ChainLink Partners With Crypto.com to Integrate Price Feeds Into Its DeFi Wallet

  • Crypto.com has revealed that it has inked a deal that will lead to the integration of Chainlink’s price feeds with its decentralized finance (DeFi) wallet product.

On Monday, the wallet and payment card provider based in Hong Kong, stated that Chainlink’s Price Reference Data has been directly integrated with its DeFi wallet which will give its clients ready access for its price feeds.

The addition of Chainlink’s price feeds into Crypto.com’s DeFi wallet is in line with the latter’s expansion program towards booming spaces. According to Eric Anziani, Crypto.com’s chief operating officer, the partnership will add more value to its customers. Anziani explained:

“I would say with the partnership with Chainlink is kind of our first integration with a DeFi protocol, it brings value to our customers in terms of providing transparency in the prices that we’re giving them in our DeFi wallet and also making sure our ecosystem token CRO can be integrated into the external protocol by building a price feed for CRO specifically thanks to the Chainlink architecture.”

According to a press release shared with Bitcoin Exchange Guide, the firm will start with its native token in receiving the decentralized price feed, CRO/ETH but plans are underway for the addition of CRO/USD. Anziani clarified that the firm will kick off with DeFi tokens, however plans are underway to utilize Chainlink’s price feeds for the rest of the tokens within its ecosystem.

Anziani also explained that the expansion is not intended to take advantage of the current hype, but is driven by the basic belief that each person is entitled to have the control of their money, identity as well as data and the blockchain tech-based firms should lead towards this achievement.

Speaking on the recent controversy surrounding top exchanges listing the much-hyped SUSHI token, Anziani explained that his firm’s clients trust that Crypto.com has solid due diligence protocols before a new asset is listed which informed the firm’s decision not to list it.

Crypto.com rolled on its wallet at the start of this year touting it as a user friendly wallet to capitalize on the buzz around DeFi space.

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Author: Joseph Kibe

Nervos Network Integrates Chainlink’s Decentralized Oracles To Enhance Smart Contract Development

  • Nervos Network is the latest blockchain project to integrate Chainlink’s decentralized oracle system to enhance the data quality and enable more data-rich decentralized apps (DApps) to build onto the network.

In a published blog post on Medium, the Nervos Network announced its integration with Chainlink to utilize the latter’s decentralized data oracles. Chainlink provides a distributed feed of independent node operators that allow blockchains to pull data from trusted third-party data feeds.

Blockchain collect data form themselves and do not provide native access to these external data feeds. Decentralized oracles offer blockchains this access allowing them to collect data and ease the execution of smart contracts. With the integration of Chainlink, the developers on Nervos unlock a new layer tech to the platform allowing the creation of DeFi, insurance products, investment products, and gaming products, etc. Speaking on Chainlink-Nervos integration, Chainlink’s founder, Sergey Nazarov said:

“We’re excited to help integrate Chainlink’s secure and reliable oracles into Nervos […] By making off-chain data resources available on-chain, Nervos can now offer more value to both its developers and users, leading to additional use cases in DeFi, Gaming, Insurance, and more.”

Chainlink has seen rapid growth due to its reliability and secure properties in the past few months. The blockchain offers a wide range of decentralized node operators and oracle data feeds and external adapters “that can be written in any programming language to give the oracle read/write capabilities with any API.”

The co-founder of Nervos, Terry Tai, aims at a fully decentralized platform powered by fair and unbiased information from random oracle feeds. With Nervos planning to provide a platform to build executable and data-enabled smart contracts, the integration of real-world data on the blockchain is essential, Tai said,

“We’re excited to see a plethora of new products built on Nervos using real-world data and off-chain connectivity.”

Chainlink’s utility value has seen the crypto spike into all-times growing to hold 4% of the total crypto market capitalization. According to Coingecko charts, LINK is currently trading at $18.90, representing a 135% increase in the past 30 days to place 5th on the market cap listings.

