Huobi Integrated Services With Chainlink For Improved Network Support

Huobi integrated services with Chainlink with further plans to run a full node to support the network as we are about to read more in the latest Chainlink news.

Huobi is one of the world’s largest crypto exchanges and has announced an integration with Chainlink with future plans to leverage oracles and to make the exchange’s trading API available to smart contracts. The integration will make realtime market price data easily visible to Defi and other dapps. Will Huang the CEO of Huobi Wallet said:

 “We are very excited to accelerate our involvement in this emerging trend by providing Chainlink users access to Huobi Global exchange data, as well as running our own Chainlink Node. We want to accelerate the growth of DeFi, and we feel that supporting Chainlink’s critical oracle services are key to enabling DeFi to take the next step in its evolution.”

Oracles have a very important role in smart contracts and they often get connected with off-chain data from the outside world. Chainlink is by far the most used oracle platform in the Ethereum Defi ecosystem. Although Huobi integrated services with chainlink and the decision is not new, as Binance was the first exchange to provide price data, the exchange takes the integration a step further by becoming the first major exchange to run a standalone node on the network. The first price pairs provided by the oracle will include BTC/USDT, BTC/ETH, ETH/USDT, and Link/ETH.

As per the recent Huobi news, The Singapore-based Huobi exchange is in the crypto news today for announcing that its Moscow division will soon start accepting RUB for deposits. As the release notes, users of Huobi Russia would be able to deposit rubles into their wallets via bank transfers. Now, HBRU CIS will be in charge of the transactions processed through a bank in Uzbekistan.

Thanks to the scalable smart contracts, oracles, and verifiable randomness function (VRF) features, the Chainlink oracles will rise and be used on this gaming platform. The announcement came on June 29, when the firm (which is a venture fund and development lab dedicated to non-fungible token-based blockchain games) said that it will use the Chainlink oracles and blockchain to power various features of the broader Polyient Games ecosystem.

NFT-focused @PolyientGames is integrating #ChainlinkVRF to assure transparency for the minting and random distribution of PGFK rewards—a membership #NFT that provides lifetime rewards & perks to holders within the Polyient Games Ecosystem. https://t.co/6LuiTyvuYV

— Chainlink – Official Channel (@chainlink) June 29, 2020