Chainlink Data Streams Go Live on Starknet, Boosting DeFi

• Ethereum scaling network Starknet has launched Chainlink Data Feeds on its mainnet to enable developers to build scalable and secure DeFi applications.
• Starknet has been working with Chainlink for over a year as a member of the SCALE ecosystem where its tokens covered part of the operating costs of Chainlink’s oracle nodes.

Starknet, a secure scaling technology for the Ethereum community, has integrated Chainlink Data Feeds onto its mainnet, ushering in a new era for its DeFi community.

Starknet announcement integration on Thursday, calling on its community to leverage Chainlink’s “highly secure, reliable and accurate data” when building their dApps.

See more

Chainlink data feeds are trusted, decentralized sources of off-chain data, such as real-world asset prices, that power unique smart contract use cases, such as in DeFi. These feeds are powered by independent, Sybil-resistant node operators and aggregate their data from multiple premium APIs. While built on Chainlink, the feeds are blockchain-agnostic and power applications across dozens of blockchains, as we’ve discussed before. reported.

Starkneton the other hand, is a permissionless Validity-Rollup on the Ethereum network that allows decentralized applications to scale massively. It is based on ZK-STARK technology and is one of two solutions built by StarkWare; the other is StarkEx.

Starknet has been a huge success in the Ethereum ecosystem. As we reported In February, its total value locked reached $1.3 billion, the fourth-highest value among Ethereum layer 2s.

Starknet and Chainlink to power dApps

Blockchain applications rely on smart contracts. However, whether on Ethereum, its L2s like Starknet, or other L1s, smart contracts cannot natively access real-world data. For example, if a smart contract is based on the price of ETH, it has no way of tracking changes in the exchange market. This is the challenge that Chainlink solves, by providing a bridge between the real world and the blockchain world.

Since the beginning of 2022, Chainlink data feeds have facilitated over $12 trillion, providing over 12 billion on-chain data points.

Johann Eid, Chief Commercial Officer of Chainlink Labs, commented that the company “is pleased to support the Starknet ecosystem with native integration of Chainlink data feeds, enabling developers to build highly secure and scalable DeFi applications.”

He added:

With hyper-reliable, accurate, and decentralized market data natively accessible on-chain, developers can build next-generation applications on Starknet.

On behalf of the Starknet Foundation, CEO Diego Oliva said the integration is critical to his organization’s mission of providing developers with “highly secure, reliable, and accurate data that will unlock a multitude of advanced DeFi use cases and drive adoption of the Starknet ecosystem.”

This is not the first collaboration between Starknet and Chainlink. Early last year, its developer StarkWare announcement that it had joined the Chainlink SCALE program. Under the partnership, Starknet tokens would be used to cover some of the operating costs of Chainlink’s oracle nodes.

LINK jobs at $12.59, down 2% over the past day.

Recommended for you:

No spam, no lies, only insights. You can unsubscribe at any time.

Fuente