Decentralized oracle network Chainlink (LINK) officially integrates its price feed into Moonbeam (GLMR), the first active parachain on Polkadot.

In a press release, Chainlink announced the implementation of a price data source on Moonbeam. Accordingly, developers building DeFi on Moonbeam can begin to integrate quality-price indicators synthesized by the chain’s cutting-edge technology into their products.

Moonbeam founder Derek Yoo mentioned that off-chain asset price accessibility has many uses in DeFi, but it is difficult to achieve resistance to attacks and manipulation of price data. However, Moonbeam believes that the oracle blockchain can solve this problem:

“Chainlink was a top requested feature from our community, and with the integration in place, friction is further reduced for developers building DeFi and other use cases,” Yoo said.

Niki Ariyasinghe, CEO of Chainlink also expressed delight and emphasized that this integration will allow Polkadot developers to create new use cases for interconnected DeFi platforms.

Moonbeam is the latest name to cooperate with the oracle giant, after Aave, Compound, dYdX, Solana, Avalanche, and many others. Welcoming the new month with an energetic handshake with Solana, this becomes the first non-EVM network that Chainlink has set foot on. As reported last week by CoinCu, the oracle blockchain integrated Keepers and VRF to the Avalanche (AVAX) blockchain.

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

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Harold

CoinCu News

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Author

Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.

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Blockchain

Chainlink Integrates With Moonbeam To Provide Price Feeds For Polkadot

Decentralized oracle network Chainlink (LINK) officially integrates its price feed into Moonbeam (GLMR), the first active parachain on Polkadot.

In a press release, Chainlink announced the implementation of a price data source on Moonbeam. Accordingly, developers building DeFi on Moonbeam can begin to integrate quality-price indicators synthesized by the chain’s cutting-edge technology into their products.

#Chainlink Price Feeds are live on @MoonbeamNetwork!

Developers can now combine secure, high-quality, decentralized market data with Moonbeam’s interoperability features to create novel #multichain DeFi applications.https://t.co/8kYlFOD23q

— Chainlink (@chainlink) June 15, 2022

Moonbeam founder Derek Yoo mentioned that off-chain asset price accessibility has many uses in DeFi, but it is difficult to achieve resistance to attacks and manipulation of price data. However, Moonbeam believes that the oracle blockchain can solve this problem:

“Chainlink was a top requested feature from our community, and with the integration in place, friction is further reduced for developers building DeFi and other use cases,” Yoo said.

Niki Ariyasinghe, CEO of Chainlink also expressed delight and emphasized that this integration will allow Polkadot developers to create new use cases for interconnected DeFi platforms.

Moonbeam is the latest name to cooperate with the oracle giant, after Aave, Compound, dYdX, Solana, Avalanche, and many others. Welcoming the new month with an energetic handshake with Solana, this becomes the first non-EVM network that Chainlink has set foot on. As reported last week by CoinCu, the oracle blockchain integrated Keepers and VRF to the Avalanche (AVAX) blockchain.

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

Harold

CoinCu News

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