Yesterday Chainlink (LINK), famous for its decentralized oracles, announced that T-System MMS, part of the German giant Telecom, your node has started and will be part of the network of decentralized oracles.
We're thrilled to welcome @DeutscheTelekom’S @TSystems_MMS IT Services group to Chainlink. @Tsystemscom’S world-class infrastructure team secures a large amount of enterprise value today & is now on mainnet helping secure Chainlink’s oracle network.
– Chainlink – Official Channel (@chainlink) July 22, 2020
The press release explains the importance of being able to automate and optimize technological processes also thanks to the use of smart contracts and that over time the systems are improving and integrating in different areas of traditional technologies such as IoT (Internet of Things).
Obviously, smart contracts have limitations and until some time ago they could not operate data from outside the blockchain, so we had to find a system to interact with them.
That is why oracles were invented, tools that take data from an external source and enter it into smart contracts, or rather they are called by smart contracts.
Not all oracles have the same functions or are based on the same technology, in fact, there are centralized and decentralized oracles.
Chainlink is an oracle that defines itself as decentralized and allows for even faster data management than centralized oracles.
In order to spread this type of technology, T-System Multimedia Solutions has decided to put itself at the forefront and create your decentralized Chainlink node, in order to support the network and provide up-to-date, accurate and reliable data.
These data are essential both in the business world and in the decentralized finance (DeFi) sector, as reiterated in the press release:
“Due to the decentralized structure of the Chainlink oracle solution and the incentives attached to its provisioning, the developer and user of a smart contract can rely on the off-chain data provided by the Chainlink Network. At T-Systems Multimedia Solutions we want to strengthen the network with our professional infrastructure, as well as monetize the data we provide through a digital asset native to the network. ”
Looking at the Chainlink price, we can see that it appears to have calmed down compared to last week's peak, when LINK posted its ATH at $ 8.80, while it now appears to be returning to more normal levels at $ 7.