PocketPay is Integrating Chainlink Price Feeds for High-Quality Price Data
We’re excited to announce that PocketPay, a cutting-edge Solana mobile wallet supercharged by SolanaPay to feature eCommerce functionality, is integrating Chainlink Price Feeds on Solana. By integrating the industry-leading decentralized oracle network, PocketPay will be able to access high-quality price feeds for SOL and Solana’s SPL tokens at high speed, enabling us to provide our users with enhanced pricing accuracy.
We chose Chainlink because it is the most widely used and time-tested decentralized oracle network in the blockchain ecosystem. The Chainlink Network maintains superior security and availability even in the face of unexpected events such as exchange downtime, flash crashes, and data manipulation attacks via flash loans. Offering a wide range of off-chain data and computation services, Chainlink already helps secure tens of billions of dollars in smart contract value for leading DeFi protocols.
PocketPay is a non-custodial smart mobile wallet that lets users access the world of DeFi and dApps directly on the fast and reliable Solana blockchain. With the native ability to store Solana-based assets/SPL tokens, Pocketpay makes transacting smooth, secure, and painless. Currently, the mobile wallet is available on Android and iOS devices, with web and browser extensions in development.
In order to provide accurate asset prices on PocketPay, we needed access to a secure and fast oracle solution. Volume-weighted price data aggregated from a multitude of high-quality sources gives users high assurances that they are operating off of fair-market prices when making important decisions on transactions.
After extensively researching the options available, we ultimately chose to use Chainlink Price Feeds because of their superior features in security, reliability, and decentralization. Specific benefits that stood out include:
● High-Quality Data — Chainlink Price Feeds source data from numerous premium data aggregators, leading to price data that’s aggregated from hundreds of exchanges, weighted by volume, and cleaned from outliers and suspicious volumes. Chainlink’s data aggregation model generates more precise global market prices that are resistant to API downtime, flash crash outliers, and data manipulation attacks like flash loans.
● Secure Node Operators — Chainlink Price Feeds are secured by independent, security-reviewed, and Sybil-resistant oracle nodes run by leading blockchain DevOps teams, data providers, and traditional enterprises with a strong track record for reliability, even during high gas prices and extreme network congestion.
● Decentralized Network — Chainlink Price Feeds are decentralized at the data source, oracle node, and oracle network levels, generating strong protections against downtime and tampering by either the data provider or the oracle network.
● Transparency — Chainlink provides a robust reputation framework and set of on-chain monitoring tools that allow users to independently verify the historical performance of node operators and oracle networks, as well as check the real-time prices being offered.
“By natively integrating Chainlink Price Feeds into the PocketPay wallet, we’re giving our users access to accurate price feeds regarding SOL and SPL tokens. Portfolio tracking is an important feature of wallets, and by using aggregated market data from Chainlink, users will have access to the most accurate prices on the market — setting up PocketPay as a premium wallet offering on Solana.”
— Yogesh Trivedi, CEO of PocketPay Finance.
Chainlink is the industry standard for building, accessing, and selling oracle services needed to power hybrid smart contracts on any blockchain. Chainlink oracle networks provide smart contracts with a way to reliably connect to any external API and leverage secure off-chain computations for enabling feature-rich applications. Chainlink currently secures tens of billions of dollars across DeFi, insurance, gaming, and other major industries, and offers global enterprises and leading data providers a universal gateway to all blockchains.
About PocketPay Finance
PocketPay is a mobile wallet built on Solana Blockchain and completely integrated with SolanaPay payment solutions. User can transact SOL, USDC and all SPL token, store NFTs, explore the world of DAPPS and use SolanaPay to make real-time payments offline and online.
By adding DeFi features to PocketPay wallets, such as Swapping, NFT Collectibles, NFT Marketplace, DAPPs, and news sections, PocketPay is expected to thrive.
In addition to that, the eCommerce startup launch program is a new initiative from PocketPay that will assist Startups and individuals with great products in launching them on EasyPay Startups Launchpad.
PocketPay aims to integrate eCommerce abilities in the wallet itself to provide offline and online vendors the power to sell their merchandise utilizing the EasyPay section of the wallet. PocketPay will empower startups to launch their products on Pocket Launch, where PocketPay will help startups to convert into a brand. Our integration with SolanaPay will help users to quickly make payments for their purchases.