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QuiverX to Integrate Chainlink Proof of Reserve To Power Transparent, Decentralized Crowdfunding

QuiverX to Integrate Chainlink Proof of Reserve To Power Transparent, Decentralized Crowdfunding

QuiverX Capital, Ltd. will be working exclusively with the Chainlink Network to integrate a customized Proof of Reserve oracle solution within the QuiverX Capital crowdfunding portal that provides quarterly on-chain updates of listed businesses’ off-chain earnings.

QuiverX is a decentralized crowdfunding platform where small to medium sized enterprises (SME) can raise money by offering investors tokenized equity. In order to help independent investors make sound decisions regarding early-stage funding, QuiverX plans to utilize Chainlink to provide users with transparent cash flow information within the platform about these SMEs.

Through a customized Proof of Reserve solution, Chainlink oracles will retrieve data regarding the quarterly business revenue of SMEs listed on the QuiverX platform and deliver it on-chain where it is stored in reference contracts. By doing so, QuiverX will create a transparent bookkeeping model where anyone with access to the internet can easily verify a token’s value based on its historical revenue. This is a huge leap forward in transparent startup funding.

As the world leader in blockchain oracles, already securing billions of dollars in on-chain value through its oracle solutions, Chainlink greatly expands the usefulness of smart contracts by connecting them to the real world outside the blockchain (off-chain). We believe Chainlink is exceptionally well-suited to perform such a highly specialized task for QuiverX, as their oracle solution is highly flexible and can aggregate data from any off-chain APIs.

In addition to providing access to high-quality off-chain data feeds, Chainlink is a highly secure and reliable oracle solution. Chainlink oracles networks are decentralized, removing any single point of failure in the delivery of data on-chain and thus ensuring high availability and manipulation resistanc...

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