Hedera has announced an integration with Chainlink’s decentralized data infrastructure, bringing advanced capabilities to its network. Furthermore, the collaboration aims to enhance decentralized finance (DeFi) applications and the adoption of tokenized real-world assets (RWAs).
Developers on Hedera now have direct access to essential on-chain data to build secure and scalable applications.
Hedera uses chainlink data feeds
Hedera’s integration with Chainlink’s data feeds equips developers with reliable, tamper-proof market data. Chainlink’s decentralized oracle network (DON) aggregates and verifies data from multiple high-quality sources, ensuring accurate and manipulation-resistant pricing for digital assets. This functionality is also critical for DeFi protocols, which require real-time financial market data for operations such as lending, trading, and risk management.
Data feeds offer several benefits such as high-quality data, secure nodes, and decentralization.
Through this integration, Hedera developers gain access to price feed contracts for multiple assets, enabling a new wave of financial applications that connect traditional and digital markets.
However, Chainlink Proof of Reserve adds another layer of trust and transparency to the Hedera ecosystem. This feature brings real-time reserve verifications to tokenized assets, addressing critical security and accountability needs for DeFi projects. The decentralized approach eliminates vulnerabilities associated with centralized verification methods.
This capability allows applications on Hedera to integrate transparent collateralization checks, promoting trust among users and investors.
“By making the Chainlink standard available to our developer ecosystem, we can enable greater access to high-quality, tamper-proof data backed by decentralized infrastructure, which is crucial for building secure DeFi applications and scalable tokenized assets,” said Elaine Song , VP of Strategy at The HBAR Foundation, in a press release shared with BeInCrypto.
Furthermore, the rapid advancements in the Hedera ecosystem coincide with bullish activity in its native token, HBAR. Since November, HBAR’s market cap has increased by nearly 500%.
Hedera Hashgraph (HBAR) Price Performance. Source: TradingView
The surge was partly driven by Canary Capital’s announcement of the first HBAR ETF filing on Nov. 12. The ETF eschews derivatives and futures, opting for direct token holdings to simplify investor access.
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