Hedera announced support for Chainlink Data Feeds and Chainlink Proof of Reserve on its platform. This opens new opportunities for developers, allowing them to use verified data to create secure decentralized finance applications and tokenized assets.
New Partnership with Chainlink
Hedera is now available for integrating Chainlink Data Feeds, which gathers data from leading providers and exchanges. This ensures market prices in Hedera's applications are accurate and fair. Elaine Song, Vice President of Strategy at The HBAR Foundation, stated: "By making the Chainlink standard accessible to our developer ecosystem, we enable access to high-quality data backed by decentralized infrastructure."
Impact on Hedera Developers
Integration with Chainlink also allows Hedera developers to use accurate off-chain data, enhancing the quality of applications built. A key feature is the aggregation of data from hundreds of exchanges to filter outliers and ensure the most accurate prices. Chainlink uses a fully decentralized network to protect data from a single point of failure.
LINK and HBAR Token Dynamics
This month, both platforms' tokens have seen significant price growth. LINK gained over 108%, while HBAR gained $231%. LINK reached a new ATH of $30.70, although HBAR has fallen 2% to $0.28 after hitting a daily high.
The integration of Chainlink into the Hedera network opens new horizons for DeFi app development, providing access to reliable data. These steps contribute to the stable growth of both ecosystems and their native tokens.
