Chainlink Releases A Platform To Facilitate Web2's Integration With Smart Contracts

Blockchain data provider Chainlink has released a platform that will enable developers to connect data to smart contracts, the company said on Wednesday.

Chainlink Functions will allow any smart contract – blockchain protocols that execute the terms of a contract – to connect to any Web2 application programming interface (API).

"Until now, Web3 developers couldn’t connect their smart contracts to existing Web2 APIs to access social-media signals, AI (artificial-intelligence) computation, messaging services and more," the company said in a blog post.

The beta version of Chainlink Functions is live on the Ethereum Sepolia and Polygon Mumbai test networks, the company added. The Chainlink token (LINK) was little changed on Wednesday at $7.41.

“Chainlink technology is an ideal way to provide smart contract developers anywhere in the world with direct, on-demand access to AP’s (Associated Press) trusted economic, sports and election race call data," Michael Fabiano, head of Americas Media at the AP, told CoinDesk in a statement. "With the launch of Chainlink Functions, it will be easier than ever for AP-licensed developers to integrate AP data with innovative smart contracts and deploy new use cases across leading blockchain networks.”

Chainlink has aimed to provide products to connect the world with blockchain technology. In September, the company announced a partnership with SWIFT, an interbank messaging system, to help SWIFT make token transfers and communicate across all blockchains.

Read more: SWIFT Is Partnering With Chainlink: Here’s the Down-low on the Blockchain Data Provider