Amazon Web Services (AWS) has announced their decision to make Chainlink’s data feeds, data streams and proof- of-reserve solutions, all available on AWS Marketplace. This indicates that companies can plug blockchain-connected data tools directly into their existing clouds.
Chainlink oracle services to AWS marketplace
Chainlink’s oracle stack will now be a part of the AWS marketplace, a step closer to accelerating banks, asset managers and fintechs into tokenization, on-chain real world assets and the adoption of stablecoins.
AWS marketplace called it an “all-in-one oracle solution”, and at its core, the integration is about reducing friction. Enterprises can now access Chainlink’s oracle services, data feeds, and others, without stepping outside the AWS ecosystem they already rely on.
Chainlink operates one of the largest decentralized oracle networks, connecting smart contracts. According to the media, the users get direct access to AWS compute, storage, data sources and their execution engines for on‑chain smart contracts.
The ‘oracle problem’ and its solutions
Chainlink has been well positioned as a vital crux of the blockchain infrastructure since the launch of its mainnet in 2019. Its network has secured $29 trillion in transaction value from over 80 public and private blockchains.
As enterprises have been increasingly looking over tokenization and on-chain finances, the move seems to be a big win for the industry. The protocol’s infrastructure emphasizes security at a time where the space deals with cross-chain bridge hacks that have resulted in $3 billion in losses.
Their official report addressed the oracle challenges in the blockchain technology as they rely only on the data available within its own system and do not natively interact with external data sources. The industry refers to this as an ‘oracle problem’.
This imitation poses a practical challenge as real-world use cases increase. In the case of tokenization, this becomes a ‘foundational challenge’, as the real-world data provides value and utility to these assets.
What is chainlink offering?
Currently, Chainlink is providing three services on AWS to support common use cases. This focuses on giving the blockchains reliable prices and market data from reliable sources, and delivery data quickly to help them reach to it instantly and also letting users verify their assets are backed by genuine reserves.
For developers, the Marketplace listing reduces the gap between traditional finances on AWS and the on-chain application, withdrawing the urge for an oracle infrastructure. For enterprises, they can trial tokenized assets, stablecoins and smart contract integrations within existing cloud governance, and billing within a secure infrastructure.
