IOTA and Horizen bring IOTA Oracles to other blockchains
IOTA has agreed a partnership with blockchain provider Horizen to bring its own Oracles to other blockchains.
IOTA has agreed to cooperate with blockchain provider Horizen to make its own Oracles for feeding real-time data into smart contracts usable on other blockchains. IOTA announced this in a blog post on 1 March.
Horizen describes itself as one of the most Financial Peak secure blockchain ecosystems with one of the largest and most decentralised node infrastructure in the industry. With its sidechain technology Zendoo, Horizen offers all the necessary components for an easy deployment of fully customisable blockchains. With ZEN, Horizen also has its own cryptocurrency, whose price currently stands at 42.97 US dollars.
IOTA shows openness to blockchains
As part of the partnership, the partners want to exchange expertise „to expand into areas that are beneficial for both ecosystems“.
The first goal is to make IOTA Oracle’s functionality available for applications on Horizen sidechains. This is to be done in two phases. The first step is to integrate the IOTA Oracles feed into a proof-of-concept of a Horizen sidechain. A second phase envisages the integration of the IOTA Oracles directly into the Horizen sidechains SDK. This way, IOTA will make Oracles available as an option „to anyone who launches a Horizen sidechain“, IOTA writes.
IOTA oracles to enable real-time data in smart contracts
IOTA had only announced its own Oracles to feed real-time data into smart contracts on the Tangle network in early February. In contrast to many blockchain oracles, the Tangle offers a number of advantages with the IOTA Oracles, such as free transactions and near real-time settlement.