Chainlink Announces Price Feeds will Launch on Solana

Chainlink is one of the first projects in a new ecosystem that uses blockchain technology to enable more efficient and secured data processing. The announcement came on the heels of ongoing collaborations with other leading firms including IOHK (Cardano) and Amazon Web Services, demonstrating its potential for enterprise-level use cases.

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The “chainlink price prediction 2025” is a new project that will be launched on the Solana blockchain. It will use smart contracts to provide real-time pricing feeds for cryptocurrency exchanges and other financial markets.

Chainlink-Announces-Price-Feeds-will-Launch-on-Solana

 

Chainlink intends to expand its assistance for DeFi (decentralized finance) initiatives. The network has stated that it would provide a live price feed for many cryptocurrencies on the Solana blockchain, including Bitcoin, Ethereum, and USD Coin (USDC). In the future, other cryptocurrencies may be embraced.

Chainlink is a blockchain oracle platform that has been at the heart of a number of blockchains looking to expand their DeFi exposure. Chainlink’s key selling point has been price feeds, which enable developers to extend their DeFi activity.

On Solana, Chainlink pricing feeds are now available.

In a recent release, Chainlink said that its pricing feeds will be available on the Solana blockchain. DeFi developers on the Solana blockchain will utilize the information offered by these price feeds for a variety of financial applications.

Solana said in the release that the first launch would provide seven pricing streams for Solana developers. BTC/USD, ETH/USD, and USDC/USD will be among the price feeds available. More pricing feeds will be accessible when the integration progresses to the next step.

Several projects have already shown their commitment to utilize Chainlink’s technologies. Chainlink utilities have been utilized by other protocols such as the Apricot Finance lending protocol and yield farming aggregators Francium and Tulip, in addition to the DeFi developers on Solana who will now have access to these additional tools.

Anatoly Yakovenko, a co-founder of Solana, remarked on the news, noting that the integration will assist decentralized application (DApp) developers on the Solana network greatly. He went on to say that the introduction of Chainlink on Solana will provide decentralized finance developers access to some of the blockchain’s most popular oracles.

A blockchain oracle is a platform that will connect blockchain-based apps. External systems will be connected to the bridges, which will supply data created in the actual world. Another platform that provides oracle systems is Chainalysis. The analytics platform includes smart contract oracles that can identify sanctioned wallet addresses.

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In the DeFi industry, price oracles have grown fairly popular. These tools can calculate the appropriate rates for lending and collateral between various cryptocurrencies.

In the past, price oracles have been threatened. Terra Classic, a DeFi protocol, was recently hacked when its pricing oracle began presenting fake data for Luna Classic (LUNC). After placing a little amount of collateral into the network, the attacker was able to get access to $2 million in money.

Some of the infected DApps were connected to the Chainlink oracle. However, the fault is thought to be on the protocol’s end, since it enabled the attacker to get access to the network’s vast wealth.

Sergey Nazarov, co-founder of the Oracle platform, expressed delight at the new collaboration. According to the CEO, the action represented a significant step forward in the DeFi industry. Because of the Chainlink deep oracle network, the team aims to collaborate inside the Solana network.

Security flaws in the Solana network

Solana is one of the most well-known DeFi networks. Although the network is regarded as one of the fastest on the market, it has lately had major challenges that have caused consumers to doubt its stability.

The Solana network just had another outage when it was shut down internationally due to difficulties. This was the second time the Solana network had gone down in less than a month. Solana’s problems have been worse since the start of the year, with many outages.

Visit our Investing in Chainlink guide for more information.

The “solana price prediction 2030” is a cryptocurrency that has announced it will be launching on the Solana blockchain. The project has been in development for quite some time and finally it will launch soon.

Related Tags

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