• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Skip to footer
  • About us
  • Write for us
  • Terms and Conditions
  • Privacy Policy
  • Disclaimer
  • Contact
  • All Posts
  • Advertise

TronWeekly

Crypto World News

  • Home
  • Education
    • Best TRON Wallets
    • Beginner’s guide to TRON
  • Opinion
    • Tron Tokens
    • Market Analysis
  • Industry
    • Tron Exchange
    • Project Review
  • Press Release
  • Advertise
  • About us
    • The Team
    • Editorial Policy
    • Write for us
    • Privacy Policy
    • Disclaimer
    • Terms and Conditions
    • Contact
You are here: Home / News / Chainlink’s Price Surges As It Bags Yet Another Integration
Chainlink’s Price Surges As It Bags Yet Another Integration

Chainlink’s Price Surges As It Bags Yet Another Integration

October 26, 2020 by Chayanika Deka

Chainlink has a major player when it comes to building infrastructure that allows the interoperability of smart contracts. In the latest news for the ecosystem, Asia-based public blockchain, PlatON revealed joining forces with Chainlink.

The latest collaboration is aimed to integrate Chainlink’s decentralized oracle network into PlatON’s next-generation PoS blockchain platform, starting with its mainnet sandbox Alaya.

Leading Asia-based public blockchain @PlatOn_Network is integrating #Chainlink as its recommended oracle solution. The initial focus is integrating Chainlink's price feeds so its devs can begin building scalable, universally connected #DeFi applications. https://t.co/3YcslJzVb6

— Chainlink (@chainlink) October 25, 2020

According to the official announcement, PlatON asserted,

“This integration ensures developers building on our scalable, decentralized, privacy-preserving blockchain have access to Chainlink’s highly secure and reliable oracles for building more advanced smart contract applications that interact with real-world information and systems, including premium data providers, legacy systems, IoT networks, cloud infrastructure, and more.”

PlatON intends on allowing for the creation of new DeFi applications previously not achievable on other networks hampered by network congestion and slow speeds. The platform aims to achieve scalability achieved, following which the developers of the platform will essentially access external resources that are not inherently generated or available on-chain, such as aggregated price feeds.  This integration comes after PlatON identified Chainlink’s price reference data feeds as a perfect fit to provide its developers with a framework for obtaining financial market data.

Chainlink’s rising popularity

Over the last couple of months, Chainlink has emerged as a preferred oracle solution. It has captured more than 280 partnerships, nearly 160 of which have been in the year 2020 alone. It has established a monopoly [of sorts] in the ecosystem. A major contributor to this was Ethereum’s perennial problem of soaring gas fees and congestion on the network. This, in turn, has triggered a rise to stiff competition among several oraclized data providers, and, so far, Chainlink appeared to be leading the space.

LINK Token

chainlink charts

Unlike other DeFi tokens, which remained unfazed by the latest bullish price action, LINK surged significantly higher. In terms of price, Chainlink’s native token has witnessed one of the strongest rebounds from its recent lows across the overall altcoin market. At the time of writing, it was priced at $12.17 after surging by 13% over the past week, thus surpassing a crucial resistance level of $11.69. The latest development of integration has further sparked off bullish signals.

Filed Under: News Tagged With: Chainlink (LINK)

Primary Sidebar

Recent Posts

  • Cryptocurrency balance freeze of Vauld: Indian saga August 14, 2022
  • Vauld’s Legal Woes Mount After ED Freezes Assets Worth $46M August 12, 2022
  • XRP Rewards Programs Now In Japanese Shinsei Bank August 12, 2022
  • Trexpunks Boosts NFT Market Sentiment With New Features August 12, 2022
  • Pets vs Pets August 12, 2022

Footer

News

  • Altcoin News
  • Bitcoin News
  • Blockchain
  • Tron News
  • World

Digest

  • Meet the Founder
  • Price Winning Article
  • DeFi
  • Cyber Security
  • Crypto Scam

Industry

  • Project Review
  • Technology
  • Fintech
  • Tron Exchange
  • New in Town

Tron Universe

  • Event and Tron Parties
  • New in Town
  • Tron Tokens

Follow Us

Subscribe US

Copyright © 2022 · Tron Weekly. All Rights Reserved. NOTE: Tron Weekly is an independent crypto news site that adheres to the strict journalism policy anchored on transparency, trust, and objectivity, we have no affiliation with the TRON Foundation, its founder Justin Sun or any other cryptocurrency firm.