Chainlink has launched its second-tier oracles on Ethereum Arbitrum One – Bits Media

Decentralized oracle provider Chainlink has announced the launch of its project in Arbitrum One - a second-tier solution for scaling Ethereum. So far only data oracles are available on Arbitrum One.

According to the press release, Now the developers are decentralized Applications based on Arbitrum One will be able to connect their smart contracts to oracles and have access to data on financial markets. This will expand the functionality of decentralized exchanges, Simplify the development of algorithmic stablecoins and other decentralized finance products on the ARBITRUM ONE network.

Already now, the developers of several large Defi projects said about the readiness to use Chainlink oracles in their products on the basis of Arbitrum One: Ghost, MCDEX, Tracer DAO and the developers of the Arbitrum solution.

“Providing access to the ChainLink Oracles network based on Arbitrum One was one of the key tasks to ensure the quick and simple transfer of smart contracts from the basic level of the Ethereum to the ARBITRUM network”, - emphasized Ed Felten (Ed the field), Offchain Labs co -founder, standing for the development of the solution of Arbitrum One.

Currently, oracles are supporting only data streams, Denominated in US dollars, However, the Chainlink team reports the imminent launch of new price flows and data on new trading couples. Also in the future, developers will launch the Verifiable Random function, simplifying creation of games and other applications. Support for the Proof of Reserve function will appear.

Recall, that the main network of Arbitrum One was launched in May, However, only certain developers gained access to it. Now there are such teams about 400. The full -fledged launch of the ARBITRUM with open access should take place already this month.