Connexun Will Launch a Chainlink Node to Bring Curated News Event Data to Blockchain
Connexun is pleased to announce that it will be making premium news data accessible to blockchain applications (called smart contracts) by launching its own Chainlink node. Chainlink is a secure blockchain middleware that enables existing APIs to become compatible with blockchain networks. Through the Connexun Chainlink node, we can broadcast our API data onto leading blockchains and sell it directly to smart contract applications, as well as cryptographically sign our data to prove it originated from our API. This extends our data into emerging blockchain-based markets and enhances the reliability of our data when used to automate financial transactions.
Smart contract developers will be able to call our Chainlink node to receive machine-readable news in distinct languages about important current events, such as political election outcomes, passage of significant laws, major business events, retrieve news data about a specific firm, figure or topic and more. We are also developing a crypto news API that aggregates data sources, performs real-time sentiment analysis, and generates data source rankings. Our data can be used by developers to create a variety of data-driven smart contract applications on blockchains, such as parametric insurance triggered by major world events, prediction markets settled by election results and topic research, dynamic NFTs minted when special events happen, and trading strategies executed upon up-to-date crypto and financial market sentiment.
Connexun is an AI news engine that turns unstructured news content into multi-purpose actionable data, leveraging the power of machine learning and natural language processing to analyze large datasets of aggregated content. Through Connexun, users can receive real-time multilingual headlines, articles, and dynamic summaries extracted from tens of thousands of trusted online news outlets from distinct countries. Connexun’s News API enriches news articles with over 20 structured data points, including keywords, hashtags, locations, and sentiment analysis. Our Text Analysis API summarizes news articles, detects their language, tracks the semantic space of world news using a geoparser, and rates texts as positive, negative, or neutral via a sentiment evaluation tool.
As more smart contract applications come into being, we recognized an opportunity to expand access to our data into blockchain-based markets, such as to settle prediction markets, trigger portfolio readjustments, automate parametric insurance products, generate dynamic NFTs, and more. In doing so, we realized that supplying data into blockchain environments required the use of an oracle, particularly because blockchains have no built-in capabilities to call external APIs. The oracle is an external piece of infrastructure that formats data into a blockchain readable format, validates the integrity of data via cryptographic signatures, and broadcasts external data directly onto blockchains.
After reviewing various oracle solutions, we quickly identified Chainlink as the industry’s most time-tested and widely adopted oracle solution. Chainlink already secures billions of dollars of value for smart contract applications and is utilized by traditional data providers across many verticals to sell data on blockchains. Some of the unique benefits of launching a Chainlink node include:
- Data Integrity — Our Chainlink node will cryptographically sign all data we supply on-chain to verify its origin, preventing man-in-the-middle attacks.
- Blockchain Agnostic — Our Chainlink node is compatible with any blockchain environment, serving as a single gateway to sell data to any current or future blockchain.
- Widely Adopted — Chainlink is the most widely used oracle network in the blockchain industry, providing access to a vast addressable market of potential data consumers.
- Provably Secure — Chainlink is thoroughly audited open-source software that already secures billions of dollars in value, showcasing its ability to trigger the automation of high-value smart contacts live in production.
We look forward to leveraging Chainlink’s capabilities to bring our unique and well curated data sets onto blockchains so developers can build innovative smart contract applications based around current real-world events and analysis.
“Our Chainlink node will provide us with a future-proof middleware for quickly extending our existing API infrastructure into blockchain-based markets, opening up new revenue streams for Connexun while making new applications possible for smart contract developers,” stated Nikhil Aggarwal, Co-Founder of Connexun. “Real world events are key to proper decision making, which makes our data important to developers wanting to automate transactions on the blockchain based on current happenings and sentiment analysis.”
Chainlink is the industry standard oracle network for powering hybrid smart contracts. Chainlink Decentralized Oracle Networks provide developers with the largest collection of high-quality data sources and secure off-chain computations to expand the capabilities of smart contracts on any blockchain. Managed by a global, decentralized community, Chainlink currently secures billions of dollars in value for smart contracts across decentralized finance (DeFi), insurance, gaming, and other major industries.
Chainlink is trusted by hundreds of organizations, from global enterprises to projects at the forefront of the blockchain economy, to deliver definitive truth via secure, reliable oracle networks. To learn more about Chainlink, visit chain.link, subscribe to the Chainlink newsletter, and follow @chainlink on Twitter. To understand the full vision of the Chainlink Network, read the Chainlink 2.0 whitepaper.
Connexun crawls news content published by over 20.000 highly trusted sources worldwide, scraping and subsequently aggregating hundreds of thousands of news articles on a daily basis. Its news engine is the first to pick up on emerging stories, ensuring a real-time view into major world events. It employs artificial intelligence to monitor, understand and extract content regarding topical events. It enables insurance, financial firms and other players to enrich web data sets, understand performance trends with a new instrument and apply structured web data to predictive analytics and risk modelling.
Gain comprehensive coverage and stay on top of all news stories and important web mentions. Keep track and retrieve news regarding a specific topic. Make use of sentiment analysis to generate forecasts and enriched financial and insurance models. To learn more about Connexun, subscribe to our medium blog, follow us on Linkedin, Twitter, Facebook, and visit our demos.