubs have tokens of their own, and no, they’re not just for niche clubs – Spanish giant Barcelona FC sold 600,000 fan club tokens back in June, generating 1.2M Euro in revenue in under two hours.

Learn More: The Attraction of Polkadot Blockchain And Here Is How It Is Making A Difference

What do these tokens do? Are they cryptocurrencies?

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A crypto token refers, generally speaking, to any asset exchanged in a blockchain. Cryptocurrencies, like Bitcoin or Ethereum, are tokens, but there are many other types of tokens: Tokens representing services, subscriptions, and even real estate properties exist.

Crypto token properties vary, and with it so do its possible uses. The tokens we know as cryptocurrencies are generally fungible (that is, they are all identical, have the same value, and in many cases you can’t even track what any given token has been used for,) and in most cases they’re also divisible, giving users the chance to own amounts lower than 1 token, usually down to the thousandths, hundred-thousandths, or millionth parts of a token.

Not all tokens share these properties, however, and while fan club tokens could be considered fungible and, depending on the implementation, perhaps also untrackable, they’re certainly not divisible – or at least most of them they won’t be. This is partly thanks to the expected uses of these tokens, which would make it impossible to use in amounts lower than a whole unit.

Fan Club Tokens: Interesting uses that matter to fans

The part that looks most difficult to fathom at first is what these tokens could be used for, or what they might even mean. It’s easy to understand what cryptocurrencies mean, as they’re currencies and also represent ownership over a percentage of a blockchain.

Other tokens can be understood easily too, as a token that represents a service (that is, that can be traded for it) has an intrinsic value, and tokens that represent properties or real estate can be equaled to property deeds.

When it comes to fan club tokens, however, people are often left scratching their heads in wonder, thinking about what they could mean. Do these tokens represent ownership of the team or something?

The answer is no, they don’t represent ownership of the team. Even if you owned all 600,000 Barcelona FC tokens you wouldn’t have a say on team makeup, nor would you receive any part of the earnings the team reported.

What they do represent is the right to a vote – or as many votes as tokens you own – on less important, somewhat superfluous issues the team might want to defer to their fans for. For example, if the sports team were trying to settle on a new uniform, they could make their options public and ask their fans – the ones who hold tokens – to vote on whichever they prefer.

There are other possible uses, of course. Preferential seats could be offered first to token holders, or the right to buy such a ticket could be exchanged for a token. For musicians, particularly pop or rock stars, token holders could be offered special VIP packages, in much the same way current fan club members often get special rates on ticket sales.

Another, perhaps less common, but expected use would be market-based: These tokens, while initially sold at a set price, can well be resold at whatever price the market dictates. People who purchase tokens for a somewhat middling teams might find said tokens greatly appreciate in value after a good season, thus giving them an investment element.

Which of these tokens are out now?

Since the market is still very new, there aren’t all that many teams offering tokens yet live on the market. As of August, the Chiliz network had barely 10 fan club tokens out, and by this writing that list has grown to 20 – small steps, but important ones nonetheless for a growing market.

Among the offered tokens, the most important ones are for OG e-sports team, Atletico de Madrid, Barcelona FC, Juventus, Paris Saint-Germain, and fighting leagues UFC and PFL. The number is expected to increase during 2021, as more people grow aware of blockchain technologies, cryptocurrencies, and how they’re entering real-life.

While definitely a marginal use, fan club tokens might be one of the first blockchain uses to make it to the mainstream, since soccer fans are loud and dedicated – thus not willing to let go of the opportunity to vote on small team decisions.

Moreover, Binance’s recent listing of several fan club tokens can be considered an endorsement of the concept – and in the crypto world, you can’t do much better than having Binance’s support.

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