Telecom stc Bahrain has launched its Chainlink node that will provide smart contracts with access to a secure source of real-world data and secure off-chain computations.
Stc Bahrain plans to enhance the digital economy by providing data and decentralised services to smart contracts through its Chainlink node. The node will not only support Chainlink price feeds—decentralised oracle networks that supply highly accurate financial market data to decentralised finance (DeFi)—but it will decentralise the delivery of data on-chain helping spur the ecosystem growth as more economic activity and value begins to migrate to blockchain networks.
“With accelerating demand for validated data to enhance smart contract applications, there is a growing opportunity for leading infrastructure providers like stc Bahrain to provide their services to various smart contracts,” stated Sergey Nazarov, co-founder of Chainlink. “Through the deployment of its own Chainlink node, stc Bahrain is supporting the smart contract economy by not only delivering critical data inputs but also positioning itself to provide a wide range of off-chain computations that are critical to smart contracts.”
Chainlink is the industry standard for building, accessing, and selling oracle services needed to power hybrid smart contracts on any blockchain. Chainlink oracle networks provide smart contracts with a way to reliably connect to any external API and leverage secure off-chain computations for enabling feature-rich applications. Chainlink currently secures tens of billions of dollars across DeFi, insurance, gaming, and other major industries, and offers global enterprises and leading data providers a universal gateway to all blockchains.
