Ethereum

DeFi

Chainlink

You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/21shares-utilizes-chainlink-for-proof-of-reserves/" data-wpel-link="internal">21Shares Utilizes Chainlink for Proof of Reserves</a> 
Bitcoin and <a href="https://en.coin-turk.com/ethereum-network-sees-surge-in-gas-fees-due-to-increased-transaction-volume/" data-wpel-link="internal">Ethereum</a> ETF issuer, one of the few <a href="https://finance.coin-turk.com/" data-wpel-link="exclude">companies</a> in this space, has now partnered with a popular altcoin. They are doing this for greater transparency. At the same time, this altcoin, which is almost monopolizing its field, gains an important partner. Despite competitors like Binance Oracle, Chainlink has grown steadily over the years. 
<h2 style="text-align: justify" id="chainlink-link-and-21shares">Chainlink (LINK) and 21Shares</h2> 
21Shares, which issues ETFs traded on the world’s largest exchanges, will leverage PoR for proof of reserves. Especially after the FTX collapse, questions arose about the real reserves of exchanges. While many centralized exchanges regularly publish reserve reports, they saw that this was not enough and started creating proof of reserves. Chainlink‘s product is exactly for this purpose. Chainlink Labs CBO Johann Eid said; 
<blockquote> 
 “21Shares plays an important role in supporting the adoption of digital assets, and the Chainlink platform helps financial institutions achieve their vision of seamless tokenization on a global scale.” 
</blockquote> 
With PoR, reserves can be verified instantly and live. The integration was implemented following the ETH ETFs launched on July 23. Other ETF issuers may also seek support from Chainlink at this point, which could positively impact LINK Coin’s price performance in the medium and long term. 
<img loading="lazy" loading="lazy" decoding="async" class="size-full wp-image-374938 aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/07/LINKUSDT_2024-07-29_17-16-50.png" alt="" width="1814" height="836"> 
Indeed, with CCIP, Chainlink already guides many popular financial companies in the RWA field, providing them with infrastructure. At the same time, over the years, Chainlink has almost monopolized the DeFi space with its price feeds solutions. After <a href="https://newslinker.co" target="_blank" rel="noopener" data-wpel-link="exclude">the news</a>, the LINK Coin price did not experience a significant increase. 
<h5>The post first appeared on COINTURK NEWS: <a href="https://en.coin-turk.com/21shares-utilizes-chainlink-for-proof-of-reserves/" data-wpel-link="internal">21Shares Utilizes Chainlink for Proof of Reserves</a></h5>
The post <a href="https://en.coin-turk.com/21shares-utilizes-chainlink-for-proof-of-reserves/" data-wpel-link="internal">21Shares Utilizes Chainlink for Proof of Reserves</a> appeared first on <a href="https://en.coin-turk.com" data-wpel-link="internal">COINTURK NEWS</a>.

21Shares Utilizes Chainlink for Proof of Reserves

Table of Contents

COINTURK NEWS

Další články publikované 29. 7. 2024

Solana's Solend Rebrands to Save and Launches Dumpy.fun for Shorting Memecoins

Michael Novogratz’s Galaxy Digital Acquires $1B in Ethereum Staking Assets

NFTs face lowest monthly sales since November 2023

Token unlock Alert! $1.5 billion worth tokens set to unlock in August

Binance's First Airdrop Portal Project: What is Banana Gun?

NIN-SIM verification: NCC orders immediate reactivation of affected lines

Join our free newsletter for daily crypto updates!