Home Coins Ethereum (ETH) Matic becomes the first outside Ethereum to launch native Chainlink feeds

Matic becomes the first outside Ethereum to launch native Chainlink feeds

Matic Network, a smart-contract platform acting as both a layer one and layer two for Ethereum, announced on Thursday the full launch of five Chainlink price feeds that are set to power its ecosystem.

Though there are many promised or existing Chainlink integrations outside of Ethereum, the majority of them are still in development or are indirectly using Ethereum feeds.

Matic now features five price feeds: MATIC/USD, USDC/USD, ETH/USD, USDT/USD and DAI/USD, promising that more will come later.

Chainlink’s Verifiable Randomness Function is set to be integrated soon as well, which would allow Matic app developers to build provably fair chance games or other integrations.

The team said that the integration will be crucial for decentralized finance developers wishing to build on Matic, pointing to several projects, such as EasyFi and PlotX, that already committed to using Chainlink oracles.

The race for layer-two scaling to power the next cycle of DeFi adoption often sees Rollup-based projects as the favorites. Sandeep Nailwal, co-founder of Matic Network, told Cointelegraph that Matic’s hybrid approach is already generating interest, despite many being critical of Plasma as a solution for smart-contract scaling:

“The viability of Plasma for DeFi is a hotly debated topic but there is no other Plasma implementation in production apart from Matic. And turns out that in production it works fine and has not encountered any issues after 4+ months of launch of mainnet.”

He argued that the flexibility of Matic, letting developers choose between Plasma and proof-of-stake, can entice different types of developers. “Many apps like Games, VR spaces use pure POS while some DeFi and prediction markets choose Plasma,” he added.

Like other layer-two solutions, Matic supports Ethereum tooling and allows developers to “simply pick up their Ethereum smart contracts and deploy it on Matic sidechains within a matter of minutes,” Nailwal said.

While Matic has been somewhat left out of mainstream comparisons, direct support from Chainlink can strongly contribute to further adoption. “We believe Chainlink’s decision to build on Matic was rationalized on the basis of where the greatest demand for its services lies,” Nailwal continued.

The number of prediction markets building on the platform, which have a particularly pronounced need for reliable price information, likely contributed to the decision to integrate Matic, he concluded.

Source link

- Advertisement -
Mr Bitcointe
Mr Bitcointehttps://www.bitcointe.com/
“Fact You Need To Know About Cryptocurrency - The first Bitcoin purchase was for pizza.” ― Mohsin Jameel
473FansLike
76FollowersFollow
4,567FollowersFollow
5,261FollowersFollow
1,550FollowersFollow
2,230SubscribersSubscribe
USD - United States Dollar
EUR
1.18
GBP
1.33
CHF
1.10
NOK
0.11
JPY
0.01
CAD
0.77
AUD
0.73

Most Popular

Aquaculture Firm Completes Australia’s First IPO Raise Using Cryptocurrency

Australia-based West Coast Aquaculture (WCA) has completed an A$5 million (US$3.65 million) initial public offering, becoming the first firm in the nation to...

XRP price rallies 91% in a month due to 3 fundamental factors

In the past month, the price of XRP rallied 91% as the digital asset at last found some spark and is now playing catch...
bitcoin
Bitcoin (BTC) $ 18,265.32
ethereum
Ethereum (ETH) $ 603.15
ripple
XRP (XRP) $ 0.599576
tether
Tether (USDT) $ 0.997397
bitcoin-cash
Bitcoin Cash (BCH) $ 331.37
bitcoin-cash-sv
Bitcoin SV (BSV) $ 197.29
litecoin
Litecoin (LTC) $ 87.56
eos
EOS (EOS) $ 3.39
binancecoin
Binance Coin (BNB) $ 31.49
okb
OKB (OKB) $ 6.15
tezos
Tezos (XTZ) $ 2.60
leo-token
LEO Token (LEO) $ 1.30
cardano
Cardano (ADA) $ 0.163435
monero
Monero (XMR) $ 129.18
stellar
Stellar (XLM) $ 0.146421
chainlink
Chainlink (LINK) $ 15.53
huobi-token
Huobi Token (HT) $ 4.32
tron
TRON (TRX) $ 0.032206
usd-coin
USD Coin (USDC) $ 0.998653
dash
Dash (DASH) $ 93.80
neo
NEO (NEO) $ 18.89
iota
IOTA (MIOTA) $ 0.358764
nem
NEM (XEM) $ 0.154407
zcash
Zcash (ZEC) $ 78.67
maker
Maker (MKR) $ 602.88
paxos-standard
Paxos Standard (PAX) $ 0.999250
ethereum-classic
Ethereum Classic (ETC) $ 6.57
vechain
VeChain (VET) $ 0.015960
true-usd
TrueUSD (TUSD) $ 0.999598
ftx-token
FTX Token (FTT) $ 4.22
kucoin-shares
KuCoin Shares (KCS) $ 0.834166
waves
Waves (WAVES) $ 7.86