.chainlink price feeds have gone live on Polkadot-based MoonbeamNetwork. shauryamalwa reports.
Moonbeam, a major destination for multi-chain applications on Polkadot, has integrated Chainlink Price Feeds into its smart contract platform.
The availability of Chainlink’s price feeds helps enable builders to reliably source aggregated price information from many exchanges, helping ensure price accuracy. With the integration, developers can build even more sophisticated decentralized applications to launch on the Moonbeam network. Oracle's protocols like Chainlink are third-party services that fetch data from outside a blockchain to within it, ensuring the input data is verifiable and free from errors. Such a service is required as blockchains and blockchain-based applications can function as immutable stores of data, but can’t independently verify the correctness of the input data.
“Chainlink was a top requested feature from our community, and with the integration in place, friction is further reduced for developers building DeFi and other use cases,” Yoo said, acknowledging Chainlink as a “reliable oracle service.”