Xinfin’s Mycontract.co Expands Chainlink’s Oracles beyond Trade FinanceSeptember 21, 2020
Xinfin’s smart contract creation tool, Mycontract.co took a new look after the inclusion of new smart contract features like the integration of Chainlink oracles. The tool has been known to ease the creation of Ethereum-based smart contracts like ERC-20, 721, and 223 without the need of a developer input. Mycontract.co simplifies the creation of smart contracts, within few simple steps of filling necessary features, smart contracts can be easily deployed.
September 15, 2020, Xinfin Hybrid blockchain announced the integration of Chainlink Oracles to power trade finance use via its smart contracts:
“XinFin[XDC] Network is excited to announce our planned integration with Chainlink, the market-leading decentralized oracle network, to bring off-chain resources to our trade finance platform. Our initial integration will be focused on using Chainlink’s Price Reference Data framework to launch decentralized price feeds for HKD/USD, SGD/USD, and AED/USD.”
The integration will allow smart contracts to connect and access price feeds from different data sources. New smart contract models operate efficiently and fairly by accessing off-chain data to execute actions. Since the vision of Xinfin is to make trade financing seamless, secure, and fast via smart contracts on the blockchain. These smart contracts need to access real price feeds so they can efficiently execute cross-border trade finances.
But the Developers at Xinfin have widened their thoughts and creativity beyond the trade finance use case for smart contract oracle integration. They made it such that anyone can access and create smart contracts on Mycontract.co with the Chainlink oracles integration.
Atul Khekade, co-founder of Xinfin stated:
“We plan to use Chainlink to greatly expand the amount of on-chain resources our users have access to while retaining the critical security benefits they receive around decentralized security.”
MyContract.co is a middleware that can be integrated as a tool by any developer to suit their own purpose. Xinfin is looking for partners to help scale the tool up. According to Atul in a LinkedIn comment after announcing the Mycontract.co’s new look:
“We are actively looking to recruit partners who can help us scale this up. So feel free to reach out. Cheers!”
Xinfin has proven itself a blockchain that completes transactions faster and with a near zero fee than Ethereum not as a competition but as a new innovation with solutions to the World’s Trade Finance bottlenecks at its core. It has been active lately in inviting Ethereum developers to try its platform and migrate their D’apps for better results. With Chainlink’s inte