China National Blockchain Services Network (BSN) Integrates Chainlink for Transfer of Real-World Data
In a major development in the crypto space, China’s Blockchain Services Network (BSN) has announced integration with Chainlink in a move to bring the letters oracle services to its BSN platform.
This integration will allow governments and businesses integrate valid and real-world data into the BSN applications. This will be done using Chainlink oracles through the IRITA interchain service hub. To support this entire operation, a professional Proof-of-Stake service operator - SNZ Pool - will be in charge of the nods to facilitate free transfer of verified third-party information from Chainlink.
The interchain service hub IRITA, built on the Cosmos network, will receive external data from Chainlink before integrating it into BSN. This will further facilitate a wider blockchain adoption.
Upon activation of this entire operation, developers will be able to confidently build several DApps on the platform and trigger additional information.
Speaking on this development, Sergey Nazarov, the co-founder of Chainlink said: “We’re excited to help build out BSN’s global infrastructure project by providing secure and reliable oracle services. By connecting BSN applications to real-world data, smart contracts can bring new levels of automation and trust in global agreements.”
China’s Blockchain Services Network (BSN) was recently formed China’s State Information Center, China Unionpay, China Mobile, and Red Date Technologies. BSN is basically a service layer powered by blockchain infrastructure that acts as a one-stop shop for businesses to access low-cost blockchain cloud computing services.
On the other hand, Chainlink is the world’s leading oracle network which works with tech giants like Google and Oracle. The Chainlink allows on-chain blockchain applications to fetch off-chain real-world cloud data in a secure and reliable manner.
With Chainlink now being the preferred oracle network for BSN, it will help BSN applications and smart contracts to access data from outside the blockchain.
Yifan He, CEO of Red Date Technology and BSN co-founder, said that the integration team is working to release a working prototype soon. Yifan He said: "One of the main purposes of BSN is to provide interoperability to all DApps, regardless of whether they are for permissioned chains or public chains. On BSN, each Dapp should be able to call any other Dapps in a very convenient and low-cost way. This collaboration with Chainlink, IRITA, and SNZ Pool will help us achieve this goal and ensure that BSN users reach new levels of security, reliability, and interconnectivity.
China’s BSN platform will have nodes expanding across 128 countries of the world. The ambitious plan involves nodal interconnectivity between countries like Japan, South Africa, Singapore, and California. With this infrastructure, any businesses willing to do business with China should deploy their DApps via the BSN.