The integration allows Solana’s decentralized decentralization refers to the property of a system in which nodes or actors work in concert in a distributed fashion to achieve a common goal. finance developers to use Chainlink’s price feeds within their applications.
***
- The developers of Solana will now have price data from Chainlink for seven trading pairs.
- More data for more trading pairs will be added in the coming months.
- Chainlink plans to expand the collaboration with Solana in the future.
The decentralized oracle platform a place to buy, sell and store cryptocurrency Chainlink is integrating with the blockchain a distributed ledger system. A sequence of blocks, or units of digital information, stored consecutively in a public database. The basis for cryptocurrencies. Solana to enable users of that ecosystem to access reliable pricing data in real time.
In a press release the team of Chainlink announced that its network a network refers to all nodes in the operation of a blockchain at any given moment in time. of pricing oracles an agent that finds and verifies information, bridging the real world and the blockchain by providing data to smart contracts for execution of said contracts under specified conditions. for the decentralized financial applications (DeFi) industry, namedChainlink Price Feedshas been put into operation on the main network (mainnet) of Solana . The integration will allow developers to leverage money that a trader borrows from a brokerage, enabling them to gain far greater exposure to a position than what their capital allows. reliable pricing sources for seven trading pairs.
The team of Chainlink shared the news on his Twitter oficial:
#Chainlink Price Feeds are now live on @solana mainnet!
With Chainlink oracles natively integrated on #Solana ’s high-speed #blockchain , developers now have access to the most proven oracle infrastructure for building secure and scalable #Web3 apps. https://t.co/13LPoLVdFE
— Chainlink (@chainlink) June 3, 2022
Solana integrates price data from Chainlink
Oracles are a way for a blockchain or smart contract in traditional finance, a contract is a binding agreement between two parties. In cryptocurrencies, smart contracts execute functions on the blockchain. to interact with external data. These systems, which connect data from the outside world ( off-chain a transaction that is processed outside the blockchain network with an increased speed and reduced cost. ) with the blockchain world ( on-chain transactions that are recorded on the blockchain itself and shared with all of the participants are done on-chain. ) consultan, verifican y autentifican los datos externos; en este caso: datos de precios.
Chainlink Price Feeds will offer developers of Solana price data for seven trading pairs, including BTC/USD, ETH/USD, and USDC/USD, which make it easier for developers to create higher quality decentralized applications (DApps) and DeFi protocols. . The co-founder of Solana , Anatoly Yakovenko he said about the integration:
Solana’s launch of Chainlink will give DeFi developers access to the most widely used oracles in blockchain. Solana’s high-speed blockchain can deliver high-frequency price data to dapps, allowing developers to build new Dapps and DeFi products.
While the integration comes initially for seven trading pairs, the statement says that it is expected that “ in the coming months, hundreds of additional Chainlink pricing feeds, as well as other oracle services “are available in Solana .
Sergey Nazarov, co-founder of Chainlink added that the integration represents a “breakthrough for the kind of scalable, institutional-grade DeFi a movement encouraging alternatives to traditional, centralized forms of financial services. applications. “that are built on Solana . He also anticipates that the role of the platform in Solana “ will expand as we integrate more price sources and additional services outside the chain. “.
An advantage for DeFi de Solana
As stated inCrypto Briefingin addition to the price feed, Chainlink also said that he wants to bring more of his services to Solana, including his serviceProof-of-Reserve for asset attestation, its custodians for event-driven and time-based automation, and its “Verifiable Random Function” for the supply of randomness.
Several DeFi projects native to Solana have already committed themselves to adopting the price sources of the Chainlink including performance aggregators Francium y Tulip the money market an area or arena, online or offline, in which commercial dealings are conducted. Paricot Finance and the UPFI stable currency currency is a medium of exchange that defines value. protocol. In the meantime, Chainlink has already been integrated with a wide variety of DeFi protocols from Ethereum a decentralized open-source blockchain with smart contracts functionality. and other chains, such asAave, Compound, Sushi y other.
The news comes in the same week that Alchemy the provider of node the most basic unit of blockchain infrastructure that stores data. infrastructure based on Ethereum announced its expansion to Solana . As reported byThe Block a file containing information on transactions completed during a given time period. Blocks are the constituent parts of a blockchain.the offer assumes that you now the company, which offers a Node API aPI stands for Application Programming Interface. It is a set of routines, protocols, and tools for building software applications. APIs specify how software components should interact, such as what data to use and what actions should be taken. service for applications Ethereum y Polygon , will allow developers of Solana scale your blockchain infrastructure requirements.
Growth around Solana is a sign of the progress the project is making in its plan to position itself as a major blockchain for DApps and DeFi. However, the ecosystem has seen a rocky road in recent months, as the network has been faced with several difficulties in terms of congestion and scalability.
- Solana’s Blockchain has its clock out of sync 30 minutes late
- Solana grid stops again and has about five hours without processing new blocks
- Chainlink Integration Aims to Boost DeFi Development in Avalanche
Article by Hannah Estefania Perez / DiarioBitcoin
Imagen de Unsplash
