UTU Integrates With Chainlink Oracles
UTU is thrilled to announce that they are integrating Chainlink oracles into the UTU Protocol testnet, mainnet, and Trust API. By leveraging the industry-leading decentralized oracle network, UTU can securely track endorsement data based on past ratings and reviews to reward users for successfully participating in the protocol’s endorsement system.
URU will integrate Chainlink’s oracles to manage and track endorsements to facilitate the UTU Trust Token (UTT) rewards within the protocol. UTU Protocol users can stake UTT to endorse entities — service providers, DeFi protocols, or other entities — on apps in the UTU ecosystem.
Why UTU Chose Chainlink?
As the most time-tested and widely used decentralized oracle network in the blockchain space, Chainlink has a proven history of strong security and a rapidly growing ecosystem. Additionally, Chainlink’s support for multi-word responses allows UTU to deliver additional data in it’s oracle calls in a seamless manner, with Chainlink’s AWS quickstart making it easy to run its oracle node directly on AWS infrastructure — keeping transaction costs low.
Chainlink has a multitude of critical features that made it a great fit for our use case, a few of which are:
- Blockchain Agnostic — Chainlink is blockchain agnostic, meaning our data can be easily made available on any current or future blockchain environment. This is particularly important as we make our endorsement system accessible to users across the multichain ecosystem.
- Widely Adopted — Chainlink is the most widely used oracle network in the blockchain industry, offering us access to a vast addressable market of potential data consumers.
- Provably Secure — Chainlink is thoroughly audited open-source software designed according to leading academic research, already helping to secure billions of dollars in value live in production.
“After extensive research, we believe that Chainlink is the best oracle solution for our unique use case. Chainlink oracles already have the ability to call a custom API as well as infrastructure to support paid and authenticated APIs, which was very important to us. The widespread adoption amongst the blockchain ecosystem’s largest protocols is also impressive and points towards its long-lasting, future-proof nature.”— UTU CTO Bastian Blankenburg
ABOUT UTU
UTU is building the trust infrastructure of the internet to help businesses and consumers engage and transact in an easier, safer, and more trustworthy way.
ABOUT Chainlink
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.
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