- Paralink announced a partnership with Polkalokr.
- The partnership will enable Polkalokr to use Paralink’s multi-chain oracle.
Paralink announced a partnership with Polkalokr. The team said they are pleased to team up with Polkalokr. Polkalokr is a highly customizable escrow for token economics.
Of note, the partnership will enable Polkalokr to use Paralink’s multi-chain oracle. In turn, this will allow the exchange to deliver a more reliable and efficient ecosystem by using real-world data feeds.
To address the partnership, the Paralink team said,
Today, blockchain applications are limited by the range of use cases they can serve. Without real-world data, blockchains and decentralized services are unable to provide insurance, prediction markets, and other real-world applications. This can be solved by using oracles that retrieve real-world data so that it can be used in such applications.
In addition, Paralink noted that by using real-world data related to a real-time feed, blockchain apps grow their potential. Therefore, people can use them in real-world use cases and scenarios.
Furthermore, the firm said the growth of the DeFi space brings new challenges. Besides, DeFi apps are growing more complex, and there is also a lack of trust. This leads to no adoption by companies.
Also, Paralink said this is where Polkalokr will bring solutions to these problems with its multi-chain token escrow platform.
In fact, Paralink aims to bring trust and unity to an unregulated and complex space. This will happen through its all-in-one, multi-chain token locking and escrow platform with built-in data protection.
Of note, Paralink will examine and use Polkalokr’s token locking mechanics. It will also integrate its protocol into the platform to benefit from it.