Paralink Network Integrates With Binance Chain for Oracles

Paralink Network Integrates With Binance Chain for Oracles
  • Paralink Network now offers oracle services to Binance Smart Chain nodes.
  • Binance Smart Chain is a blockchain network that offers better alternatives to Ethereum.
  • A blockchain oracle serves as a data bridge between a blockchain network and the outside world.

Oracle service Paralink Network has integrated with Binance Smart Chain (BSC), enabling node operators to better execute smart contracts within the said ecosystem.

Aside from this, Paralink also said that they are preparing a Paralink Network BSC partnership program. This will assist projects running on BSC to deploy the former’s oracle contracts by providing technical support.

As the name suggests, BSC was created by crypto exchange Binance to offer a better alternative to Ethereum. It provides fast transaction confirmations without the expensive gas fees that still plague Ethereum today.

The announcement added,

We believe BSC is one of the most suitable technology stacks for the  DeFi landscape. Its low transaction costs combined with higher throughput make it an excellent choice for oracle solutions to provide real time and cost accessible data.

For those who are not familiar with blockchain oracles, these are services that offer external information to smart contracts. As per its design, a blockchain network does not have direct contact with information or any entity outside of its ecosystem. Unfortunately, many smart contracts need additional information for them to execute properly.

For example, if a smart contract related to sports betting needs to know the results of a particular match, an oracle will provide a direct link. This way, the contract will know which team won and who to give the winnings to without any delay. In essence, a blockchain oracle functions as a bridge between a blockchain network and the outside world.

disclaimer read more

Crypto News Land ( , also abbreviated as “CNL”, is an independent media entity — we are not affiliated with any company in the blockchain and cryptocurrency industry. We aim to provide fresh and relevant content that will help build up the crypto space since we believe in its potential to impact the world for the better. All of our news sources are credible and accurate as we know it, although we do not make any warranty as to the validity of their statements as well as their motive behind it. While we make sure to double-check the veracity of information from our sources, we do not make any assurances as to the timeliness and completeness of any information in our website as provided by our sources. Moreover, we disclaim any information on our website as investment or financial advice. We encourage all visitors to do your own research and consult with an expert in the relevant subject before making any investment or trading decision.

CryptoNewsLand (CNL) is a one-stop online crypto news website that offers the latest happenings in the crypto world.