Avalanche is utilizing Chainlink’s prestigious price and data oracles to facilitate the development of new decentralized finance applications and the transition of traditional financial assets onto the Avalanche network.
We prioritize making it as easy as possible for developers to create on the Avalanche network without any restrictions, which involves integrating with secure, dependable, and trustworthy technology.
By integrating Chainlink’s oracles into the Avalanche contract chain–an efficient version of the Ethereum Virtual Machine–developers will be able to use the same tooling that has been driving DeFi’s growth, such as MetaMask, Web3.js, Remix, Truffle Suite and Embark Platform. This will allow web3 developers to access real-time pricing data within their decentralized applications.
Chainlink is a decentralized oracle system that allows smart contracts to access data from external sources, web APIs, and banking transactions with dependable security. It has gained recognition for providing reliable oracles to big companies such as Google, Oracle, and SWIFT and many leading smart contract development teams.
Chainlink’s Price Reference Data is a group of decentralized oracle systems that guard more than 30+ DeFi price feeds for various asset classes, like cryptos, fiat currencies, commodities, indices, and beyond. These are actively utilized by many premier smart contract development teams and backed up by a large pool of Sybil resistant node operators which source data from top-tier data aggregators such as BraveNewCoin.
Avalanche is a versatile, expansive environment that facilitates the launching of decentralized finance applications and enterprise blockchain implementations that are interoperable.
Avalanche allows developers to craft powerful, dependable, and safe applications and blockchain networks with intricate regulations or develop on existing private or public subnets. Avalanche gives them full authority over both the network and application layers — enabling them to make whatever they desire.
Chainlink integration expands the range of tools accessible to Avalanche users, enabling such activities as liquidation triggering, derivative formation and strike price calculation, along with many other potential applications. It facilitates the importation of traditional assets to their platform through tokenized versions that are linked to real-world data sources. Chainlink’s Price Reference Data oracles and rapid-launch framework for new ones can save Avalanche developers lots of development time when constructing DeFi solutions.
We are thrilled to introduce Chainlink into the Avalanche system and look forward to the emergence of new Decentralized Finance (DeFi) assets. We anticipate a set of data-driven financial instruments that can achieve the same level of caliber as traditional finance but with additional advantages such as security and dependability, derived from blockchain technology.
We will keep you informed on the progress of the integration as we get ready for our mainnet launch in the upcoming weeks.
