The partnership was struck at SmartCon, an event organized by Chainlink in New York.
For enterprises to adopt blockchain technology, they need to bring their data onchain and then query and utilize it. Chainlink and The Graph are targeting this market with a new partnership that promises to propel institutional adoption of public blockchains.
The new partnership was revealed by Nick Hansen, the team lead at The Graph Foundation, on the sidelines of SmartCon, an annual flagship event organized by Chainlink.
“I see the relationship between Chainlink and The Graph as very collaborative. Somehow, we’ve got to get the world’s data onchain. That’s a huge task, and Chainlink is leading the way and doing remarkable work there,” Hansen stated.
Once this data is onchain, users require protocols that allow them to access, read and utilize it. This is what The Graph offers, according to Hansen.
The Graph makes accessing blockchain data easy and more intuitive. That relationship [with Chainlink]is a very important collaboration. We have to get the data onchain and we have to be able to read it.
The Graph is a decentralized indexing and query network that enables developers to easily access onchain data. It can be used to access any blockchain network, indexing data that can then be queried using GraphQL. As we reported, Yaniv Tal founded the network to simplify access to onchain data, kind of like ‘a Google of blockchain data.’ It launched at the end of 2020, and since then, it has been integrated by hundreds of platforms, including projects built on Ethereum.
“Web3 is ready for institutional adoption,” Hansen notes. He pointed to the immense success of Chainlink’s SmartCon as proof that institutional players are ready to dive in. At the event, held in New York, leaders from Swift, Mastercard, JPMorgan, and other Wall Street giants took to the stage to discuss their Web3 projects.
The Graph shared the stage with DTCC, the largest post-trade market infrastructure company in the world, and according to Hansen, “this is in and of itself remarkable…The fact that we’re sharing a stage and talking about the future of blockchain data and the ways in which DTCC can leverage The Graph for their own business is remarkable.”
As CNF reported, Chainlink continues to expand its ecosystem, announcing integrations with 45 protocols this week, including Coinbase and Swift. Coinbase has also selected the network’s CCIP as its exclusive bridge for expanding its cbBTC and cbXRP across multiple chains. However, its price continues to lag. A slight gain in the past day wasn’t enough to wipe out its 6.5% dip in the past 30 days. Year-to-date, it’s down 35% and now trades at $12.9 at press time.
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