In a press release issued on July 12, 2023, MarketAcross, a Web3 public relations firm that builds content marketing strategies for blockchain startups, has announced a channel partnership with Chainlink Labs, the organization behind the development of Chainlink.
A channel partnership is a collaboration typically formed between a producer and a distributor that leverages the strengths of both parties to expand market reach and enhance customer satisfaction.
Regarding MarketAccess and Chainlink’s channel partnership, this collaboration aims to support startups in Chainlink’s accelerator initiative, Chainlink BUILD, by addressing their unique marketing needs with tailored MarketAccess branding, SEO, PR, and outreach solutions.
The Chainlink BUILD program provides resources to startups, allowing them to scale. Membership in this program grants startups access to development protocols, engineering experts, and liquidity through Chainlink stakers.
Members can access Chainlink services in alpha and beta before going live. Furthermore, startups in the Chainlink BUILD program are provided monitoring services to gauge Decentralized Oracle Network (DON) performance.
MarketAccess has been a “one-stop shop for content marketing” for blockchain projects and companies since 2014. The team at MarketAccess is well-positioned to generate quality marketing campaigns for BUILD program members.
“We’re excited to partner with Chainlink Labs to help support Chainlink BUILD members with high-quality content marketing services. By supporting early-stage Web3 projects in getting their name out, we’re able to help advance the growth and adoption of cutting-edge Web3 applications.” –Elad Mor, MarketAccess CEO
Chainlink and Decentralized Oracle Networks Explained
Chainlink is a blockchain service provider that bridges Web2 and Web3 by combining on-chain and off-chain insights through hybrid smart contract functionality. Hybrid smart contracts run on DONs and can execute on-chain actions informed by off-chain data.
DONs are made up of oracle nodes that, along with performing typical blockchain node responsibilities—including reaching consensus, executing user transactions, and data availability—are capable of bridging the blockchain to the outside world.
Oracle nodes communicate with regular internet web servers to extract off-chain data and provide it to the hybrid smart contracts for on-chain execution.
DONs operate through two main components, executables and adapters. Executables are decentralized programs that run autonomously on-chain to compute transactions and carry out deterministic operations, which are command functions that result in the same output every time.
Adapters fetch off-chain data and encrypt it when transmitting it on-chain to ensure that the data remains confidential and only accessible to authorized parties. Adapters provide executables with the encrypted data they need to perform deterministic functions within the DON. Hybrid smart contracts are executables, and oracle nodes are adapters.
Chainlink is bridging the gap between Web2 and Web3. Chainlink combines on-chain and off-chain data through hybrid smart contract functionality to enable informed on-chain actions.
The backbone of Chainlink is DONs, which consist of oracle nodes (adapters) responsible for extracting off-chain data and providing it to the hybrid smart contracts (executables) to perform deterministic operations and ensure the confidentiality of data.
In conclusion, the channel partnership between MarketAcross and Chainlink Labs represents a significant collaboration to support startups in the Chainlink BUILD program.
By joining forces, MarketAcross and Chainlink Labs are bringing together their expertise to empower the growth of Web3 applications and advance the adoption of blockchain technology. As Web3 continues to evolve, collaborations like this will play a crucial role in fostering innovation and driving the industry forward.