How Chainlink Works and New StarkWare Partnership

Rumors are whirling around that the blockchain scaling technology firm StarkWare and Chainlink Labs are about to sign an agreement to partner up soon. This partnership will likely result in Chainlink having access to Oracle services, data feeds, and price feeds from the StarkNet ecosystem.

Additionally, with these two significant players teaming up, StarkWare will likely participate in Chainlink’s Scale program, and StarkNet tokens will work to fund Chainlink’s operating expenses for its oracle nodes. Representatives from StarkWare are on record stating that the two firms have developed a viable framework to collaborate effectively.

How Chainlink Works

A node network is two or more connected nodes (computers). An oracle node is a database with various agendas and sensitive information available to users as resources. It’s typical to find oracles compared to a toolkit, thanks to its versatility and ability to adapt to a wide range of applications.

Now Chainlink operates as a decentralized oracle network that allows smart contracts to access off-chain data (information not on the blockchain), APIs, and secure payment platforms. The part that makes Chainlink unique is that it permits smart contracts to access data and events unfolding in the physical world in real time, sifting through data found on sources outside the blockchain.

The way Chainlink works are that every decentralized node is responsible for producing smart contracts that use reliable, secure data. Each piece of data that comes to the smart contract faces a series of checks and calculations for it to be officially submitted into the smart contract. In return, every node receives a payment reward from Chainlink’s native currency, LINK.

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