CHAINLINK
Chainlink is for solving the Oracle problem within the blockchain projects. Sometimes we need to rely on the outside data sources for smart contract executions, so how to use outside data in a reliable and standard way is quite important. Chainlink is an external data provider to blockchain projects. There are many cases that the trigger and execution of smart contracts rely on conditions of external data, like climate data. The key is that external data is reliable and tamper-proof. Chainlink manages to provide a standard, process, and APIs for easy use of external data.
Coinbase Reveals New Price Oracle Competing with Chainlink as a Major Rival in the DeFi Ecosystem
San Francisco-based crypto exchange Coinbase is taking the decentralized finance (DeFi) industry to the next level by releasing its Coinbase Price Oracle, a reliable source of signed price data for crypto pairs. Blockchain oracles provide paths between off-chain and on-chain events and are third-party information sources that supply data to blockchains. Blockchain oracles offer useful data for DeFi applications and other blockchain services.
Ontology Teams Up with Chainlink to Solve the Oracle Problem by Creating Externally Connected Smart Contracts
In an effort to foster the Ontology network, the platform has announced its decision to collaborate with Chainlink to build data-driven smart contracts with end-to-end security and reliability, which is centered on solving what they identified as the oracle problem.