tokenist.com
On Tuesday, April 25th, Celo, a mobile-first blockchain ecosystem, announced it has joined Chainlink’s SCALE program thus integrating one of the major oracle services into its platform. The announcement comes after a community vote in which 93 participants voted in favor and only three against.
Celo Brings Chainlink’s Oracle Service to Its Ecosystem
This Tuesday, the mobile-first platform Celo announced that it is adding a blockchain oracle service to its ecosystem. The move comes after a community vote that proved to be a landslide victory for the proposal to join Chainlink’s SCALE platform. In the press release, Celo described the move as a way to accelerate the ecosystem’s growth.
Following approval from the Celo community, it’s exciting to announce that Celo is joining the Chainlink SCALE (Sustainable Chainlink Access for Layer 1 and 2 Enablement) program to help accelerate the adoption of Celo’s regenerative ecosystem. This initiative will help accelerate ecosystem growth and the long-term adoption of Celo by equipping Celo developers with low-cost, reliable Chainlink oracle data and services.
According to the announcement, Celo joining SCALE will enable developers to access a major oracle service at a low cost helping them complete their projects achieve greater success. It will also enable the ecosystem to “support secure, fully featured, and highly efficient next-generation mobile applications.”
Commenting on the move, Celo’s Head of Ecosystem Growth, Xochitl Cazador stated it is a part of the platform’s drive toward “long-term sustainability”. In turn, Niki Ariyasinghe, Chainlink’s Head of Blockchain Partnerships, highlighted the reduced operating costs of the oracle nodes and added that the developers will now be able to “build more sophisticated mobile applications” and thus significantly help boost web3 adoption.
The Growing Popularity of Blockchain Oracles
Recent months have seen numerous reports of well-known names from the digital assets industry choosing to integrate Chainlink’s oracle service. In just over a month, MakerDAO, one of the largest cryptocurrency lending platforms, and Coinbase’s recently-launched Base decided to integrate the service.
Maker described its decision as a way to help maintain the stability of its DAI token. On the other hand, Base, much like Celo, joined Chainlink’s SCALE as a way to help developer access off-chain data at a reduced price. The growing popularity is not surprising considering that blockchains don’t have the ability to access useful information from the outside world without the help of oracles.
While Chainlink is one of the leaders in the service and its SCALE program is only making in increasingly accessible, it isn’t the only provider. Some companies, like the world’s largest cryptocurrency exchange Binance last October, have created their own oracles in order to enrich their own ecosystems.
Do you think the proliferation of oracle services will significantly speed up web3 adoption? Let us know in the comments below