Cardence will offer developers a secure platform for new projects to launch.
Cardano Arrives to Binance
Cardence, a new multi-chain platform based on Cardano, is getting ready to help blockchain projects launch with Chainlink Oracle Services. Cardence will be the first decentralized presale platform on Cardano, and with Chainlink’s help, it will foster a safe ecosystem for projects to get started.
Cardence will integrate two main functions from Chainlink: the Price Feed Integration and the Verifiable Random Function (VRF). Both functions bring several improvements, as indicated in their Medium press release from Cardence on September 8. Projects will be able to safely set up marketing, token release schedules, and other services on the platform.
“Cardence announced its integration with Chainlink for implementing multi-currency purchases on its decentralized presale platform,” Obaid Ul Ahad, Cardencee’s Founder and CEO, told BSC.News. “Cardence will be the first decentralized presale platform on Binance Smart Chain (BSC) which allows the release of tokens according to a vesting schedule and creation of referral program for viral marketing of presales.”
The partnership will allow projects to begin across numerous chains under some of the safest functionality enhancements known in crypto. Millions of users trust Chainlink, and it already ensures billions of dollars across crypto. Cardano is currently the third-largest cryptocurrency by market cap according to CoinMarketCap, and should provide plenty of liquidity for projects to grow.
As pointed out in the press release, Chainlink will provide two primary services to Cardence: the Price Feed Integration and the Verifiable Random Function (VRF).
The Chainlink Price Feeds will help by providing highly secure and reliable market data for users when they participate in presales while using multiple different cryptocurrencies on different chains. Most Decentralized Finance (DeFi) users hold dozens of cryptos, so this will be helpful when maneuvering through various project launches.
The price feeds will also help by providing accurate, aggregated trading data, highly secure data sourcing, and data delivery to prevent attacks like flash loans along with the reliability of Chainlink’s tamper-proof price feeds.
“We are pleased to bring enhanced functionality to our ecosystem by integrating two highly secure and reliable oracle services from the Chainlink Network,” stated Ahad in the press release. “Chainlink Price Feeds will help ensure that our users have consistent access to fair-market exchange rates for crypto-to-crypto transactions, while Chainlink VRF establishes a fair selection mechanism for picking users within high demand processes.”
The Chainlink VRF will provide an auditable source of on-chain randomness to ensure fairness and transparency for reward distributions and IDO whitelisting on Cardence. Projects will be able to use the Oracle Services from Chainlink to guarantee users of these services.
According to its Roadmap, Cardence is set for a mainnet launch in Q4 of 2021. As the mainnet launch date approaches and gets confirmed, we should see more news come from Cardence. The project looks to announce more exchange listings as well as governance and DAO details. Stay tuned.
Chainlink is the industry standard oracle network for powering hybrid smart contracts. Chainlink Decentralized Oracle Networks provide developers with the largest collection of high-quality data sources and secure off-chain computations to expand the capabilities of smart contracts on any blockchain.
Managed by a global, decentralized community, Chainlink currently secures billions of dollars in value for smart contracts across DeFi, insurance, gaming, and other major industries.
Chainlink is trusted by hundreds of organizations, from global enterprises to projects at the forefront of the blockchain economy, to deliver definitive truth via secure, reliable oracle networks. To learn more about Chainlink, visit the following links:
Cardence is a Cardano-focused, multichain decentralized presale platform that creates a trustless fundraising ecosystem. It is launching on BSC, Ethereum, Matic, Cardano, and Solana networks. It is the first presale platform that facilitates affiliate marketing of projects, the release of tokens according to a vesting schedule, whitelisting of participants, and auto-locking of liquidity.
Additionally, dApps like SmartMint or Locker App allow for the creation of new tokens without writing any code and time-locked token vaults for the release of tokens according to a vesting schedule.
Source : bsc.news
Founded in 2020, BSCNews is the leading media platform covering decentralized finance (DeFi) on the Binance Smart Chain (BSC). We cover a wide range of blockchain news revolving mainly around the DeFi sector of the crypto markets. BSCNews aims to inform, educate and share information with the global investment community through our website, social media, newsletters, podcasts, research, and live ask me anything (AMA). Our content reaches hundreds of thousands of global investors who are active in the BSC DeFi space.