[ad_1]
Hedera has announced an integration with Chainlink’s decentralized data infrastructure, bringing advanced capabilities to its network. This partnership aims to advance DeFi (DeFi) applications and the adoption of tokenized real-world assets (RWAs).
Developers on Hedera now have seamless access to on-chain data needed to build secure and scalable applications.
Hedera Chainlink Data Mining
Chainlink’s data integration into Hedera provides its developers with trustworthy market data that cannot be tampered with. Chainlink’s decentralized oracle network (DON) collects and verifies data from multiple high-quality sources, ensuring accuracy and resistance to price manipulation for digital assets. This functionality is crucial for DeFi protocols, which need real-time market financial data for activities such as lending, trading, and risk management.
Data streams bring many important benefits, such as high-quality data, secure nodes, and decentralization.
Through this integration, Hedera developers can access price stream contracts for multiple asset classes, ushering in a new wave of financial applications bridging traditional and digital markets.
Chainlink Proof of Reserve adds another layer of trust and transparency to the Hedera ecosystem. This feature provides real-time reserve verification for crypto-assets, addressing critical security and accountability needs for DeFi projects. The decentralized method eliminates the vulnerabilities associated with centralized verification methods.
This capability empowers applications on Hedera to integrate transparent collateral checks, increasing user and investor confidence.
“By providing the Chainlink standard to our developer ecosystem, we can increase access to high-quality, tamper-proof data supported by a decentralized infrastructure , which is critical to building secure DeFi applications and scalable cryptoassets,” Elaine Song, Vice President of Strategy at HBAR Foundation said in a press release shared with TinTucBitcoin.
The rapid advancements of the Hedera ecosystem coincide with the growth activity of the native token HBAR. Since November, HBAR’s market value has increased nearly 500%.
The gain was partly driven by the announcement of Canary Capital’s first HBAR exchange-traded fund (ETF) filing on November 12. The ETF avoids derivatives and futures contracts, opting for Direct Token assets to optimize investor access.
General Bitcoin News
[ad_2]
