This will provide the Taraxa blockchain with a decentralized and trusted source of time for all informal transactional agreements, enabling Taraxa’s smart contracts to leverage real-time data feeds from sources such as NIST as a means of assigning timestamps to anchored transactions in its audit log.
How Chainlink’s Decentralized Timestamp Oracles Benefit Taraxa’s Use Cases
The Chainlink-powered decentralized timestamp oracles will verify the chain of custody for off-chain transactions and the timing of data commitments anchored into the Taraxa ledger. This is critically important since timing is often a core condition for triggering transactional agreements, such as recurring loan payments or legally-required breaches of contract notifications.
For example, Service Level Agreements (SLAs) often