Chainlink

Provide External Data to Ethereum Smart Contracts with an Oracle Network

With Chainlink on Kaleido you can connect to any external API, send payments anywhere, and more.

What it

Chainlink

is

What it is

Chainlink is a decentralized oracle network used to provide external data to Ethereum smart contracts. Connecting external data allows a contract to have the information from real-world external events, APIs, and other blockchains.

The Chainlink network provides reliable tamper-proof inputs and outputs for complex smart contracts on any blockchain. Smart contracts allow you to execute tamper-proof digital agreements, which are considered highly secure and reliable.

In order to maintain a contracts’ overall reliability, the inputs and outputs which the contract relies on also need to be secure. Chainlinks provide a reliable connection to external data, that is provably secure end-to-end.

Connect to any External API

Connect your smart contracts to the inputs and outputs it needs to reach its full potential.

Send Payments Anywhere

Send payments from your smart contract to payment networks and bank accounts with ease.

Trusted Gateway

Chainlink is built on a network of independent node operators to offer unique integrations.

Announcement

Are You a ConsenSys Quorum Blockchain User?

Kaleido is the preferred migration partner working with ConsenSys to ensure continuation of the Quorum Blockchain service. If you’re interested in continuing your service by migrating to Kaleido, please contact our team and we'll be happy to assist.

Hyperledger Fabric at a glance

Permissions

Built for permissioned networks

Governance

Data isolation and strict governance enabled by Hyperledger Fabric certificate authority

Transaction Flow

Unique Execute-Order-Commit endorsement model where transactions are initially executed on a set of peers while ordering service handles packaging and delivery

Consensus Algorithms

Ordering can be switched based on the needs of the environment with pluggable consensus algorithms

Smart Contract Language

Go, Java, Node.js

What Is Hyperledger Fabric?

Since launching in 2015, Hyperledger Fabric has been a top choice for enterprises looking to build apps on permissioned blockchain networks. The modular architecture is capable of powering large-scale applications that require enterprise-grade data security.

The ability to protect certain details of peer transactions has made Hyperledger Fabric a go-to protocol for industries like financial services, supply chains, and the insurance industry. It works for complex use cases that involve personally identifiable information and proprietary business data.

Hyperledger Fabric is one of the many protocol choices available on Kaleido. With a full suite of plug and play services, flexible cloud deployment options, and powerful APIs, Kaleido is the easiest way to run a Fabric network anywhere.

Benefits of Hyperledger Fabric

Hyperledger Fabric is an open source project designed to handle enterprise-grade use cases. Key differentiators are its quick transaction throughput and its modularity, allowing for more innovation and optimization regardless of industry use cases. Other benefits include scalability and security, key pillars of any enterprise application.

Modular & Pluggable

Hyperledger Fabric is a modular blockchain framework that allows you to plug in different components, such as consensus algorithms and membership services, and tailor networks to your needs

Open source

Part of the Hyperledger project of the Linux Foundation, Hyperledger Fabric is an open source protocol that allows the enterprise to build custom applications and limit vendor risks

Security

With a high level of security for enterprise users, Fabric uses a permissioned network to prevent unauthorized access

Hyperledger Fabric certified service provider badge

Our Hyperledger Fabric Expertise

Kaleido is a Hyperledger Certified Service Provider (HCSP) with a deep expertise in helping enterprises successfully adopt Hyperledger tools. Our founding partners are also active with the Hyperledger Foundation. Sophia Lopez is a General Member representative on the Hyperledger Foundation Governing Board and Jim Zhang is a member of the Hyperledger Foundation Technical Oversight Committee.

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Benefits of Quorum

Quorum is a blockchain protocol specially designed for use in a private blockchain network, where there is only a single member owning all the nodes or a consortium blockchain network where multiple members each own a portion of the network.

Scalability

Quorum is designed to be highly scalable, with low transaction latencies and the ability to support a higher number of transactions per second than other blockchain protocols. This makes it well-suited for use in high-volume applications.

Security

Quorum includes a number of security features that are designed to protect sensitive or proprietary data, like private transactions that allow network participants to transact without revealing the details of their transactions to the rest of the network.

Flexibility

Quorum is based on the Ethereum protocol and can support a wide range of decentralized applications and smart contracts. It is also highly modular and customizable so that it can be tailored to the needs of specific use cases.

Gas-free transactions

There is no cost required to submit transactions to a Quorum network, unlike Ethereum, which requires the payment of high and unpredictable gas fees to submit transactions.

Hyperledger Fabric certified service provider badge

Our Hyperledger Fabric Expertise

Kaleido is a Hyperledger Certified Service Provider (HCSP) with a deep expertise in helping enterprises successfully adopt Hyperledger tools. Our founding partners are also active with the Hyperledger Foundation. Sophia Lopez is a General Member representative on the Hyperledger Foundation Governing Board and Jim Zhang is a member of the Hyperledger Foundation Technical Oversight Committee.

Talk to an Expert
How it works

How it Works

Chainlink has been popular in the blockchain community with its architecture as a decentralized Oracle technology. Unlike other Oracle designs that rely on a centralized party to be trusted as a gateway, Chainlink is built on a network of independent node operators to offer unique integrations. The node operators are rewarded with the LINK tokens for performing verifiably honest and high-quality work. They can also be punished for being dishonest or turning up a result of poor quality.

