US election results to be immortalized on blockchain

US election results to be immortalized on blockchain
CONTENT

  • Wikipedia’s blockchain clone will digitize the results of the US presidential election using blockchain

  • Chainlink blockchain project was chosen as a technology partner

  • The crypto community is wondering exactly how the presidential election could affect the cryptocurrency industry

International consortium of news organizations developing transparency standards.

Blockchain clone of Wikipedia, Everipedia, will store the results of the upcoming US presidential election in a distributed ledger

US election results to be immortalized on blockchain

Associated Press (AP), one of the largest international information and news agencies, will provide the results of the US presidential election for storage on blockchain technology. This was announced by the blockchain startup Everipedia, which will be responsible for storing information in a distributed network..

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According to the official announcement, Everipedia will launch its own node using Chainlink to bring US election results via API from AP to the blockchain network. Everipedia Node Will Give Smart Contracts Access to US Election Results Backed by Cryptographic Evidence.

“With authentic data, smart contract developers will be able to create new financial products based on the results of the upcoming US presidential elections, such as prediction markets, derivatives, and the like,” the announcement says..

Everipedia CTO Travis Moore claims this is the first use of oracle as a service from Everipedia. After conducting a thorough review of the solutions, Everipedia came to the conclusion that it was Chainlink’s decentralized network of oracles that was the most suitable solution for the idea..

To the noise of elections

US election results to be immortalized on blockchain

Chainlink has been actively developing the decentralized oracle market over the past few years. In late August, the project acquired DECO, a verification protocol for oracles to verify the authenticity of sensitive data. Chainlink oracles with DECO support can now prove to a smart contract that the owner of an asset is solvent without disclosing information about private or personal property in the blockchain itself.

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Meanwhile, the cryptocurrency community is trying in every possible way to simulate the behavior of cryptocurrencies against the background of the presidential race. For example, the manager of The Capriole Fund Charles Edwards noted at the end of September that, according to historical indicators, cryptocurrencies often turn into a bullish trend precisely on the eve of elections. In 2020, according to the manager of The Capriole Fund, Bitcoin will also be able to repeat the bullish scenario..

How else the 2020 US presidential election could affect Bitcoin, find out in a special material from BeInCrypto.

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