Horizen joins hands with IOTA to grow IOTA Oracles and Zendoo

IOTA Horizen

Horizen has joined hands with IOTA, open-sourced, feeless data, and value transfer protocol. Horizen unveiled this news through a press release, noting that this partnership will see the companies expand the functionality of the newly-launched IOTA Oracles. Apart from this, they seek to integrate Oracle functionalities to Zendoo’s Horizen sidechain and scaling protocol.

According to the press release, IOTA Oracles seek to introduce decentralised applications (dApps) and smart contracts into the IOTA network. Through the oracles, the network aims to securely merge the digital and the physical worlds in a decentralised and permissionless manner. Reportedly, introducing this functionality to Zendoo will happen in two phases. The first one will be Zendoo’s incorporation of IOTA Oracles into its sidechain POC. The second one will be integrating IOTA Oracles into the Zendoo SDK.

This partnership is another significant step towards Horizen’s mission of developing the most secure, inclusive, and interoperable ecosystem.

A mutually beneficial partnership

IOTA is set to undergo a significant network upgrade dubbed Chrysalis this month. Through this upgrade, IOTA seeks to focus on connecting a variety of ecosystems with exceptional value propositions and valuable use cases. On the other hand, Zendoo SDK aims to let businesses and developers build personalized blockchains. As such, this collaboration will help in Horizen’s roadmap as it continues providing services to the blockchain industry.

According to Dominic Schiener, the co-founder of the IOTA Foundation, 

The purpose of this partnership is to leverage the expertise of one another to expand into areas that are mutually beneficial to both ecosystems.

He added that IOTA’s goal is to expand blockchain functionality into real-world applications. He went on to note that IOTA’s Oracle solution to Horizen Zendoo sidechains is the epitome of this mission. 

The post Horizen joins hands with IOTA to grow IOTA Oracles and Zendoo appeared first on Invezz.

Publication date: 
03/02/2021 - 14:40
Disclaimer

The views and opinions expressed in this article are solely those of the authors and do not reflect the views of Bitcoin Insider. Every investment and trading move involves risk - this is especially true for cryptocurrencies given their volatility. We strongly advise our readers to conduct their own research when making a decision.