Integrating Chainlink’s Real-Time Price Data to Power Decentralized and Institutional Finance on Avalanche

Avalanche
Avalanche
Jun 2, 2020 · 3 min read

We’re excited to announce that our efforts to build the internet of finance takes another leap forward today–thanks to our newest integration with Chainlink.

Avalanche is integrating Chainlink’s market-leading price and data oracles to empower the next generation of decentralized finance applications and the migration of traditional financial assets onto the Avalanche network.

A core design principle for us is to make it dead simple for developers to build without limits on the Avalanche network, which means integrating with best-in-class tech that is secure, reliable, and trusted.

By bringing Chainlink’s oracles into the network, Avalanche’s contract chain–a highly-scalable implementation of the Ethereum Virtual Machine–will be at parity with almost all of the key Ethereum tooling that has fueled DeFi’s growth to-date, including MetaMask, Web3.js, Remix, Truffle Suite, and Embark Platform. Web3 developers will be able to seamlessly leverage price data within their decentralized applications in real-time.

Chainlink is a decentralized oracle network that enables smart contracts to securely access off-chain data feeds, web APIs, and traditional bank payments. It is well known for providing highly secure and reliable oracles to large enterprises like Google, Oracle, and SWIFT, as well as leading smart contract development teams.

Chainlink’s Price Reference Data is a collection of decentralized oracle networks that secure over 30+ DeFi price feeds for a range of asset classes, including cryptocurrencies, fiat currencies, commodities, indices, and more. They are used in production by many leading smart contract development teams and supported by a large pool of Sybil resistant node operators that source data from premium data aggregators like BraveNewCoin.

Avalanche is an open-source platform for launching decentralized finance applications and enterprise blockchain deployments in one interoperable, highly scalable ecosystem.

Developers who build on Avalanche can easily create powerful, reliable, and secure applications and custom blockchain networks with complex rulesets or build on existing private or public subnets. Avalanche gives you complete control on both the network and application layers — helping you build anything you can imagine.

Integrating with Chainlink significantly expands the toolkit available to them, as it will allow for the triggering of liquidations, creation of derivatives, and calculation of strike prices, among a wide variety of other use cases. It allows Avalanche to start onboarding traditional assets to the Avalanche platform via tokenized assets pegged to real-world data feeds. With Chainlink’s price oracles available through its Price Reference Data and a proven framework for quickly launching new ones, Avalanche developers can cut down significant development time when building DeFi applications.

We’re excited to incorporate Chainlink into the Avalanche platform and are eager to see the next generation of DeFi assets brought to life. We envision a new suite of data-driven financial products that can finally match the performance quality in traditional finance while having the added value of security and reliability brought about through blockchain technology.

We’ll have more updates on the integration in the weeks to come as we prepare for our mainnet launch.

About Chainlink

If you’re a developer and want to connect your smart contract to existing data and infrastructure outside the underlying blockchain, reach out to Chainlink here. They can help you quickly and securely launch your data-enabled application or Chainlink Price Reference Data Contract on mainnet today. You can also visit the developer documentation or join the technical discussion on Discord. Learn more by visiting the Chainlink website or following them on Twitter or Reddit.

About Avalanche:

Avalanche is an open-source platform for launching decentralized finance applications and enterprise blockchain deployments in one interoperable, highly scalable ecosystem. Developers who build on Avalanche can easily create powerful, reliable, and secure applications and custom blockchain networks with complex rulesets or build on existing private or public subnets.

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Avalanche is the fastest smart contracts platform in the blockchain industry, as measured by time-to-finality. Don’t believe it? Try an app on Avalanche today.

Avalanche

Avalanche is the fastest smart contracts platform in the blockchain industry, as measured by time-to-finality, and has the most validators securing its activity of any proof-of-stake protocol.