Victor Ugochukwu · Dec 14, 2020 . 5min read
Matic Network announces launch of five Chainlink price feeds
Matic Network successfully integrates Chainlink's price feeds for developers to access real-world data.
By Komal Joshi · Nov 21, 2020 . 5min read
Matic Network declared the unification of the Chainlink (LINK) oracle solution for developers. Matic Network, a smart-contract platform serving as layer two scaling solution for Ethereum, declared the full launch of five Chainlink price feeds that are prepared to power its ecosystem.
The Matic has launched USDC/USD, MATIC/USD, ETH/USD, USDT/USD, and DAI/USD price feeds into mainnet. Several more feeds will be introduced in the future as it sets its view on promoting decentralized finance (DeFi) on its network. With Price feeds, Chainlink will also be operating with Matic to launch Chainlink VRF (Verifiable Random Function). It will serve as a general-purpose oracle solution to attach to any off-chain API. It will boost the expansion of externally-connected blockchain-based applications.
Matic has collaborated with Chainlink as it provides developers access to high-quality data besides a decentralized oracle infrastructure. Chainlink’s additional advantages include Sybil-resistant oracle nodes. It also involves transparent methods where users and developers can monitor how oracle networks and individual nodes operate in real-time.
Various projects to use Chainlink’s VRF
Furthermore, projects like FarmTogether, Aavegotochi are already producing programs to execute Chainlink’s VRF into their protocol. Digital Bridge, a 2FA oracle that promotes developers to create an extra security layer into their smart contracts, is using Chainlink’s unique launch on the Matic network. Other leading DeFi projects, including AAVE and Synthetix, have also combined its Price Feeds into their protocols. They usually require secure, reliable, and ready-made oracle solutions.
Conclusively, Chainlink’s price oracles are swiftly arising as the go-to data source for DeFi protocols. The project allows developers to develop a smart contract by executing off-chain price data into their on-chain apps. A decentralized oracle network verifies it. Chainlink has created a large and vital public resource that is intriguing to various projects. Top names in the blockchain space like Matic, KyberSwap, and Aave have integrated it till today.
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