Decentralized Price Oracles From Chainlink Now Accessible on Solana

Top 5 Potential Cryptocurrencies To Buy in July For Future Success
  • First, developers will access seven distinct Chainlink pricing feeds.
  • Developers now have additional building blocks at their disposal.

Decentralized pricing oracles from Chainlink are now accessible on Solana, letting developers obtain reliable, real-time price data for seven distinct trading pairs, with hundreds more expected in the coming months. Those working on the high-throughput blockchain now have an additional building block at their disposal.

Most Widely Used Oracles in Blockchain

In a press release on Friday, the prominent oracle supplier revealed that it had put its pricing oracle networks into operation. First, developers will access seven distinct Chainlink pricing feeds, including those for the BTC/USD, ETH/USD, and USDC/USD trading pairings, to create better-decentralized blockchain apps. 

Sergey Nazarov, the co-founder of Chainlink, made a statement on the integration:

“By providing the most reliable and highest quality data to the already lightning-fast Solana blockchain, the Chainlink integration with Solana is a major leap forward for the kind of scalable, institutional-grade, DeFi applications that can be built only on Solana. Chainlink is now the most robust and comprehensive oracle network on the Solana blockchain, and we anticipate its role in the Solana ecosystem to expand as we integrate more price feeds and additional off-chain services.”

Chainlink’s activation on the network will “give DeFi developers access to the most widely used oracles in blockchain,” according to Anatoly Yakovenko, a co-founder of Solana.

Solana-based DeFi initiatives, including yield aggregators Francium and Tulip, money market Paricot Finance, and the stablecoin protocol UPFI, have already agreed to use Chainlink’s price feeds. It also said that it plans to offer more of its services, including Proof-of-Reserve service for asset attestations, Keepers, and Verifiable Random Functions for event-driven and time-based automation, to Solana in addition to the price feeds.

A diploma graduate who is passionate about digital currency and loves writing. He loves the concept of crypto and keeps himself up to date with the latest development and news of the crypto world.