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Author: Lujan Odera

Ontology Integrates Chainlink’s Decentralized Oracles To Boost DApp Development

Ontology blockchain is the latest project to integrate Chainlink’s decentralized oracles to create a credible data management system.

According to a release post on Medium Ontology blockchain, which allows cross-chain transactions, launched its integration with Chainlink. The integration is expected to enable the ONT to developers to leverage off-chain data on their decentralized applications (dApps) in real-time.

The integration with Ontology is expected to create a new data management base for the platform by integrating the “ONT ID, Ontology’s digital identity framework, and the ONTO wallet” into the dApps. To make the integration compatible, the Ontology dev team had to switch the Chainlink smart contract to its native code, Python programming language.

Blockchain is usually independent, working on data on the chain at a specific time. Hence the need for off-chain ramps such as Chainlink. The co-founder of Ontology, Andy Ji, believes the integration of Chainlink is set to enhance the scalability and robustness of its platform. He further said,

“Ontology’s high-efficiency and low transaction fees, combined with Chainlink’s adept ability to provide secure and reliable oracles consistently is a potent combination that will drive mutually beneficial outcomes for our respective platforms and communities.”

A Tried and Tested Platform.

Ji believes Chainlink is the best oracle option for the platform, given the large and warm reception it has received from some prominent industry figures and companies.

“Chainlink has demonstrated a stellar track record in providing bespoke oracle solutions to leading global enterprises including Google, Oracle, and SWIFT,” Ji said. “This experience underlines Chainlink’s credentials as the undisputed, market-leading decentralized oracle network.”

In the future, Ontology hopes to build multiple Chainlink oracles on its HydraDAo in a bid to “enable stronger data accuracy within smart contracts, cross-chain interactions, and cross-data source collaboration.”

This is not the first partnership between Ontology and Chainlink. In November 2019, Ontology developers started the process of adding simple decentralized data oracle from Chainlink onto its platform.

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Author: Cody L

Crypto Derivatives Platform, Delta Exchange, Rolls Out BNB and LINK Options Trading

  • Crypto exchange Delta has introduced options trading for the Binance Coin and Chainlink’s LINK.
  • The CEO has revealed that this was due to demand from the traders denoting that the two were the most active digital assets on their platform.

Singapore-based crypto derivatives platform Delta Exchange has now launched trading options for the Binance coin (BNB) and LINK, a brainchild of enterprise oracle solutions Chainlink. The June 19th announcement highlighted that the BNB and LINK would be corresponding to contracts they have with Tezos (XTZ), Atomic Coin (ATOM), XRP, and Litecoin (LTC).

According to the CEO, Pankaj Balani has insisted that they released the products due to demand from traders. He remarked at the popularity of the two altcoins on their exchange.

“A lot of inbound interest from traders”

The crypto derivatives platform has been offering Bitcoin and Ethereum options for a while now wrapped in lucrative contracts dubbed Move. Unlike legacy contracts that extend traders the option to acquire or trade at a specified price, the move contracts enable the traders to focus specifically on the volatility of the crypto asset.

“When trading these contracts, a trader is betting on the absolute value of the price movement of a coin rather than the coin going up or down”

This was likened by the CEO in combining the call and put options into one. This way, the amateur traders would be awarded an extra edge due to its simplicity—the Move contracts currently attracting a 0.05% transactional fee. According to the executive, the contracts have recorded at least $4 Million and $2 Million daily for the BTC and ETH move contracts, respectively.

BTC Options Popular choice for Crypto Derivative Platforms

Similarly, other crypto exchanges have jumped at the opportunity of offering options trading for an array of crypto assets with OKEX, Binance, and FTX, all unleashing parallel products. Notably, the Chicago Mercantile Exchange (CME) has experienced exponential upsurge (20x) since the introduction of the CME BTC options making up for nearly 25% of the global IO on BTC options surpassing OKEx and LedgerX markets.

With CME, bitcoin options open interest soared from $13 million to an all-time high recorded this June 10th of close to $373 million.

