Paralink Network is thrilled to announce partnership with Sienna Network
Paralink Network is proud to partner with Sienna Network, a privacy-first financial platform with the aim of developing high quality financial products that cover trading, swaps, and enable future lending.
Development through constantly updated interfaces for data retrieval
Through the partnership, Sienna Network will use Paralink’s Oracle platform to integrate and deliver price data feeds via “Secret Network”, a blockchain designed to protect privacy, and to share other data through their platform for various networks. As a result, Paralink not only has the advantage of real-time data feeds contributing to a reliable and efficient ecosystem for Sienna Network, but also increasing awareness of Paralink.
Core in this is an ambition to prevent financial losses due to inaccurate price feeds.
A strong solution for providing Oracle implementations
Paralink Network provides oracle implementations that allow developers to perform database queries, access APIs in the non-decentralized world, access data from a website, and combine existing data with their own data. All of this is done in a permissionless way.
This implementation on the Sienna Network will not only help provide accurate price data feeds, but also provide other relevant data to services that also use Secret network and Sienna’s Platform. This will be achieved with multi-directional data feeds so that other DeFi services can benefit from Paralink’s oracle platform.
After the implementation of the Oracle solution for Secret Network, which was mentioned above, has been completed, further integration will take place automatically, as well as being carried over into the product SiennaLend.
About Sienna Network
Sienna Network is a cross-chain, privacy-first platform for decentralized finance (DeFi), which empowers its users via “programmable privacy” to manage their finances securely, with no outside interference or intrusion, knowing that outsiders will not be able to view the details of the transaction or compromise their identity to any 3rd parties.
About Paralink
Paralink Network provides a multi-chain oracle platform for DeFi and other blockchain applications. Applications that require the highest level of security can use Paralink’s on-chain consensus algorithm running on Polkadot Substrate. Paralink’s flexible node design allows developers to query real-world events, sports, weather, random numbers and more. Developers can create custom queries using the Paralink Query Language and connect smart contracts to traditional API’s in minutes.
