Chainlink Pricing Feeds goes live and is now integrated successfully on the Harmony testnet. It will help developers get direct access to the D top decentralized price oracle solution of the DeFi industry.
Harmony developers will now be able to create and test a range of applications for data-driven DeFi by using Chainlink oracles to get high-quality, error-free pricing feeds. In the initial stage of integration, there will be multiple Chainlink Feeds like- ETH/USD/BUSD/USD, DAI/USD, DSLA/USD, and others.
Applications like algorithmic stablecoin, markets for lending/borrowing, options contracts, and many more could benefit from price oracles. These Price Feeds of Chainlink are protected using oracle networks which are decentralized. They comprise many node operators which are Sybil-resistant and obtained from top-quality data aggregators to provide broad market coverage.
The company recommends Chainlink oracles to any Harmony developer looking out for financial market data. It provides well-tested infrastructure, securing tens of billions of dollars across DeFi when the market keeps fluctuating and there is a decline in the infrastructure.
Meanwhile, Harmony developers can perform properly test Chainlink using the Chainlink-Harmony Documentation. Developers can use Chainlink while working on the Harmony Hackathon, which provides a total of $1 million in awards, including Chainlink-sponsored incentives.
Harmony is a finely designed and developed blockchain used to store assets and identities and create smart contract products and DAOs. The Harmony mainnet comprises four 1000-node shards that can produce blocks with a 2-second transaction time and minimal fees.
As Harmony expands its DeFi ecosystem, it is vital to offer developers highly demanded infrastructure for creating apps, particularly pricing oracles. Chainlink is the right place to begin the process.
According to Harmony’s co-founder, Stephen Tse, Integrating Chainlink’s precise, flash-loan-resistant data is a critical step toward launching a new-age DeFi development in the ever-developing Harmony ecosystem. Application developers may concentrate on developing their main product and providing an excellent service to their consumers with the knowledge that the oracle mechanism is safe.
About Chainlink
Chainlink is the leading company powering hybrid smart contracts. Developers may use Chainlink Decentralized Oracle Networks to enhance the capabilities of smart contracts on any Blockchain by accessing the greatest collection of good quality data sources and safe off-chain calculations.
About Harmony
Harmony’s mainnet runs ETC applications within 2-seconds and has the lowest fees, being an open blockchain.