Zilliqa has made a significant stride in expanding its capabilities by integrating Chainlink pricing feeds into its mainnet and testnet. This strategic move enhances Zilliqa’s functionality by providing access to real-time, reliable data crucial for powering smart contracts and decentralized applications (dApps).
Zilliqa proudly announces that Chainlink data streams are now fully operational on its blockchain ecosystem. Chainlink’s data feeds have gained recognition in the cryptocurrency space for aggregating price information from a wide array of sources via a network of autonomous nodes. These data feeds serve as price oracles, delivering precise token pricing information from third-party sources.
Remarkably, approximately 30 percent of the Total Value Locked (TVL) in DeFi across all monitored blockchains by DeFillama is secured by Chainlink. This underscores the trust and significance placed on Chainlink’s data reliability within the DeFi sector.
One of the key advantages of integrating Chainlink pricing feeds is that it empowers developers to build more secure and feature-rich dApps on the Zilliqa platform. By incorporating Chainlink’s real-time data, developers can bring popular dApps from other Ethereum Virtual Machine (EVM) networks to Zilliqa, broadening the ecosystem and fostering innovation.
Chainlink’s Role in Bridging the Gap
Chainlink plays a pivotal role in bridging the gap between blockchain-based smart contracts and real-world data. Smart contracts, which execute autonomously based on predefined conditions, often require access to external data sources to function effectively. Chainlink acts as a reliable intermediary, known as an “oracle,” that fetches and delivers real-world data to these smart contracts.
The integration of Chainlink pricing feeds into the Zilliqa mainnet and testnet opens up a world of possibilities for developers. They can now create innovative applications that leverage real-world data and respond to fluctuating token prices within the Zilliqa ecosystem.
Developers interested in incorporating Chainlink pricing feeds into their dApps are encouraged to explore the Zilliqa Developer Portal, where a comprehensive guide awaits to assist them in harnessing the power of Chainlink’s data feeds.
Source: https://blockchainreporter.net/zilliqa-integrates-chainlink-pricing-feeds-to-enhance-blockchain-functionality/