Portal to partner with Chainlink to store trusted data on their Bitcoin-based DEX

Press release

Portal, a true cross-chain DEX that makes atomic transactions between Bitcoin and other digital assets fast, secure and private, has entered into a strategic partnership with Chainlink, the leading decentralized Oracle network, for access to a reliable and high quality to get price feed.

Portal will integrate the Chainlink price feed into its DEX network. The price data provided by the Chainlink Network is important as it helps ensure that users receive prices in cross-chain transactions that reflect broad market coverage.

It is also examining the possibility of integrating Chainlink’s Keepers function in a DEX for order processing and verifiable randomization functions (VRF) in a “fee marketplace for DeFi services”. Chainlink is considering running a portal-enabled node to provide constant liquidity for atomic transactions between Connection and other assets on the DEX gateway.

Chainlink Keeper enables the secure automation of smart contracts, while the Verifiable Random Function (VRF) is a service for generating random numbers that ensures that the results are random and therefore fair.

Partnering with Chainlink is a big boost for Chainlink is the best verified Oracle network in the blockchain industry. Chainlink’s pricing feeds real-world data into blockchains so that DeFi applications can trigger their smart contracts when the conditions are met. Chainlink’s Total Value Guaranteed (TVS) has grown from just $ 7 billion at the end of last year to $ 75 billion by October 2021.

Chainlink Executive Chairman Dr. Commenting on the partnership, Chandra Duggirala said, “The portal is pleased to announce that Chainlink’s pricing performance reduces friction losses and enables supporters and portal users to discover and trade with like-minded people. We are also evaluating the integration of Chainlink’s Keepers feature to help the portal client automate certain types of transactions such as order limits and stop limits. ”

Chainlink layer two and three technology simplifies the establishment of communication, censorship-resistant media and the one-click execution of cross-chain transactions on the Bitcoin blockchain. It makes it easy to execute private, off-chain “smart contracts” for asset issuance, swaps, staking, liquidity, derivatives and more, all peer-to-peer deals. without supervision or control by third parties.

About Portal

Portal is DeFi built on Bitcoin. It makes trade unstoppable with anonymous, zero-knowledge transactions via the first true cross-chain DEX that’s trust-minimized. It eliminates minting wrapped coins (i.e., wBTC, wETH) or risky staking with intermediaries. With Portal, DeFi becomes a service that anyone can provide, maintaining anonymity within open, transparent markets with a security model as robust as Bitcoin mining.

Portal’s layer two and layer three technology enables building censorship-resistant communications, media and one-click cross-chain swaps, all on Bitcoin.

For further information, visit: https://portaldefi.com/

About Chainlink

Chainlink is the industry standard for building, accessing and selling oracle services needed to power hybrid smart contracts on any blockchain. Its oracle networks provide smart contracts with a way to reliably connect to any external API and leverage secure off-chain computations for enabling feature-rich applications. Chainlink currently secures tens of billions of dollars across DeFi, insurance, gaming and other major industries, and offers global enterprises and leading data providers a universal gateway to all blockchains.

For more information, visit: https://chain.link/

Contacts

• George Burke
• press@portaldefi.com