An impending deal between blockchain scaling technology company StarkWare and Chainlink Labs will result in the addition of Oracle services, data feeds, and pricing feeds to the StarkNet ecosystem. This relationship will be established in the near future.

Due to the relationship, StarkWare will participate in Chainlink’s Scale program, and StarkNet’s testnet pricing will come from Chainlink. Additionally, StarkNet tokens will be used to fund some of the operating expenses of Chainlink’s oracle nodes. This access to Chainlink Oracle services and data feeds will be provided to Starket developers through the use of StarkNet tokens.

Chainlink is a decentralized Oracle network that allows smart contracts to access off-chain data sources, application programming interfaces (APIs), and payment systems in a secure manner. It makes it possible for smart contracts to interact with data and events that take place in the real world, which in turn makes it possible for them to be triggered by data originating from external sources.

The network uses decentralized nodes, which are entrusted with the responsibility of delivering smart contracts with reliable and secure data. In exchange, these nodes are rewarded with payments in Chainlink’s native LINK coin. The data that the node operators provide to the smart contracts has been verified and calculated by the node operators before sending it to the smart contracts. This verifies that the information is accurate and can be trusted.

According to a statement published by StarWare, an economically viable framework has been built between StarkNet and Chainlink. [Citation needed] The integration is also expected to provide developers working on StarkNet with the basic infrastructure needed to build “more sophisticated and secure high-performance smart contract applications.”

Oracles are an important part of the system and their value can be seen in a wide range of applications due to the flexibility they provide. Knowledge of current asset value or NFT is required for a significant number of applications. Oracles are often compared to extensive toolkits due to their breadth of functionality.