The Oracle contract is at the center of the Chainlink design. This is a core aspect of how Chainlink is used in Kaleido blockchain networks.

  • Controls which Chainlink nodes are allowed to fulfill job requests
  • Gateway for client contracts to access the Chainlink network
  • Relays job execution results from the Chainlink network back to the client contract
  • Locks Chainlink node operator deposits as punishment for poor performance

The contract communicates with the Chainlink network nodes by publishing EVM events specifically designed to broadcast client requests for external data or job execution: OracleRequest. The request object contains the job ID, client payment amount, client’s desired job execution parameters, and callback addresses for the client contract to accept job execution results.

More than one Oracle contract may be active in a blockchain network. A Chainlink node operator may choose which Oracle contracts to register with in order to be permitted to handle job requests. A Chainlink client contract may choose which Oracle to send the job request to.

Client Smart Contract

The main consumer of the Chainlink Oracle function is naturally a smart contract. This is what the application developers building enterprise blockchain solutions need to develop.

As described above, a client smart contract is not allowed to interact with the outside world. This must be done by going through a mechanism where the need for the external data is broadcast via transaction events, then an external party that listens for such events gets notified for the request, and grabs the requested data and finally sends it into the chain by calling the smart contract via a transaction.

Enterprise Use Cases
Run Better on Kaleido

Hyperledger Fabric is a private blockchain that allows developers to create subnets, or channels, meaning that certain proprietary or personal information can remain confidential. This makes Fabric a protocol of choice for industries like financial services, insurance, and supply chain management.

Supply Chains

Hyperledger Fabric networks can increase transparency and traceability of transactions within the network. This transparency can be used to monitor real-time location data, limit fraud and counterfeit goods, and track ESG efforts.

Digital Assets

Complex multi-party business networks built on Fabric can easily tokenize assets, transact instantly, share data, and eliminate cumbersome paperwork as financial business flows are automated.

Insurance

Moving insurance transactions to blockchain can eliminate fraud, automate claim processing, and digitize legacy systems. Hyperledger Fabric also allows stakeholders to automate Know Your Customer (KYC) processes via smart contracts.
Why Kaleido

Try Truffle on Kaleido

Kaleido's blockchain platform makes it radically simple for businesses to create complete web3 networks and applications. With just a few clicks, you can launch a blockchain network, deploy it globally, set up governance, and start plugging in familiar services.

Quickly Launch Blockchain
Networks

Launch blockchain networks in minutes
Choose from leading protocols including Ethereum, Polygon Edge, Hyperledger Fabric and more
Select permissioned chains, appchains,  sidechains, or consortium chains
Deploy on AWS, Azure or on-prem
Stand up nodes worldwide in regions of your choice

Simplify Development to Get to
Production Fast

Access 40+ plug-and-play services for wallets, key management, storage, data, and more
Automate management and deployment with our fully API-enabled platform
Turn any smart contract into familiar APIs with our smart contract API generator
Make digital assets, NFTs, and consortiums easy with our dedicated solutions
Mint, manage, and burn tokens at scale with robust tooling

All Backed by Enterprise-Grade Infrastructure and Support

Modern cloud scale architecture
Built-in high availability and disaster recovery
ISO 27k and SOC 2 Type 2 certified
Integrate seamlessly with existing internal systems
Open source tech and no vendor lockin
24x7 support and SLAs

Enterprise Use Cases Run Better on Kaleido

Quorum is a protocol of choice for industries like financial services, insurance, and supply chain management where enterprise-grade.

Additional Resources
Learn More About
Chainlink
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Chainlink
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Frequently Asked Questions

Who developed Chainlink?

Sergey Nazarov launched Chainlink in 2017. Chainlink connects the chain to external data sources and contributes to security by verifying contract parameters are met with off-chain sources. Chainlink Labs is a group focused on accelerating the adoption of and innovation around smart contracts. Chainlink Labs publishes research on blockchain technology.

Where does Chainlink get its data?

Chainlink takes data feeds from off the chain and puts the information in a format that the chain can understand. The reason for doing this is simple. Imagine a smart contract calls for an amount of ETH to be paid to a party once a condition is met. When the condition is met, the contract needs to know the value of ETH. Chainlink can be used to pull the value of a token at the time a transaction is made.  This ability to unite off-chain data with on-chain information creates a hybrid smart contract, using the Oracle network to complete more complex chain computations and more agile tasks.

How do Chainlink Nodes Validate Data?

The Chainlink Aggregating Contract can pull data from multiple sources. If the sources differ, the contract can reject faulty values or take the average of those values. The most important part is how Chainlink grabs this data and translates it into language the chain can understand. Chain data is handled differently than real work data, so Chainlink does a lot of the work for a developer in aggregating information.

What is a Link token?

LINK is a cryptocurrency that is used to incentivize node operators. It’s not really used for regular, everyday purchasers. Any network participant that facilitates the transmission of off-chain data to a network can be paid in LINK. LINK is an erc-20 token.