Partnerships Will Soon Lead To Blockchain Mainstream Adoption

Partnerships Will Soon Lead To Blockchain Mainstream Adoption

Blockchain News
August 27, 2019 Editor's Desk
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An oracle service provider and a blockchain platform have collaboratively announced that they are planning to leverage each other’s service, which will improve their respective offerings. High Performance Blockchain (HPB) claims it to be the first blockchain company all over the world to integrate hardware with software. At the same time, the Chainlink network is
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An oracle service provider and a blockchain platform have collaboratively announced that they are planning to leverage each other’s service, which will improve their respective offerings.

High Performance Blockchain (HPB) claims it to be the first blockchain company all over the world to integrate hardware with software. At the same time, the Chainlink network is an expert in middleware solutions that enable on-chain smart contracts to have access to off-chain, in-demand resources.

Currently, HPB says that everyday organizations face a problem to make sure that data between off-chain and on-chain environments is exchanged reliably and securely. This can be solved by leveraging oracles, the intermediary digital agents that exchange, retrieve and format data among the off-chain systems and smart contracts.

The company also believes that oracles can “greatly expand the scope and impact of blockchain applications” by leveraging data to operate smart contracts after the predetermined requirements have been satisfied.

Chainlink makes use of multiple oracles to pass and retrieve singular data, avoiding the risk of a single node handling functionality and data integrity of a smart contract. The teams creating the smart contracts and large-scale organizations like SWIFT are already ones among the network’s clients.

Where HPB comes in

HBP’s role comes in for providing a “true random number generation service” which could be beneficial for a wide range of industries, including the gambling and gaming sectors. The current methods used by the firm to generate random numbers are potentially predictable and predetermined, compromising on the fairness and security that businesses primarily require. The Blockchain Offload Engine, HPB’s personal hardware chipset, leverages temperature and electricity to create a true random number generation service.

HBP stresses that with decentralized applications (dAPPs) constantly becoming more and more complex, it is going to be necessary for smart contracts to have access to data from a range of real-world sources. Therefore, its network will ensure that data is being delivered to developers and other relevant partners, while Chainlink expands its oracle services by making use of the true random number generator service by HPB.

Both members are convinced about the massive potential of the partnership.

HPB’s managing director of global business development, Danny Rowshandel, said:

“By integrating Chainlink’s oracle services, we will get one step closer to real-world adoption of blockchain technology.”

Adding to this, Chainlink’s global head of business development, Daniel Kochis, said:

 “We are excited to work with HPB to provide their developers with access to off-chain data and to also provide them with a channel for their random number generation to power smart contracts.”

The latest partnership

HPB has reportedly partnered with various businesses recently.

Back in July, HPB announced its partnership with Shanghai Youwan, a gaming company based in China. It wishes that the collaborations will give millions of customers exposure to blockchain for the first time and make its way to mass adoption. It could also make gaming experiences worldwide even better, thanks to HPB’s advancements in the true random number generation services. 

In total, HPB has copped more than 70 partnerships and decentralized applications, most of which being beyond just the gaming industry, extending to fintech and infrastructure. The company also has good relations with IFC’s SME Forum, allowing it to discuss with the policy-makers and other influential leaders as to how blockchain can be leveraged to help society and economy as a whole.

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