DeFi

when

Chainlink

Avalanche

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/chainlink-broadens-service-offerings" data-wpel-link="internal" rel="noopener noreferrer nofollow">Chainlink Broadens Service Offerings</a><br></p>
<p style="text-align: justify">Chainlink, a prominent player in the altcoins <a href="https://finance.coin-turk.com/" rel="noopener noreferrer nofollow" target="_blank" data-wpel-link="exclude">market</a>, has further fortified its position in the crypto industry by expanding its service portfolio. Known for its robust data processing and presentation capabilities, Chainlink has become indispensable for numerous DeFi platforms and protocols. This latest expansion of services is set to enhance its market dominance even more.</p>
<h2 id="chainlink-s-strategic-moves">Chainlink’s Strategic Moves</h2>
<p style="text-align: justify">The oracle network has recently ventured into the Real-World Assets (RWA) sector. By launching and progressively expanding its staking pool, Chainlink has significantly increased the utility of its tokens. The team is committed to long-term success in blockchain-based data services and is continually enhancing its market influence.</p>
<p style="text-align: justify">One of the notable advancements is the introduction of the Data Streams product on the <a href="https://en.bitcoinhaber.net/garanti-bbva-integrates-avalanche-c-chain" data-wpel-link="internal" rel="noopener noreferrer nofollow">Avalanche</a> network. GMX, a decentralized exchange with futures capabilities, is the first customer to utilize this service. The real-world market data provided by Data Streams will empower this protocol, showcasing Chainlink’s effectiveness.</p>
<h2 id="how-does-data-streams-work">How Does Data Streams Work?</h2>
<p style="text-align: justify">Data Streams utilize a “pull-based” oracle model to offer off-chain market data. This allows platforms like GMX to quickly and efficiently access the instant data they need. While the data is verified on the network, it is only done when necessary, such as during actual transactions, ensuring both speed and security.</p>
<p style="text-align: justify"><img fetchpriority="high" decoding="async" class=" wp-image-365800 aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/06/chainlink-27-haziran-haberleri.png" alt="" width="1243" height="671"></p>
<h2 id="implications-for-avalanche-ecosystem">Implications for Avalanche Ecosystem</h2>
<p style="text-align: justify">Although this development is not directly related to price, it holds significant potential for the Avalanche ecosystem. In the long term, it could lead to more diverse DeFi and data feed projects. This diversification of revenue sources also provides developers with greater flexibility and improved infrastructure options.</p>
<h2 id="concrete-implications-for-users">Concrete Implications for Users</h2>
<p style="text-align: justify">Chainlink’s advancements offer concrete benefits for users:</p>
<ul>
 <li>Enhanced token utility through expanded staking pools.</li>
 <li>Access to real-world market data for DeFi protocols, boosting efficiency.</li>
 <li>Increased flexibility and security for developers in the Avalanche ecosystem.</li>
 <li>Potential for more diverse and robust DeFi projects.</li>
</ul>
<p style="text-align: justify">At the start of 2024, Chainlink began collaborating with Hong Kong-based asset management firm Arta TechFin on tokenized real estate projects. Financial giants are optimistic about the <a href="https://newslinker.co" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="exclude">future</a> of real-world asset tokenization, and Chainlink aims to capture a significant market share with its CCIP and other offerings.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/chainlink-broadens-service-offerings" data-wpel-link="internal" rel="noopener noreferrer nofollow">Chainlink Broadens Service Offerings</a></h5>

Chainlink Broadens Service Offerings

Table of Contents

BH NEWS

Other articles published on Jun 27, 2024

MATIC Price Falls Over 14% In 7 Days While Analysts Call Cosmic Kittens Pump

Unusually High Trading Volumes in 5 Altcoins on South Korean Cryptocurrency Exchanges

Starknet Boosts Ethereum’s Scalability

ENS Token Surges Over 8% Amid Rebranding Announcement

Top Newly Launched Altcoins Poised for a 100X Surge in July

Coinbase Sues SEC and FDIC, Demands Transparency in Crypto Regulations

Join our free newsletter for daily crypto updates!