Chainlink Labs joins Hedera Governing Council

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Chainlink Labs has joined Google, IBM, Boeing and EDF to support the stability and decentralization of Hedera’s public network.

The decentralized public enterprise network Hedera Hashgraph announced yesterday that Chainlink Labs has joined the Board of Directors of Hedera.

With its distributed ledger technology (DLT), known as Hashgraph, Hedera provides a network in which fast, fair and secure applications can be used.

The project is owned and managed by the Hedera Governing Council. The 39 different organizations of this Board of Directors regulate software changes and maintain the stability and decentralization of the public network. Council members include Google, IBM, Boeing, LG, EDF, Deutsche Telekom and University College London.

In collaboration with Hedera, Chainlink aims to implement initiatives that help bridge the gap between traditional and distributed finance (DeFi) by exploring use cases of Hedera’s technology and distributed applications (dApps) for businesses.

Mance Harmon, Managing Director of Hedera Hashgraph, commented: „Chainlink is the most widely used decentralized Oracle solution on the market and is already being used to secure billions of dollars of resources for applications around the world. Your possibilities in the Hedera network, which is already the most frequently used public network for companies, are limitless. We are pleased to expand our relationship with Chainlink, the first Web 3.0 company in the Hedera Governing Council, to pave the way for the most robust applications of the decentralized future.“

Chainlink’s decentralized Oracle network extends the capabilities of smart contracts by providing access to real-world data and calculations outside the chain. Chainlink’s data feeds are already used by many blockchain projects, including Aave, Synthetix, Yearn.Finance, Celsius, Theta, Unstoppable Domains and Crypto.com.

David Post, Managing Director of Business Development and Strategy at Chainlink Labs, added: : „As the adoption of distributed ledger technology in companies continues to advance, distributed Oracle solutions are becoming important for every vertical industry-from DeFi and insurance to gambling, NFTs and more. We are further expanding our range of services related to smart contracts so that we can provide a wide range of secure, feature-rich applications. Joining the Board of Directors of Hedera was therefore a natural development for us. Together with the leading public enterprise network and the other members of the Council, we are working to make Chainlink the leading Oracle provider for enterprise applications.“