Matic Becomes Second Blockchain After ETH To Integrate LINK Data Feeds

Matic becomes the second blockchain to successfully integrate the Chainlink data feeds after Ethereum did a while back, as we are reading more in our chainlink news today.

One of the most popular networks Matic announced that it has finally started deploying Chainlink feeds as the recommended oracle solution for developers. Now, Matic becomes the second blockchain after Ethereum to integrate Chainlink Price Feeds oracles. In a press release, Matic Network revealed that it has become the second blockchain after Ethereum to successfully deploy active chainlink price feeds oracles and now there are five price feeds that are already launched on the Matic mainnet: MATIC/USD, USDC/USD, ETH/USD, DAI/USD, USDT/USD.

The increase in demand for DeFi solutions on the Matic Network means that the other feeds will be included in the future with the document saying that there are a few Defi projects that have committed to using Chainlink like PlotX’s prediction markets as well as EasyFi. By using Chainlink’s data feeds, these projects will be able to execute very important futures like checking loan collateralization, minting, and swapping synthetic assets.

Matic chose Chainlink because of the opportunity to offer developers access to high-quality information within the decentralized oracle infrastructure. Other benefits include Sybil-resistance oracle nods and the transparent processes where the users and the developers will be ready to monitor how the oracle network and individual nodes operate in real-time. Also, outside of the Price Feeds, Chainlink will serve as a general-purpose oracle that will provide connectivity to various off-chain APIs thus it will bolster the development of all the externally-connected blockchain-based apps. These projects are all taking advantage of the flexibility that is provided by Chainlink.

As per the latest link news, Chainlink price oracles are dominating the decentralized finance (DeFi) data feeds amid their new KyberSwap integration. They are quickly emerging as the industry standard data source for the DeFi sector and the top project Kyber Network is integrating the price feeds for its token swaps. Additionally, the product manager at Chainlink, Johann Eid, noted that the LINK price oracles and Reference Data with KyberSwap has the potential of bringing more security and reliability to the price feeds their traders rely on for calculating slippage.”