KuCoin Community Chain (KCC) is a high-performance layer-one blockchain designed to provide KuCoin’s famous community and the exchange’s KCS token with a faster, more convenient and low-cost blockchain experience, solving problems such as low performance and high cost of other public chains.
Witnet is a decentralized oracle protocol that focuses on providing reliable data to “autonomous” smart contracts — those that require a high degree of tamper resistance and should not leave space for manipulation. Witnet can power most decentralized finance (DeFi) primitives, such as price feeds, stablecoins and synthetics, as well as acting as a reliable source of randomness for creating uniqueness in nonfungible tokens (NFT).
The Witnet decentralized network of oracle nodes will immediately start to provide data to smart contracts trustlessly on KCC in an accurate, transparent and censorship-resistant way.
The integration, which is already live on the KCC testnet and will go live on the mainnet in the coming days, makes all the components in the Witnet oracle suite available to every KCC developer, including:
Public price feeds (KCS/USDT) that are completely free to read from.
- The Witnet Random Number Generator, which is an efficient and secure way to source randomness and uniqueness into NFT and gaming use cases.
- The Witnet Request Board, which enables KCC developers to benefit from Witnet’s internal filtering and aggregation capabilities to have external data securely retrieved and attested from multiple data sources at once, thus reducing reliance on specific data providers and eliminating any single point of failure.
The availability of these oracle solutions is a key milestone for the broader adoption of KCC, as it will open the door to more sophisticated and reliable DeFi and NFT use cases.
This is only the first step in a cooperation roadmap between the Witnet and KuCoin communities that began barely one month ago but has already yielded impressive results in record time. This has only been possible thanks to the fluent communication and collaboration between the developers of both projects, which is expected to continue to be a win-win for many years to come.
As part of this long-term collaboration, a dedicated team of Witnet developers will also be working side by side with several projects in the KCC ecosystem to assist them in integrating the oracle into their contracts.
“Having a strong and supportive community is as important for a successful blockchain project as having the right tech. With the support of KuCoin and its huge community, KCC ticks all the boxes to become a leading player,” highlighted Adán SDPC from the Witnet Foundation, adding, “Witnet is delighted to be the first oracle to land in an ecosystem with so much potential and to be working side by side with the projects in it to help them build more secure, efficient and usable DApps and protocols.”
This partnership helps bring the Witnet offering of oracle technologies to a global audience and further enhances the DeFi experience on KCC.
For the Witnet Foundation, making the Witnet oracle available on multiple layer-one and layer-two chains is not only a matter of user acquisition but also a strong bet for platforms on which innovation is happening at an incredible pace because of the lesser scalability and cost concerns. Having a first-mover advantage in providing a decentralized oracle solution for the amazing builders in those thriving ecosystems will guarantee that whatever is the next big thing in crypto, Witnet will be at the forefront, playing a key role in the development and success of this Web3 revolution.
The Witnet protocol enables smart contracts to realize their true potential by giving them access to all sorts of valuable data sets and by attesting and delivering that information securely thanks to its strong cryptoeconomic guarantees.
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About KuCoin Community Chain (KCC)
Built by fans of KCS and KuCoin’s communities, KCC is a decentralized public chain with high performance. Its purpose is to solve problems such as low performance and high costs of public chains, to provide the community with a faster, more convenient and low-cost experience.