Hedera has made Chainlink data feeds and Chainlink proof of reserve available on its network. This is good news for Hedera developers, as it allows them to access reliable, tamper-proof data needed to build secure decentralized finance (DeFi) applications and tokenized real-world assets (RWA).
Additionally, the HBAR Foundation has joined Chainlink Scale, helping developers gain greater access to Chainlink’s powerful Oracle services.
According to the Hedera blog, the integration also allows Hedera Network developers to easily access accurate off-chain data, allowing them to build enhanced on-chain applications.
Chainlink’s data feeds collect data from major data providers and exchanges, ensuring that the market prices used in applications on Hedera are both accurate and fair. Data feeds are also essential for providing reliable, real-time financial market data for Hedera, a necessary component for building secure DeFi applications and stable tokenized assets.
Elaine Song, Vice President of Strategy at the HBAR Foundation, explained: “By making the Chainlink standard available to our developer ecosystem, we can enable increased access to high-quality, tamper-proof data backed by infrastructure decentralized. »
One nice feature is aggregating high-quality data from hundreds of exchanges and cleaning it to remove outliers so prices are as accurate as possible.
Additionally, this data is secured through decentralized Oracle nodes managed by trusted teams, ensuring information is reliable even during times of network disruption or high network traffic. Chainlink uses a fully decentralized network that protects against any single point of failure.
During this time, both platforms saw massive growth in their native token. This month alone, LINK has gained over 108% while HBAR has seen a healthy 231%. LINK’s rise came last week after the project backed by pre-elect President Donald Trump, World Liberty Financial Initiative WLFI, purchased more than 40,000 LINK tokens for $1 million.
Currently, Link is trading at $29.55 after hitting a new ATH of $30.70 earlier today. Its trading volume increased by over 37% to $2.09 in a single day. However, HBAR is currently down 2% at $0.28 after hitting its daily high of $0.29, but it saw massive trading volume recorded at $826 million, a 44% increase today. ‘today.
Also read: Aave contributor suggests leaving Polygon via ‘risky’ bridge
