Chainlink and Ztake logos

Let us start by congratulating ourselves since Ztake is now officially a part of the Chainlink ecosystem as a reviewed Chainlink Node Operator.

We are a team of early blockchain adopters with an extensive background in the tech space. As savvy blockchain developers, enthusiasts, and even zealots, we already took care of all the technical setup needed to run secure and reliable node operations. As of today, we are successfully operating nodes on Cosmos, Wanchain, xDai, POA and a newly added Chainlink.

a diagram of Chainlink capabilities

Smart contracts promise to revolutionize how all agreements work through an entirely new level of technologically enforced guarantees, making them a superior form of digital agreements. Chainlink’s decentralized oracle network provides the same security guarantees as smart contracts themselves. By allowing multiple Chainlinks to evaluate the same data before it becomes a trigger, we eliminate any one point of failure.

Here at Ztake, it is our belief that in the immediate future there will be a growing demand for reliable off-chain data as the enterprise adoption of the decentralized technologies grows. Oracles are necessary because blockchains cannot directly access data and events outside of their network. Decentralized oracles could help to eliminate single point of failure setups. As of now, Chainlink marketplace developed by LinkPool is already matching smart contract developers with financially incentivized parties and we are extremely excited to be a part of this great initiative along with other industry leaders (full list of whom could be found here).

There are three ways in which you could be at the forefront of the movement:

If you are a contract creator looking to leverage one of the myriads of datasets available, start by following this guide and joining the Chainlink Telegram or Discord developer’s channel for technical discussions. Our team will gladly run custom tasks for you if needed when you reach out to us at contact@ztake.org Developers can write a custom adapter to supply even more data for smart contracts using the details in the following link that explain the process. Or you can experiment with your own Ropsten node by following this guide designed for helping first-timers get acquainted with the software.

Ztake logo

We should also note that operating a mainnet node is not a trivial job and requires significant expertise in running production-based software. You will be required to set up backups, monitor the node for glitches or failures, and respond to outages in a timely manner just to name a few.

As a matter of fact, one of the challenges we encountered during the setup of the node is our $ETH balance running out, resulting in a “not-functioning” oracle contract. Luckily, our lead Ethereum expert @Roman Storm wrote a utility tool that will trigger telegram alerts when your $ETH balance hits the specified threshold value. This awesome tool and easy to follow instructions on how to set it up are available on GitHub.

In addition, Roman has also released a tool that allows you to modify the gas-price value directly in the database. This strategically results in extensive cost-savings for days when the gas price is low. You could replicate the setup by using this chainlink gas price until the above tool is publically shared on GitHub.

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Please visit Chainlink’s website to learn more about how a network of decentralized oracles works. Chainlink Virtual Hackathon is the perfect occasion to get an all-encompassing intro to the Chainlink while getting all the support you need from node operators and the team. If you are interested in custom adapter or oracle, please reach out to contact@ztake.org.