The post Cardano & Chainlink Developing UTxO DeFi Oracle for Multi-Chain Expansion appeared on BitcoinEthereumNews.com.

Cardano and Chainlink partnership aims to build a versatile oracle framework not limited to a single ecosystem, potentially boosting decentralized finance capabilities. Cardano founder Charles Hoskinson emphasized that the framework must support multiple chains to ensure cost-effectiveness and broader adoption. A potential partnership between Cardano (ADA) and Chainlink (LINK) is in the pipeline. Both blockchain ecosystems are looking into how they can boost the UTxO-based decentralized finance (DeFi) space. Cardano founder Charles Hoskinson spoke about these developments in a recent interview on the David Gokhshtein podcast. Will Cardano & Chainlink Get Into A Partnership? As per Hoskinson, negotiations between Cardano and Chainlink teams are in the works to establish a DeFi oracle solution beyond a single blockchain. The project seeks to connect a wider array of UTxO-based networks, such as Bitcoin, Litecoin, and Dogecoin. “It’s bound to happen; it’s just a matter of time,” Hoskinson stated when questioned regarding the collaboration’s possibility. The aim of this partnership is to create an oracle framework that is versatile across various blockchain networks instead of being limited to one ecosystem. “What they’re working on right now is more of a universal platform,” he clarified. He also noted that the aim is to create a system that is not only for Cardano, but also for other UTxO blockchains exploring DeFi. As the world of decentralized finance expands, so too has the need for dependable oracles: those systems that deliver external data to smart contracts. Chainlink, which is already a prominent figure in the oracle world, seeks to spread its wings and gain traction in UTxO-based networks. “Obviously, Chainlink wants a foothold in this space and to attract users from these ecosystems,” Hoskinson explained. This collaboration demands careful planning to be easily incorporated. “Their framework can’t be designed just for Cardano alone,” he noted. Rather,…

---

Filed under: News - @ March 29, 2025 3:12 am