SHANGHAI, June 23, 2020 /PRNewswire/ -- China's recently launched national Blockchain Services Network (BSN) is bringing Chainlink oracle functionality to its network. This key integration will enable governments and enterprises to incorporate validated real-world data into their BSN applications using Chainlink oracles via the IRITA interchain service hub. Professional Proof of Stake (POS) operator SNZ Pool will run nodes to support the operation.
This integration of Chainlink provides BSN users additional security, reliability, and interconnectivity to help fuel even greater growth and adoption of blockchain applications in China and around the world.
BSN is a blockchain infrastructure service layer designed to be a one-stop-shop for companies to access ultra low-cost blockchain cloud computing services. It's supported by major Chinese entities and corporations, and its founding consortia partners include China's State Information Center, China Mobile, China Unionpay, and Red Date Technologies.
Chainlink is the world's leading oracle network that works with enterprises such as Google and Oracle. Its technology enables on-chain blockchain applications to incorporate off-chain real-world data in a highly secure and reliable manner. As such, BSN selected Chainlink as the preferred oracle network to enable BSN applications and smart contracts to access data from outside the blockchain (e.g. weather, financial asset prices, IoT data, location information, and much more).
As part of this integration, Chainlink, IRITA, and SNZ Pool are contributing to the fundamental development and growth of BSN. Chainlink will be integrated into BSN via IRITA's interchain service hub. IRITA is a consortium blockchain product built using the Cosmos/IRIS SDK. The IRITA service hub will allow BSN blockchains to receive external off-chain data through Chainlink oracles. SNZ Pool, a professional node operator will provide node services to run the network. This multi-party collaboration will enable developers who build on BSN to access high-quality data through Chainlink which will make their applications more useful and connected with the real-world.
A working prototype that demonstrates the value of Chainlink oracles through the IRITA interchain service hub to BSN applications is already underway. BSN and SNZPool have also allocated resources to support the creation of the node infrastructure to run the Chainlink and IRITA nodes.
Yifan He, CEO of Red Date Technology and BSN co-founder, stated that the integration team plans to unveil a working demo soon. "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.
Harriet Cao, co-founder of IRISnet, commented, "BSN has an ambitious plan to provide a standardized, nationwide public infrastructure network supporting most efficient blockchain development and deployment. Chainlink is the industry-leading oracle solution provider. It is our great pleasure to support BSN vision and work on the integration of Chainlink and make the oracle service easy to use by all the blockchains on BSN, through a standard service interface which supports cross-chain interoperability."
Sergey Nazarov, co-founder of Chainlink, stated, "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 to global agreements."
"As a founding member of BSN, the China Mobile team welcomes Chainlink and IRISnet to the BSN family," said Xiang Dai, Deputy Secretary of the BSN Development Association and Director of Planning and Consultation with the China Mobile Group Design Institute Co., Ltd.
"The interchain service hub that Chainlink, IRISnet and Red Date are building is the first step toward achieving easy and convenient interoperability among all DApps deployed on the network," he added. "Using Chainlink and IRISnet networks, it will also connect them to off-BSN trusted data sources. We believe that this integration will transform blockchain applications and foster greater growth of the BSN ecosystem – in China and around the world."
BSN is a cross-cloud, cross-portal, cross-framework blockchain-based infrastructure network, which integrates cloud resources, underlying frameworks, operating environments, certificate management, development SDK and gateway API together to provide developers one-stop-shop to deploy and manage all kinds of Dapps conveniently and at low cost. Red Date Tech oversees the R&D and daily operation and maintenance of the BSN. To learn more about BSN visit: https://www.bsnbase.com/ (Chinese) and http://global.bsnbase.com/ (English).
IRISnet is an interchain service hub for next-generation distributed applications and its consortium blockchain product is called IRITA. Built with Cosmos/IRIS-SDK, IRISnet enables cross-chain interoperability through a unified service model. IRISnet's core development team includes Bianjie, a national award-winning blockchain technology team based in Shanghai.
About SNZ Pool
SNZ Pool is a professional POS operator and provider dedicated to providing professional Proof of Stake (POS) mining pool services. We are committed to minimizing the complexity of working as a POS validator, and to maximizing the stability and security of running a POS validator. Since 2018, we've been running nodes for over 20 major POS projects. We aim to make the POS validator as easy as possible.
Chainlink is a decentralized oracle network that helps resolve connectivity issues with smart contracts, enabling users to build blockchain-based smart contracts that securely access off-chain data feeds, web APIs, and traditional bank payments. By doing so, Chainlink transforms the role that smart contracts can play in a vast number of sectors, including financial services, insurance, and supply chain. Chainlink provides highly secure and reliable oracles to large enterprises (Google, Oracle, and SWIFT) and leading smart contract development teams such as Polkadot/Substrate, Synthetix, Aave, Tezos, Conflux, and many others. Learn more by visiting the Chainlink website or following on Twitter or Reddit.