China’s national blockchain platform, the Blockchain-Based Service Network (BSN), will receive support from Chainlink oracles for working with external data, and Cosmos for working with other blockchains.
According to BSN representatives, SmartContract (behind Chainlink) and Iris Foundation (Cosmos) will help create a “service hub” that will become the basis for the “Internet of blockchains”. This hub will allow decentralized applications running on various blockchains to interact.
“Our users will be able to get external data, such as stock prices and financial transaction data, through the Chainlink oracles, as well as through the Cosmos project to work with multiple blockchains,” said Yifan he, CEO of Red Date Technology, a key player in the BSN project.
He noted that when the company first started experimenting with blockchain, he was surprised and delighted with the breadth of opportunities that were opening up. But also disappointed with the cost of launching a blockchain. According to him, it took them half a million yuan ($70,000) to create the infrastructure and launch the blockchain nodes.
BSN is trying to become a platform that will give its users access to any blockchain. According to Yifan he, the project adds support for at least three networks every month. The demonstration of services for interaction of various blockchains will take place in September.
Previously, the integration of Chainlink price oracles was announced by the Kadena platform, the Tezos project, and the DeFi platform, the Celsius Network.