Chainlink, a decentralized oracle network that provides real-time pricing data every 5 seconds, has been critical to FTM’s success. Integrating Chainlink Price Feeds is indeed a significant step forward because it offers reliable and fool-proof statistics on the FTM Predictions utilizing the industry’s most well-established oracle network.
Chainlink Price Feeds, in particular, operate directly on the Fantom mainnet, with no reliance on other blockchains, resulting in high-frequency updating at cheap costs. After evaluating several oracle options, they ended up choosing Chainlink Price Feeds because of the following critical infrastructure benefits:
Data of Excellent Quality
Chainlink Price Feeds gather data from a variety of premium data centers, resulting in price data compiled from numbers of exchanges, balanced by volume, and free of anomalies and questionable volumes. The data aggregation mechanism used by Chainlink delivers accurate worldwide market prices that are immune to API outages, data manipulation attempts such as flash loans and flash crash outliers.
Operators of Secure Nodes
Autonomous, Sybil-resistant oracle nodes managed by premier blockchain DevOps organizations, data providers, and established companies with a solid, proven history for uptime, even amid high fuel prices and significant network congestion, protect Chainlink Price Feeds.
Chainlink Price Feeds are decentralized even at the source of data, oracle node, and oracle network levels, resulting in robust defenses against data provider and oracle network downtime and tampering.
Users can objectively evaluate the previous performance of oracle networks and node operators and examine the actual prices being offered, using Chainlink’s reputation architecture and set of on-chain monitoring tools.
The standard industry oracle network for a mix of smart contracts is Chainlink. Developers can use Chainlink Decentralized Oracle Networks to improve the possibilities of smart contracts on just about any blockchain by retrieving the broadest range of high-quality data sources and secure off-chain computations. Chainlink presently secures billions of dollars in value for smart contracts across decentralized finance (DeFi), insurance, gaming, and other critical industries and is managed by a multinational, decentralized community.