Hedera Leverages Chainlink for DeFi and RWA Developments
Hedera has announced an integration with Chainlink’s decentralized data infrastructure, bringing advanced capabilities to its network. This collaboration aims to strengthen decentralized finance (Decentralized Finance) applications and the adoption of tokenized real-world assets (RWA).
Developers on Hedera can now seamlessly access the on-chain data necessary to build secure and scalable applications.
ivy lever chain link data source
Hedera Integration Chainlink data source Providing its developers with reliable, tamper-proof market data. Decentralization with Chainlink Oracle The Network (DON) aggregates and verifies data from multiple high-quality sources, ensuring accurate and manipulation-proof pricing of digital assets. This feature is crucial for DeFi protocols, which require real-time financial market data for operations such as lending, trading, and risk management.
Data sources offer several key advantages, such as high-quality data, secure nodes, and decentralization.
Through this integration, Hedera developers can gain access to price feed contracts for multiple assets, enabling a new wave of financial applications that connect traditional and digital markets.
Chainlink Reserve Proof Adds another layer of trust and transparency Ivey’s ecosystem. This feature brings real-time reserve verification Tokenized assetssolve key problems Safety and accountability needs DeFi project. The decentralized approach eliminates the vulnerabilities associated with centralized verification methods.
This feature enables applications on Hedera to integrate transparent collateral checks, thereby increasing user and investor confidence.
“By providing the Chainlink standard to our developer ecosystem, we can increase access to high-quality, tamper-proof data powered by decentralized infrastructure, which is essential for building secure DeFi applications and scalable tokenized assets Critical,” said Elaine Song, HBAR Foundation’s Vice President of Strategy, in a press release shared with BeInCrypto.
The rapid growth of the Hedera ecosystem coincides with bullish activity in its native token, HBAR. Since November, HBAR’s market value has soared nearly 500%.
This surge was driven in part by the announcement of the first Canary Capital files for HBAR exchange-traded fund (ETF) November 12th. This ETF avoids derivatives and futuresopting to hold tokens directly to simplify investor access.
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