What Does Chainlink Oracle Service Bring to multichain.storage?

FilSwan, a distributed storage cross-chain solution provider, was officially deployed on the Polygon mainnet on September 21, integrated Chainlink Price Feeds and oracles on the Polygon mainnet, and also helps operate the Chainlink Network by running a Chainlink node. This ensures more stable performance of multichain.storage for DApp developers and lets more of them join in the Chainlink ecosystem.

Why chose Chainlink as our go-to oracle solution?

multichain.storage is a smart-contract-based cross-chain storage gateway. The integration of the Chainlink oracle technology helps with the data feeds of the distributed storage fees in multiple blockchain networks. The cross-chain storage process of user data is relatively complex, involving data uploading, fund locking, and bidding for Storage Providers, and the distributed storage generally takes quite a long time (even several hours). Therefore, it is crucial to get fair and reliable price data when paying storage fees with stablecoins.

Using stablecoins to pay for storage fees is available on FilSwan’s multichain.storage. This reduces the effect of storage fee changes caused by market price fluctuations. For FilSwan, Chainlink Price Feeds is convenient to resist possible accidents and ensures the smooth operation of multichain.storage.

According to our planning, multichain.storage will be deployed on multiple public chains, such as BNB Chain, and more. And Chainlink currently supports a large variety of public chains, with strong scalability and stable functions, which can be applied to actual production environments. Therefore, we believe Chainlink Price Feeds is a very good option for FilSwan.

What does Chainlink oracle bring to multichain.storage?

By integrating the Chainlink oracle service and the Filecoin network data storage, FilSwan has launched the Filecoin-Chainlink Data Provider module, which is suitable for cross-chain proof. Through the Flink service, developers can solve the fund locking problem in the storage process and the Filecoin on-chain storage proof problem. Users can view their transaction information by using the Chainlink external adapters.

The cooperation between Chainlink and FilSwan mainly includes:

1. The FIL/USD and USDC/USD Chainlink Price Feeds for accurate and time-sensitive market data when swapping tokens for cross-chain storage, thus avoiding incorrect price data and possible losses.

Later on, based on users’ needs, multichain.storage will support paying distributed storage fees by more tokens. Chainlink is widely used in DeFi asset swaps and cross-chain swaps and is the most reliable oracle machine at present.

2. The Chainlink External Adapters can easily connect smart contracts to any API, enabling various use cases where smart contracts trigger off-chain events. It could obtain Filecoin on-chain transaction and storage information to trigger the execution of smart contracts on the Polygon chain and assist in the completion of data storage on the Filecoin chain.

3. In addition, FilSwan also helps operate the Chainlink Network by running a Chainlink node. That is to say, developers can realize hybrid smart contract functions through FilSwan’s services. We will provide more API access features to help developers reach more data and services.

After deploying the Chainlink oracle, and through long-term testing, FilSwan has publicly held two incentivized testnet events to test the combination and functions of the Chainlink oracle and the Filecoin network. Results have proved that Chainlink oracle has reached a very high level in terms of performance and stability, meeting FilSwan’s needs for reaching real-world market prices and more.

According to their above-mentioned advantages and our considerations, FilSwan chose Chainlink as the cooperative oracle for cross-chain storage on the Polygon chain.

Combine advantages of Chainlink and multichain.storage in future development

As Web3 develops, more imagination on the functions of DApps could be realized. To a certain extent, all of these depend on various resources in the network, such as image rendering in the metaverse, GameFi & NFT metadata storage, CDN acceleration for various video websites, AI computing resources, and more. FilSwan provides multichain.storage as a cross-chain application solution for Web3 storage resources. And we will work on more solutions like that for DApp developers.

In addition to Price Feeds and External Adapters, Chainlink also enable FilSwan to better integrate various network resources, thus avoiding problems like the connection of data caused by using multiple oracles on different public chains, reducing system complexity, and shortening the development cycle of functions. This enables the fast development of functions and the deployment on mainnet of public chains. And moreover, Chainlink makes it easier for FilSwan to process the cross-chain application of other types of resources.

Chainlink facilitates the expansion of functions for developers, DApps, and increases the influence of FilSwan in Web3 infrastructure construction.

10GB free storage space per month for distributed data storage!

To provide a better experience for developers and users, FilSwan currently gives 10GB of free storage space per month for multichain.storage users. With that, no storage fees and gas fees need to be paid. And in addition to storing files on the 5 nodes of the Filecoin mainnet, a backup will also be stored on IPFS, which is convenient for you to retrieve files at any time. FilSwan also welcomes developers on the Polygon chain to use the multichain.storage SDK or website for a safe distributed storage of data on DApps.

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