The Currency Analytics
By Maheen Hernandez
Chainlink (LINK) The Redefining Oracle
Chainlink oracles are now used to facilitate verifiable credential data for DeFi applications.
ChainLink tweeted: “#DeFi blockchain @Hdao_Official is integrating Chainlink's trusted oracles and high-quality data.
HyperDAO is now integrating Chainlink as their Standard Oracle Solution to power its DeFi platform.
Chainlink has a robust set of features, and they place great emphasis on security. This has made HyperDAO choose the oracle and further recommend it to developers.
HyperDAO benefits from a steady stream of data that is accurate and reliable for use in a decentralized manner.
Sydney Ifergan, the crypto expert, tweeted: "ChainLink (LINK) Oracles are becoming the go place for DeFi systems looking at verifiable and accurate data."
MonteCarloDEX, Decentralized derivatives trading platform are using the Chainlink's ETH/USD Reference Contract as the index oracle for their ETH/PERP Perpetual Contract.
Paraswap, a DEX aggregator are as well using the Chainlink’s Price Reference Contracts to provide for accurate and timely price feeds for #ETH and ERC-20 tokens.
The Chainlink use cases are attracting several investors providing for itself a perpetual bullish cycle.
Sergey Nazarov, the CEO of Chainlink, had previously spoken about the product road map, and they are very clear about where they are heading to.
They are doing a great job in solving the issue of pricing data manipulation, which is very important in the DeFi sector.
The accuracy of data provided by the oracle is re-defining the quality of expectation around smart contracts.
The current economic crisis does not seem to have affected the LINK price, considering the positive momentum exhibited in the price charts.