Chainlink Data Feeds will soon become the official data oracle solution for the TRON blockchain ecosystem, after TRON DAO joined the Chainlink Scale program. Chainlink’s industry-standard data oracles will help secure the two largest DeFi applications on TRON, which represent over 6.5 billion dollars in TVL.
Chainlink Data Feeds: the new official oracle solution for the TRON blockchain ecosystem
The industry standard decentralized processing platform, Chainlink and its Scale program, has won over the TRON DAO. In fact, the two have announced that Chainlink Data Feeds will soon become the official data oracle solution for the TRON blockchain ecosystem.
We’re excited to join the @Chainlink Scale program and adopt #Chainlink Data Feeds as TRON's official oracle solution.
TRON’s participation in the Chainlink Scale program will accelerate ecosystem growth and adoption by providing developers with sustainable access to… pic.twitter.com/aoRfSTbZxt
— TRON DAO (@trondao) October 31, 2024
“We are excited to join @Chainlink Scale and adopt #Chainlink Data Feeds as the official oracle solution for TRON. TRON’s participation in the Chainlink Scale program will accelerate the growth and adoption of the ecosystem by providing developers with sustainable access to high-quality and hyper-reliable oracle services. Once the Chainlink upgrade on TRON is launched, support and reliance on WINkLink as the oracle solution for TRON will cease. Over 6.5 billion dollars of TVL DeFi will be secured by Chainlink.”
The goal of TRON, one of the largest DeFi economies in the world, is to accelerate the growth and adoption of its blockchain, providing developers with access to Chainlink data.
Chainlink Data Feeds are industry-standard data oracles. They are defined as highly reliable, accurate, and decentralized onchain market data.
To successfully implement it, TRON DAO will need to completely discontinue the support and reliance on WINkLink as the oracle solution for the TRON blockchain, and the TRON DeFi ecosystem will transition to Chainlink Data Feeds.
Chainlink Data Feeds as the official choice of the Tron blockchain ecosystem
The Chainlink Data Feeds will contribute to protecting JustLend and JustStable, the two largest DeFi applications on TRON, which represent over 6.5 billion dollars in TVL.
.@trondao has joined Chainlink Scale & is adopting Chainlink Data Feeds as TRON's official oracle solution.
Once upgraded, TRON DAO will discontinue its support for @WinkLink_Oracle & $6.5B+ in DeFi TVL will become secured by Chainlink.#RoadToSmartConhttps://t.co/gbk3oHrkoU pic.twitter.com/rqRZyRMtx8
— Chainlink (@chainlink) October 31, 2024
“@trondao has joined Chainlink Scale and is adopting Chainlink Data Feeds as the official oracle solution of TRON. Once updated, TRON DAO will cease support for @WinkLink_Oracle and 6.5 billion dollars of TVL DeFi will be secured by Chainlink.”
From what has emerged, it seems that TRON will cover some operational costs of Chainlink’s oracle networks (for example, transaction gas fees) for a period of time, before such costs can be fully covered by fees for dApp users, as the ecosystem matures.
The Chainlink platform has made possible a secure transaction value of over 16,000 billion dollars and has delivered more than 15 billion verified onchain messages throughout the blockchain ecosystem. With this data in hand, Chainlink qualifies as the most adopted oracle solution in the blockchain sector.
In fact, the Chainlink Data Feeds actively contribute to protecting tens of billions of TVL for hundreds of DeFi protocols. In this way, it is possible to maintain solid security and high availability even in conditions of extreme market volatility and blockchain network congestion.
The initiative that combines AI, Blockchain, and oracles
Recently, Chainlink launched an initiative to tackle the challenge of unstructured data for the financial sector.
The idea is to combine AI, blockchain, and oracles to create unified gold records of corporate action data that operate on multiple blockchains. In this way, it would solve the lack of standardized and real-time data on corporate actions.
To assist him in his mission, two financial and market infrastructures, Euroclear and Swift, have been involved, as well as six financial institutions such as UBS, Franklin Templeton, Wellington Management, CACEIS, Vontobel, and Sygnum Bank.
At a technical level, the initiative also involved the three blockchain partners of Hyperledger Besu, Avalanche, and ZKsync.
In fact, the initiative has demonstrated successfully how Chainlink oracles can be used in combination with large language models (LLM) to validate and provide critical financial data on-chain.
