Avalanche is on a roll as the network scored quick integrations, first with RenVM and now with Chainlink. Chainlink’s reasonable price feeds live on Avalanche’s testnet, offering high-quality, precise data to developers.
The integration through Protofire, an Avalanche validator and well-known development workshop that received the Chainlink Community Grant award recently. With the integration, Chainlink’s tamper-proof data regarding foreign exchange rates, digital goods, cryptocurrencies, stablecoins, etc., will be available on Avalanche testnet.
Protofire will adapt, test, and integrate Chainlink Oracles within the Avalanche mainnet in the native form. Here is an overview of the price feeds available on the testnet:
The number will grow as per the ecosystem’s demand. Avalanche can entirely devote its faith to Chainlink Price Feeds as its oracle infrastructure is one of the most used and well-trusted ones in the industry.
The integration will save deployment time and resources for Avalanche while also minimizing data inaccuracies. Chainlink offers several DeFi solutions that Avalanche can leverage. Be it derivatives, asset handling, lending & borrowing, advanced AMMs, algorithmic stablecoins, or any other financial solution, and Chainlink offers it all.
Avalanche is an open-source platform known for launching low-cost, performant enterprise blockchain and decentralized apps deployments into a single highly scalable and interoperable ecosystem. Built on global finance, it offers quick transaction functioning and full-fledged support for ETH assets, tooling, and apps.
Merging Avalanche and Chainlink will help developers build universally connected, highly scalable decentralized finance apps that are highly secure and reliable. Chainlink uses numerous data points to gather its data in the most accurate manner. Each of its Price Feed is secured via a decentralized network of safe, independent node operators run by seasoned DevOps.
Its price Feeds use different data aggregators, allowing it to offer insights regarding CEXs and DEXs that are outlier-free, ash trading, and volume-weighted. Therefore, it provides precise data while securing users’ funds against situations like flash crashes, data manipulation, and API downtime.
As per Emin Gün Sirer (AVA Labs’ CEO), Chainlink oracles are seen as the standard-setter in the oracle field. Their off-chain computations for improving the competency of decentralized apps are impeccable. Its high output and low cost will help developers globally.
Chainlink is delighted to join hands with Avalanche, and Sergey Nazarov (Chainlink’s Co-Founder) made a statement regarding it as well. He stated that supporting Protofire was beneficial, and Chainlink is delighted to offer its support across the Avalanche network.
Avalanche Testnet is integrating Chainlink Price Feeds to offer exact data to developers. The integration will help developers globally, and both projects shared their delight in the development. Great things are expected from the partnership, and it will surely deliver on it.