Harmony becomes the latest Blockchain to integrate Chainlink

Harmony announces that it is integrating Chainlink, a decentralized blockchain oracle provide off-chain data resources to Harmony users

By · Aug 5, 2020 . 6min read

Harmony Blockchain integrates Chainlink
Source : IStock

Harmony announces that it is integrating Chainlink, a decentralized blockchain oracle provides off-chain data resources to Harmony users such as developers thereby giving them access to price feeds and other off-chain data to use in their applications.

The layer 1 solution made this announcement in a blog post detailing this good news as well as unveiling a $7 million grant program for fintech applications building on top of Harmony and pulling data using Chainlink.

Evidently, Harmony sees the DeFi continuous growth as an opportunity and thereby makes the necessary move by integrating Chainlink. Therefore, developers and companies can easily pull off data in realtime. And all this done in a trustless manner.

Stephen Tse, the co-founder of Harmony, says:

“Increasing utility and decentralization is critical for our long-term success. This integration with Chainlink is key in that journey and we’re so excited to see developers exercise creativity to build DeFi and cross-border finance on Harmony with Chainlink. My vision is to fund hundreds of projects with our generous $7m USD Grant Program.”

Stephen Tse, co-founder Harmony

As a result of this integration, Harmony developers can now use Chainlink Price Reference Data for price feeds as regards cryptocurrencies, FX rates, commodities, indices, and more. Chainlink boasts of more than 30+ decentralized price oracles.

Developers on Harmony can also write Chainlink external adapters to easily connect to any credentialed off-chain API. This should help to obtain data from premium data providers, web APIs, enterprise systems, IoT devices, payment systems, other blockchains, and more. The applications are near limitless.

Additionally, due to Chainlink’s dominance as the go-to decentralized oracle provider, it already has over 30 security reviewed node operators. Furthermore, it boasts almost 100 community nodes.

With Harmony integrating Chainlink, the decentralized oracle provider continues to maintain its industry dominance.

Chainlink helps for trustless price feeds of off-chain data. The decentralized oracle network has been on a row lately as it continues new partnership week in week out. This has become evident in its market cap as it is now tenth place with $3.3 in market cap. Currently, it is trading around $9.50 on Coinmarketcap. In fact, this boom shows 100% of Chainlink addresses are currently in profit. Moreover, in a move to continue its role as the market leader, it just rolled out community grant for smart contract adoption.

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