Celo

DeFi

Chainlink

Avalanche

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Oracle network Chainlink has launched its Data Streams product on the Avalanche network. GMX, a decentralized perpetual futures trading platform, has taken the lead by using the real-world market data provided by Data Streams to power its perpetual futures protocol.
Chainlink’s Data Streams differ from its traditional “push-based” oracles, which obtain and verify data onchain at regular intervals or when certain thresholds and parameters are met. Instead, Data Streams relies on a “pull-based” oracle model that retrieves offchain market data on demand with low latency.
This is especially useful for perpetual futures platforms like GMX, where traders require access to raw, high-frequency price data in real time and cannot wait for onchain verification each time the data is needed.
Chainlink’s Data Streams still verify the data onchain, but only when necessity calls for onchain verification — like the actual execution of a trade.
<figure data-ct-non-breakable="true"><img src="https://s3.cointelegraph.com/uploads/2024-06/9da2f80f-60eb-4da8-b758-808c74527885.png" alt="" title="">
 <figcaption style="text-align: center;">A simplified graphic depicting the difference between pull-based and push-based oracle systems. Source: Chainlink
 </figcaption>
</figure>
In the wake of the Chainlink Data Streams deployment on the Avalanche network, Johann Eid, chief business officer at Chainlink Labs, said:
<blockquote data-ct-non-breakable="true">
 “By offering unmatched speed and resiliency, Data Streams enable DeFi protocols to provide ultra-fast, high-throughput DeFi products while maintaining the high-security guarantees of onchain finance.”
</blockquote>
Related:&nbsp;<a href="https://cointelegraph.com/news/chainlink-co-founder-importance-oracle-networks-nyse-glitch" rel="noopener noreferrer nofollow">Chainlink co-founder notes importance of oracle networks following NYSE glitch</a>.
<h2 data-ct-non-breakable="true" id="chainlink-makes-strides-in-2024">Chainlink makes strides in 2024</h2>
Chainlink continues to deploy its products across the blockchain landscape. In May, the oracle provider announced an&nbsp;<a href="https://cointelegraph.com/news/celo-integrates-chainlink-ccip-interoperability-protocol" rel="noopener noreferrer nofollow">integration with Celo</a> to provide users of the Ethereum layer-2 network with Chainlink’s CCIP Interoperability Protocol.
More recently, Chainlink’s Automation features and CCIP protocol&nbsp;<a href="https://cointelegraph.com/news/chainlink-ccip-protocol-automation-live-gnosis" rel="noopener noreferrer nofollow">went live on the Gnosis network</a>, allowing users to offload heavy computing tasks to the Chainlink network, potentially reducing gas fees by up to 90%.
<h3 data-ct-non-breakable="true" id="tokenization-of-hard-assets">Tokenization of hard assets</h3>
Earlier in 2024, Chainlink&nbsp;<a href="https://cointelegraph.com/news/arta-techfin-chainlink-expand-partnership-tokenize-real-world-assets" rel="noopener noreferrer nofollow">announced a partnership</a> with Arta TechFin, a Hong Kong-based asset management firm, to tokenize real estate — a notoriously illiquid asset class.
Tokenizing real estate would drastically overhaul the buying and selling of property, drastically lowering transaction costs and unlocking liquidity encumbered in these hard assets.
Such efficiencies are attractive to institutional and individual investors alike, Kunal Bhasin of KPMG Canada explained. Moreover, tokenization of real estate could&nbsp;<a href="https://cointelegraph.com/news/institutional-defi-players-will-buy-tokenized-real-estate-kpmg" rel="noopener noreferrer nofollow">democratize commercial real estate</a>, allowing smaller players to participate in the commercial real estate sector traditionally available to larger investors.
Magazine:&nbsp;<a href="https://cointelegraph.com/magazine/blockchain-detectives-mt-gox-collapse-birth-chainalysis/" rel="noopener noreferrer nofollow">Blockchain detectives: Mt. Gox collapse saw birth of Chainalysis</a>.

Chainlink data streams go live on Avalanche Network

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Cointelegraph

Інші статті, опубліковані 27 черв. 2024 р.

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