Sunday, February 28, 2021
Home Crypto News Market Kraken Exchange to Launch Chainlink Node to Provide Spot Prices to DeFi...

Kraken Exchange to Launch Chainlink Node to Provide Spot Prices to DeFi Apps

- Advertisement -

Cryptocurrency exchange Kraken will launch its Chainlink node to provide spot prices as part of its integration with the Decentralized Finance Ecosystem (DeFi).

Kraken states that the launch of the Chainlink node will ensure the translation of cryptocurrency exchange rates from the oracle to any blockchain.


The mechanism will allow the use of a Chainlink cryptographic signature to confirm the validity of the data transfer from Kraken. Oracle will provide real-time spot price data.

This data can be used for decentralized applications, including derivative contracts, lending applications, international payments, stablecoins, and automated asset management protocols.

The Kraken Intelligence research group will release a report detailing the risks of price manipulation and other challenges in the DeFi markets, so that market participants can safely take advantage of the new opportunities.

FTX US

Oracles act as an intermediary. They extract external data, confirm its accuracy and authenticity, and then transmit this data to the blockchain for the execution of smart contracts.

Kraken’s vice President of product development, Jeremy Welch, said that the exchange is ready to provide products and services that are in demand in the cryptocurrency market. Given the development of the DeFi industry, there is a need for high-quality data, since the security of assets depends on it.

We are pleased to provide DeFi app developers with access to our spot prices through the Chainlink node. Developers will not only get accurate data, but also be sure of it’s origin. said Jeremy Welch.

Recall that six months ago, the Huobi exchange also launched a Chainlink node to provide users with access to Huobi Global data.

follow us in feedly

Join Our Community: Twitter, Facebook, Telegram

Donate Crypto

We are a small team striving to provide best content on Cryptocurrency. 

Your Donations will keep us alive.

BITCOIN (BTC)

1F9Pzyh96BT3TLNEuGaZmSbMYUfR9PwjX3

ETHEREUM (ETH)

0x831433a5495ed8949813747e2bb43abfb9918141

USDT (ERC20)

0x831433a5495ed8949813747e2bb43abfb9918141

LITECOIN (LTC)

LU1T8upd8QNU4UuzxUYSF75WwsfnFYQYU7

RIPPLE (XRP)

103332432

rEb8TK3gBgk5auZkwc6sHnwrGVJH8DuaLh

CHAINLINK (LINK)

0x831433a5495ed8949813747e2bb43abfb9918141



Jakkk
Jakkkhttps://thecryptobasic.com/
Owner of TheCryptoBasic. Involved in cryptocurrencies for more than five years, Love to trade, and write on cryptocurrencies. My basic aim is to provide genuine information to cryptocurrencies readers because crypto is filled with frauds and scams. True information is very rare to get. So I will be providing accurate information about cryptocurrencies topics, that users can trust.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

- Advertisment -

Recent News & Articles

ASIC Miner Manufacturer Ebang To Start Mining LTC And DODGE

Mining equipment manufacturer Ebang, which is engaged in Bitcoin mining, plans to expand mining operations on Litecoin (LTC) and Dogecoin (DOGE). For mining these cryptocurrencies,...

Cardano Founder Welcome Dubai Firm FD7 Decision To Sell $750 Million Of Bitcoin To Buy Cardano And Polkadot

The Dubai-based crypto fund 'FD7 Ventures' will sell over $750 million in Bitcoin in the coming month to buy Cardano and Polkadot, The company...

Just Starting In Crypto And Confused About All The Crypto Wallet Jargon?

Getting into the cryptocurrency world means that you need to understand the industry background and some of the necessary technical terms and concepts. So,...

President Donald Trump NFT Sold For Record 6.6 Million USD

Digital artwork "Crossroad" by artist Mike Winkelman, known as Beeple, sold for a record $6.6 million. The Non Fungible token (NFT) contains an image...

Subscribe To Our Newsletter

Get Updated with All The latest Crypto News, Articles, Reviews, Analysis and much more. Delivered Every Monday.

follow us in feedly