Avalanche integrates Chainlink network of decentralized oracles – Bits Media

Avalanche Blockchain Developers Added Support For Chainlink Decentralized Oracles To Develop An Ecosystem Of DeFi Projects On The Network.

According to the statement
Avalanche developers, Chainlink oracles have been successfully integrated in the mainnet. According to Ava Labs President John Woo (John Wu), Adding chainlink data channels to Avalanche contributes to the development of the Defi ecosystem on the blockchain.

Smart contracts, Using external data, eg, Price flows, support the growing economy of Defi - they are used by lending applications, Decentralized exchanges and other protocols.

Ava Labs launched
The main network Avalanche in September 2020 of the year. The project intends to surpass Ethereum 2.0 due to higher bandwidth and a short period of time, which is necessary for nodes to confirm the reality of transactions.

“Now Avalanche blockchain is working 225 projects. Many of them are still at the stage of integration, Their developers are waiting for activation of various functionality, eg, Oracle from Chainlink », – John said. “Some large stablecoins also plan to support blockchain. That's why we are so excited ".

In May, the technical director of Tether Paolo Ardoino (Paolo Ardoino) reported, that the company plans to launch the USDT stablecoin on the Avalanche blockchain. According to the co -founder of Chainlink Sergey Nazarov, Historically, Defi and decentralized oracles appeared at about the same time.

"This is not a coincidence", – said Nazarov. “Defi applications cannot work without external data. Defi protocols use "hybrid smart contracts", which combine the intra -net code and system outside the network ".

ChainLink decentralized network network - Service set, which provide crypto assets and other data flows for the operation of various applications on the blockchain.

In the spring, the developers of the Filecoin data storage project also integrated
ChainLink's decentralized network network to establish communication with the Ethereum and other blockchains with support for smart contracts.