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Scroll Foundation and Chainlink Labs partner to boost Ethereum’s growth

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TL;DR Breakdown

  • Scroll Foundation has formed a strategic alliance with Chainlink Labs to enhance Ethereum’s growth.
  • As part of the collaboration, Scroll will join Chainlink’s SCALE initiative to improve Ethereum programming’s efficiency and user experience.
  • Chainlink’s SCALE program is recognised in the industry for providing L1s and L2s with premium oracle services.

Description

Scroll Foundation has announced a strategic partnership with Chainlink Labs. This collaboration aims to bolster Ethereum‘s growth, with Scroll joining Chainlink’s SCALE initiative.  Scroll Foundation, known for its zkRollup built on the zkEVM virtual machine, is a formidable rival to Ethereum. Hence, this alliance with Chainlink Labs is set to reshape the landscape. The collaboration’s … Read more

Scroll Foundation has announced a strategic partnership with Chainlink Labs. This collaboration aims to bolster Ethereum‘s growth, with Scroll joining Chainlink’s SCALE initiative. 

Scroll Foundation, known for its zkRollup built on the zkEVM virtual machine, is a formidable rival to Ethereum. Hence, this alliance with Chainlink Labs is set to reshape the landscape. The collaboration’s core principle revolves around Scroll’s participation in Chainlink’s SCALE initiative. 

According to Scroll’s official statement, the partnership will “help Scroll realize its vision of scaling Ethereum in an open and community-driven manner.” Moreover, it promises Ethereum’s ecosystem developers access to many reliable and cost-effective oracle services for an extended duration.

Haichen Shen, the co-founder and head of engineering at Scroll, shed light on the partnership’s objectives. He stated, “Scroll, emphasising Ethereum’s scalability and security, is the go-to for DeFi applications requiring Chainlink oracles.”

Additionally, Scroll has committed to shouldering some of Chainlink oracle nodes’ operational expenses to cement this alliance. Consequently, this financial backing will pave the way for the network’s expansion. It will usher in a broader range of oracle services and a diverse array of Data Feeds.

Johann Eid, Chainlink Labs’ Chief Business Officer, expressed optimism about the collaboration. He emphasised, “This partnership aligns the Chainlink and Scroll ecosystems. It champions developer innovation and propels the development of applications crucial for the sustained growth of the Scroll ecosystem.”

Chainlink’s SCALE program has already garnered attention in the industry. It offers L1s and L2s unparalleled access to top-notch oracle services. Significantly, this initiative aims to minimize overhead for Chainlink’s oracle nodes. In doing so, it strengthens the entire Scroll ecosystem.

The announcement further highlighted the benefits of Scroll’s involvement in SCALE. The report stated, “Scroll’s active participation in SCALE ensures its ecosystem thrives. It provides its developers with seamless access to elite oracle data and services. Besides, it cuts down the gas expenses Chainlink nodes bear when presenting oracle reports on Scroll.”

Scroll Foundation and Chainlink Labs partnership is poised to bring transformative changes. By combining their strengths, both entities are set to offer unparalleled services to Ethereum’s developers. As the DApp ecosystem matures, collaborations like these are pivotal in steering its direction toward growth and innovation.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decision.

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