Chainlink’s integrations with crypto chains BNB Chain, ETH and Polygon
- These new integrations will unlock new levels of cross-chain interoperability among the best blockchain platforms.
- Chainlink is also working on a project to provide real-time insight into the reserves held by stablecoin issuers.
Despite all the recent volatility and turmoil in the crypto space, oracle service provider Chainlink continues to work on key projects. On Sunday, March 12, Chainlink announced a total of 12 different integrations.
This includes the integration of four of Chainlink’s services across seven different chains such as Avalanche, Arbitrum, BNB Chain, Base, Polygon Ethereum and Fantom.
⬡ Chainlink Adoption Update ⬡
There were 12 integrations of 4 #Chainlink services across 7 different chains: #Arbitrum, #Avalanche, #Base, #BNBChain, #Ethereum, #Phantomand #Polygon.
Chainlink helps ensure #Web3 room. pic.twitter.com/LpExoGvYyo
— Chainlink (@chainlink) March 12, 2023
These integrations from Chainlink will of course help and make it easy for these major blockchain platforms to communicate with each other. Interoperability across blockchains is very key to the overall success of the Web3 space, and Chainlink is proving to be a driving force behind it.
Some of the key integrations that Chainlink plans to introduce with these market players include BuildOnBase, LendeXeFinance, OrangeCometNFT, Planetix0, plexus_fi, quickfundIO, RDNTCapital, SocialudoGame, SVSNFT, Tusdioand Verse shoe.
In addition, Chainlink has also been working on a number of key projects recently. One of them is Chainlink’s own self-service serverless platform aka Chainlink Functions. This allows developers to easily connect decentralized applications (dApps) or smart contracts to any Web 2.0 API. Chainlink Functions seeks to ensure that developers can merge leading Web3 smart contracts with the power of Web 2.0 APIs.
Michael Robinson, Product Marketing Manager at Chainlink Labs recently provided a series of examples explaining how Chainlink capabilities can raise the efficiency of digital services worldwide. For example, using a Chainlink (LINK) enabled smart contract, it will be possible for users to retrieve trade forecasts from OpenAI every 24 hours. Moreover, Chainlink also provides several ways to simplify data procedures in Web2 applications.
Chainlink and Web3
The Oracle service provider Chainlink has been working on interesting new projects in the Web3 area. In its recent development, Chainlink presented an interesting solution to provide real-time insight into the reserves held by stablecoin issuers.
Chainlink believes that as Web3 continues to expand rapidly, stablecoins will have a crucial role to play. They noted:
Chain link is a core pillar of #Web3which enables transactions worth tens of billions of dollars every day. #Chainlink Proof of Reserve provides transparency in the assets that support stablecoins with certainty, helping to increase user trust.
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Recently, Chainlink’s latest integration was with SAWA Crypto, a multi-chain launchpad, and Decentralized Finance (DeFi) protocol. Here, SAWA crypto will use price feeds from Chainlink to denote its crypto offering. For its users, SAWA crypto seeks to simplify the process of using DeFi products by using Chainlink Price Feeds and the Chainlink Automation tool.
Earlier today, Chainlink’s native crypto LINK surged along with the broader cryptocurrency market gaining more than 8 percent. As of press time, LINK is trading at a price of $6.60 and a market capitalization of $3.4 billion.
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