On Solana, developers will be able to leverage decentralized pricing feeds.
Chainlink is now available through Solana Devnet.
Chainlink is a cryptocurrency oracle that offers price feeds for over 75 asset pairs, including BTC/USD and ETH/USD.
These feeds, according to Solana, may be utilized in most DeFi apps, saving developers time and money by removing the need to create comparable services from scratch. Instead, developers will concentrate only on their core business logic and developing next-generation apps, according to the initiative.
Solana claims that the price feeds provide “sub-second updates,” which is critical considering cryptocurrency’s fast price swings.
So yet, according to Solana, Chainlink’s pricing oracles have only been connected with the Solana devnet. It intends to connect the oracles to the mainnet by the end of 2021, less than two years after the initiative was originally announced.
Both projects are noteworthy.
The inclusion results from a partnership between two of the most well-known crypto projects currently under development.
Solana (SOL) is the tenth most valuable cryptocurrency, having a market capitalization of $20 billion. When Ethereum was experiencing transaction congestion, the project gained traction by building a high-speed Ethereum rival.
Meanwhile, Chainlink (LINK) is the 16th most valuable cryptocurrency, with a market capitalization of $11 billion. It has created agreements and sponsorships with over 200 crypto projects, including well-known brands such as Ampleforth and Paxos.