In Brief:
- For years, chainlink Price Feeds has consisted of sub-second data providers like Coin Metrics, NCFX, Tiingo, dxFeed, and others.
- Developers able to make use of decentralized price feeds on Solana
- Solana supporting upto 65000 transactions per second and per-transaction fees of less a penny
Chainlink, an oracle network for powering smart contracts, has now integrated with Solana, a high-performance decentralized blockchain. According to the announcement, integration allows the Chainlink Price Feeds oracle system for decentralized finance to run live on Solana Devnet. The Chainlink team intends to ship the mainnet integration before the end of Q4.
According to Chainlink, the integration results from many months of close collaboration between Solana Labs and the Chainlink team. Now, Solana developers can leverage Chainlink Price Feeds for high-quality, highly decentralized, and fast-updating price reference data. For years, chainlink Price Feeds has consisted of sub-second data providers like Coin Metrics, NCFX, Tiingo, dxFeed, and others. The price feeds cover both crypto and traditional assets available for the public.
Solana is supporting upto 65000 transactions per second and per-transaction fees of less than a penny. This price feed allows DeFi app development that competes with CeFi trade execution and risk management quality. Chainlink now gives speeds on-chain without compromising on quality or security, thanks to native integration with Solana.
“Integrating Chainlink natively into the Solana blockchain can significantly increase the rate at which Solana developers can build secure, high-throughput DeFi applications by providing them with direct access to reliable off-chain data and computation,” said Anatoly Yakovenko, Founder and CEO of Solana Labs. “The combination of high-quality oracle infrastructure and solana’s high-speed blockchain network can enable DeFi applications to scalable to a global level.”
Securing 10s of billions of dollars across DeFi ecosystem, Price Feeds leverage a network of nodes that source data from various data sources. Instead, developers can focus solely on their business logic and bring next-generation applications to Solana ecosystem users.
Also Read: Chainlink Price Feeds Are Now Live on The Avalanche Mainnet
“With Chainlink Price Feeds providing sub-second updates on the Solana blockchain, smart contract developers will have the proven oracle infrastructure they need to build high-speed and tamper-proof DeFi applications,” stated Sergey Nazarov, Co-founder of Chainlink. “We are excited to be supporting the growth of the Solana ecosystem through oracle networks that provide end-to-end decentralization, data accuracy and a wide range of secure off-chain services.”
Chainlink Price Feeds offers low-latency updates with relevant aggregated prices using a robust framework for source aggregation and decentralized computation. The combinations of those two technologies will power decentralized finance into the future.
