- Filecoin (FIL) is in the process of integrating with Chainlink
- The move will create an end-to-end Web 3.0 development stack which will enable bidirectional communication between the Filecoin and smart contracts
- Chainlink and Filecoin Trusts were recently launched by Grayscale
- Chainlink now has a total of 461 projects that have integrated its technology
The decentralized file storage project of Filecoin (FIL) is in the process of integrating Chainlink’s oracle solutions.
The teams at both Filecoin and Chainlink made the announcement earlier today explaining that the integration will ‘enable bidirectional connection between the Filecoin Network and smart contract enabled blockchains such as Ethereum.’
Consequently, ‘smart contract developers will have a full Web 3.0 infrastructure stack including blockchains for on-chain logic and state changes, Chainlink oracles for off-chain communication and computation, and Filecoin for decentralized storage and data solutions.’
The team at Filecoin is currently exploring the following use-cases of Chainlink Oracles.
- Filecoin miner insurance
- Data Bounties
- DeFi Data
461 Projects Have Integrated Chainlink Technology
Filecoin integrating Chainlink adds to a budding list of projects that have opted for oracle solutions by the latter project. According to ChainlinkEcosystem.com, 461 blockchain projects have now partnered, collaborated, and/or integrated Chainlink since the project was launched back in 2017.
To note is that 34 of these integrations happened within the month of February alone hinting that the Chainlink ecosystem will continue to grow as time progresses.
Grayscale Continues to Accumulate Chainlink and Filecoin
News of Filecoin integrating Chainlink oracles comes days after Grayscale announced it was launching LINK and FIL trusts alongside – those of Decentraland, Livepeer and Basic Attention Token – for accredited individual and institutional investors.
A quick glance at Bybt.com reveals that the Chainlink and Filecoin trusts are now worth $1.35 million and $1.33 million respectively. However, the three other trusts of Decentrland (MANA), Livepeer (LPT) and Basic Attention token (BAT) are slightly ahead in terms of total value under management by Grayscale.
Below is a screenshot from Bybt.com demonstrating the progress of the five new trusts by Grayscale.