As claimed by the Ledger Insights report, Everipedia, a blockchain firm, has collaborated with news agency The Associated Press (A.P.) and decentralized oracle provider Chainlink (LINK).
The coordination among the three firms aims to enable the A.P. to distribute U.S. election results onto a blockchain securely and transparently. In return, the underlying blockchain architecture can be used to verify the news’s legitimacy from A.P.
As the Presidential election in the U.S. moves closer, the threat of fake news seems to be snowballing into a bigger problem for social media platforms on the Internet. Major tech firms, including Facebook and Twitter, are already running the midnight oil to address these issues at the earliest.
The A.P. will tap shared ledger technology (DLT) to sign the data cryptographically – the incoming election news – to validate that it originates from the organization. Although not 100 percent secure, this methodology will still be significantly faster than just conventionally publishing data.
Distinctly, Chainlink will play a pivotal role in the whole architecture. Its decentralized oracles will be used to fetch data from the outside world, including price feeds, weather data, or this particular use-case election news.
The article by Ledger Insights reads in part:
“It connects to conventional APIs and feeds the data to multiple public blockchains in a secure manner. One of the biggest services it provides is ensuring the API doesn’t stop feeding data to the blockchain. Hence Chainlink is being used for the A.P. oracle.”