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Author: Lujan Odera

Digitex Futures Exchange Becomes First Centralized Platform To Integrate Chainlink’s Price Oracles

  • Bitcoin (BTC) futures exchange, Digitex, announces its planned integration of Chainlink’s decentralized oracle system on its centralized exchange.
  • The integration of Chainlink becomes the first-ever integration of its kind on a centralized crypto futures exchange.

In an official press release on Monday, May 25, 2020, Seychelles-based Bitcoin futures exchange, Digitex, announced the integration of Chainlink’s decentralized price reference oracles in a bid to improve and support its internal index to prevent slippage on the platform. Chainlink’s integration on the futures exchange makes it the first centralized exchange to harness the power of the decentralized oracles.

Open finance platforms are the main users for the decentralized oracle system using Chainlink to match prices, recently SmartPy, a blockchain firm, announced the integration of the platform on Tezos. The tamperproof and reliable Chainlink price oracles will offer a back up to the Digitex crypto index in case the prices are too volatile from the average global price.

The price oracles will first be integrated into the BTC perpetual futures against the dollar (BTCperp/USD) and add more pairs’ price feeds in the future. Speaking on the Chainlink’s integration, Digitex CEO, Adam Todd said,

“Chainlink provides Digitex with highly reliable and transparent price feeds that protect our users against the negative outcomes of abnormal market conditions or internal complications.

Using Chainlink price data enables us to deliver stronger security and performance guarantees to our users, furthering our vision to revolutionize futures trading.”

Chainlink is a blockchain-based data oracle that allows users smart contracts to securely and transparently connect to off-chain data in real-time. Recently, the internet giant, Kakao blockchain project, Klaytn, announced the integration of the decentralized oracle to sync their smart contracts with external API’s and payment systems. They also launched Verifiable Random Function (VRF) earlier in May.

Chainlink’s LINK token currently trades at $3.88, representing a slight percentage gain over the past 24 hours.

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Author: Lujan Odera

Chainlink To Launch Its First Oracles Outside Ethereum on Polkadot Blockchain

Chainlink’s oracles have become a popular solution for Ethereum based DeFi’s as blockchain innovators seek to integrate their smart contracts with external data for more information. Polkadot, another blockchain built ecosystem, announced on Feb 25th through their blog post that they will also be leveraging the Chainlink tech.

This is the first Chainlink client whose operations are not based on Ethereum blockchain. However, Parity Technologies which is in charge of developing the Polkadot network is headed by former Ethereum co-founder, Gavin Wood. Polkadot has since tweeted this milestone;

“Chainlink is set to become the first and primary oracle provider for all @ParityTech #Substrate-based chains and eventually the entire Polkadot network.”

The integration of Polkadot with Chainlink will happen once the platform goes live. For now, a feasibility test on the effectiveness of decentralized information collection points is underway. This is being done through Polkadot’s parachain launched by Chainlink on Kusama, the experimental Polkadot network.

Chainlink’s Decentralized Oracles

The data-integration firm has proven to be fundamental in crypto price consolidation given different digital currency markets operating today. Chainlink’s CEO, Sergey Nazarov, said during an interview with Coindesk that their cutting edge tech is a decentralized approach to data collection. This hedges against smart contracts failure in an event where oracles are part of the decision process; centralized oracles, on the other hand, pose a threat if the data feed is compromised.

With Chainlink’s protocol, Polkadot users will be able to access an oracle trusted market and customize the existing features for maximization within decentralized ecosystems. So far, Chainlink’s products in this area have been among the top tier making it a leader in Oracle as a service. Parity Technologies is optimistic that it will increase blockchain adoption as developers will use less time and create with more ease once Chainlink is integrated with Polkadot.

Chainlink has been hot crypto to own lately, with both market cap and price up 765% in the last 365 days and even up 33% in the last month. Down 2 spots in the last day, landing as the 15th ranked currency, it is currently trading at $3.52 according to Nomics, even with a down market.

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Author: Edwin Munyui