One of Switzerland’s largest telecommunications companies, Swisscom, has joined the Chainlink oracle network. The node launched by the organisation will feed price data for digital assets into the blockchain.
Switzerland’s leading telecommunication & IT infrastructure provider @Swisscom is now running its own official #Chainlink node on mainnet and servicing Chainlink Price Feeds, further increasing the robustness & decentralization of Chainlink oracle services.
— Chainlink — Official Channel (@chainlink) August 5, 2021
Blockchains do not have access to information outside their networks, so they require specialized programs— oracles—that provide data from external sources for smart contracts. Chainlink connects them via APIs to external resources—decentralized applications, payments, and corporate systems.
\”Swisscom’s Digital Assets Department is responsible for the pilot initiative and ensuring the operation of the so-called node oracle, which will continuously transmit price data for digital assets to the Chainlink network. In this way, Swisscom takes on the role of a data provider for the rapidly growing DeFi sector,\” the company said.
In an interview with CoinDesk, Chainlink co-founder Sergey Nazarov noted that Swisscom possesses a key attribute for a node operator—high security standards. Nazarov also stressed that more and more enterprises “are beginning to see the value in running nodes.”
Swisscom’s headquarters are in the Swiss municipality of Ittigen (Bern canton). The company is 51% owned by the government. It employs around 19,000 people.
Swisscom became the second telecoms company to join the Chainlink network. Deutsche Telekom’s division launched a node in July 2020.
Earlier in April 2021, Grayscale Investments, a digital asset manager, added the LINK token — which powers the Chainlink ecosystem — in the Digital Large Cap Fund.
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