Fetch.ai has recently announced that it had completed a direct integration of Chainlink.
Fetch.ai is now Chainlinked.
Being the most widely used decentralized oracle network, the Chainlink’s Price Reference Data allowed the users to verify the price of the assets on-chain while enhancing security against price manipulation at the same time.
Fetch.ai’s network is based around open-source technology. It gives users access to the power of AI on a world-scale secure dataset to carry out complex coordination tasks in the modern economy.
The firm built a decentralized network to create an infrastructure required for the Al-driven autonomous software agents to perform the useful economic work on behalf of the individuals, businesses, and organizations.
The “agent-based system” has created an environment where the digital representatives of the economy’s moving parts, like data, hardware, services, people, and infrastructure, it can carry out complex coordination tasks in the modern economy.
The price reference data integration marked the first step in Fetch.ai’s adoption of Chainlink’s decentralized oracle network to connect Fetch.ai with valuable access to real-world economic, currency, and commodity price data.
The upcoming developments also include the enhancement, development, and deployment of the real-world applications in mobility, finance, logistics, and IoT ecosystems that rely on a decentralized oracle network to connect the physical world with the digital world.
The CEO of Fetch.ai, Humayun Sheikh, said on the incorporation:
He also added that the development would additionally “speed up the adoption of Fetch.ai autonomous software agents and provide the necessary information for them to communicate with sophistication in real-life scenarios.”
How the price feeds aid the market
At the inception, Chainlink’s Price Reference Data will then be used to deliver price perceptions into Gold: USD and Silver: USD on Mettalex, a decentralized crypto and commodities derivatives trading platform powered by Fetch.ai.