Solana will become the first non-EVM blockchain after integrating Chainlink for DeFi development
Chainlink’s Price Feed is officially live on Solana’s network, making it the first non-EVM network this oracle offers.
Chainlink is integrated on mainnet Solana
Blockchain oracle platform Chainlink has announced the launch of its price feed on the Solana blockchain. The integration allows decentralized finance (DeFi) developers to use the feed-in in their decentralized applications (DApps).
Previously, many applications such as Aave, Compound, or dYdX used data from this blockchain oracle platform. However, these are applications on the network compatible with the Ethereum Virtual Machine (EVM). It is known that after this update, Solana is the first non-EVM blockchain to use the price data service from Chainlink.
Solana co-founder Anatoly Yakovenko noted that the integration would benefit DeFi developers building on the platform.
“Solana’s infrastructure with fast transaction processing will enable price indexes to collect data at high speed, at a low cost.”
Chirag Dhull, head of product and marketing at Chainlink Labs, said
Immediately after being integrated, this platform-based projects committed to using price feeds for their products. Profit aggregators Francium and Tulip and lending protocol Apricot Finance are among those that will use them.
Chainlink is the industry standard for building, accessing, and selling oracle services needed to power hybrid smart contracts on any blockchain. Chainlink 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.
Accordingly, the platform’s price index service has yielded 2.6 million data heads for blockchain applications. In February, Bank of America also attributed the rapid increase in assets locked on DeFi transactions to the popular service from Chainlink.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Join CoinCu Telegram to keep track of news: https://t.me/coincunews
Follow CoinCu Youtube Channel | Follow CoinCu Facebook page
Foxy
Coincu News
Author
DeFi
Solana will become the first non-EVM blockchain after integrating Chainlink for DeFi development
Chainlink’s Price Feed is officially live on Solana’s network, making it the first non-EVM network this oracle offers.
Chainlink is integrated on mainnet Solana
Blockchain oracle platform Chainlink has announced the launch of its price feed on the Solana blockchain. The integration allows decentralized finance (DeFi) developers to use the feed-in in their decentralized applications (DApps).
Previously, many applications such as Aave, Compound, or dYdX used data from this blockchain oracle platform. However, these are applications on the network compatible with the Ethereum Virtual Machine (EVM). It is known that after this update, Solana is the first non-EVM blockchain to use the price data service from Chainlink.
Solana co-founder Anatoly Yakovenko noted that the integration would benefit DeFi developers building on the platform.
“Solana’s infrastructure with fast transaction processing will enable price indexes to collect data at high speed, at a low cost.”
Chirag Dhull, head of product and marketing at Chainlink Labs, said
Immediately after being integrated, this platform-based projects committed to using price feeds for their products. Profit aggregators Francium and Tulip and lending protocol Apricot Finance are among those that will use them.
Chainlink is the industry standard for building, accessing, and selling oracle services needed to power hybrid smart contracts on any blockchain. Chainlink 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.
Accordingly, the platform’s price index service has yielded 2.6 million data heads for blockchain applications. In February, Bank of America also attributed the rapid increase in assets locked on DeFi transactions to the popular service from Chainlink.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Join CoinCu Telegram to keep track of news: https://t.me/coincunews
Follow CoinCu Youtube Channel | Follow CoinCu Facebook page
Foxy
Coincu News
Other Posts
Related Posts
Latest
Singularity Finance Strikes Strategic Partnerships to Lead the AI and RWA Economy and Expand its Ecosystem
Gate.io Launches USDE Financial Products with Annualized Returns of Up to 54%, Ushering in a High-Return Era for Stablecoin Investments
Bitdeer Convertible Notes Worth $360 Million Offered for Expansion Efforts
Press Release
Singularity Finance Strikes Strategic Partnerships to Lead the AI and RWA Economy and Expand its Ecosystem
Gate.io Launches USDE Financial Products with Annualized Returns of Up to 54%, Ushering in a High-Return Era for Stablecoin Investments
