China National Blockchain Service Network Integrates Chainlink

In a move that further emphasizes the importance of vetted real-world data, China’s Blockchain Services Network (BSN) will integrate Chainlink and its extensive network of systems. oracle decentralization to government, enterprise and individual decentralized applications (dApps) running on BSN via the interchain service hub IRITA, as per a press release on June 23, 2022.

SNZ Pool, IRITA Interchain To Facilitate Chainlink Connection

SNZ Pool, professional evidence of stake operators, will be in charge of the nodes that will allow the free flow of verified third party information streamed from Chainlink. IRITA is a product built on top of Cosmos and will receive external data from Chainlink before being integrated into BSN.

This collaboration is positive as it drives blockchain adoption. Upon activation, developers will easily build various applications on the platform while still believing in triggering information. A prototype demonstrating these advantages has already been built.

Sergey Nazarov, co-founder of Chainlink said:

“We are happy to help build BSN’s global infrastructure project by providing safe and reliable oracle services. By connecting BSN applications to real-world data, smart contracts can bring a new level of automation and trust in global agreements. “

Blockchain Services Network (BSN): Why Is It Important?

In late April 2022, BSN was launched after six months of internal testing. It is a cloud management technology and backbone technology infrastructure built by a consortium of enterprises in China by connecting nodes spread across 128 cities in the country.

However, interconnectivity will not be locked only to mainland. There are ambitious plans to link seven other regions outside of China including South Africa in Johannesburg, Singapore, California and Tokyo. The goal is to ensure that businesses willing to do business in China can use dApps through BSN.

In particular, BSN enables all business cadres who are willing to incorporate emerging technologies into their operations to run applications without launching them from a private blockchain network. It is estimated that running a dApp from BSN will cost between $150 and $300 per year.

Therefore, Chainlink prophecy integration introduces another layer of security, interoperability and reliability for Chinese enterprises and government agencies. This, in turn, will increase the adoption rate of blockchain in China and worldwide.

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