Announcing the onboarding of Chainlink Price Feeds, Solana Devnet has officially confirmed that it has adopted Chainlink’s technology to offer more reliable price feeds on its platform. This particular association will be completed before the fourth quarter of the year and signifies the fruition of months of closely collaborated efforts put in by both organizations.
As far as Solana predictions are concerned, most crypto experts are bullish on the future of the blockchain platform. And now, with the added advantage of Chainlink price feeds, Solana is expected to grow further in the times to come. The advantage of using the price feeds from the house of Chainlink is apparent. The developers on the platform will have access to real-world data that also comes with the advantages such as decentralized form and high safety credentials. All these qualities are of enormous significance to the applications of hybrid smart contracts, including the ones in the domain of decentralized finance (DeFi).
With this collaboration, users will get access to both the high-speed transaction capability of the Solana blockchain and the reliable price feeds of Chainlink. In fact, this combination will make the DeFi package a direct rival of CeFi in terms of the overall management of the risk quality and execution of trade.
Chainlink Price Feeds has already carved a place for itself in the market. The pricing system is based on thousands of professional nodes that constantly source and update data while offering the highest safety and security to its clients. The data feeds are completely tamper-proof, which means that even in case of high market volatility, the price feeds are reliable, and one can completely depend on them. One can easily estimate the credibility of Chainlink Price Feeds because it has already secured billions of dollars of value in the DeFi domain. It will be interesting to witness the value this association will bring to the table, and more importantly, the reaction of users’ towards these new capabilities.