In a press release issued on Friday, the major oracle supplier Chainlink stated that its pricing oracle networks had gone live on the Solana Mainnet.
As a result of this collaboration, developers on Solana will have access to seven distinct Chainlink price feeds, including those for the BTC/USD, ETH/USD, and USDC/USD trading pairs, to create enhanced decentralised apps (dApps) on the blockchain. Moreover, hundreds more new pricing streams will become accessible in the coming months.
Anatoly Yakovenko, co-founder of Solana, mentioned:
“Chainlink’s launch on Solana will give DeFi developers access to the most widely used oracles in blockchain.” “Solana’s high-speed blockchain can deliver high-frequency pricing data to dapps, enabling developers to build new DeFi dapps and products.”
Meanwhile, Sergey Nazarov, co-founder of Chainlink, mentioned:
By providing the most reliable and highest quality data to the already lightning fast Solana blockchain, the Chainlink integration with Solana is a major leap forward for the kind of scalable, institutional-grade, DeFi applications that can be built only on Solana.”
In the following months, Chainlink is anticipated to provide Solana developers access to hundreds of more pricing feeds and databases and other popular Chainlink services.
Among these services are Proof of Reserve for asset attestation, Keepers for event-driven and time-based automation, and Verifiable Random Function (VRF) for randomisation, a service used by hundreds of teams to mint millions of NFTs equitably.
Later this year, Chainlink hopes to release the Cross-Chain Interoperability Protocol (CCIP), a new worldwide standard for decentralised inter-blockchain communications, data, and token transfers.
With CCIP, Solana users and developers will be able to transfer tokens and execute smart contracts across several blockchains via Chainlink oracle networks, facilitating the development of cross-chain apps.
Popular DeFi projects like Aave, Compound, and dYdX already use Chainlink’s data services. However, Chainlink’s activation on Solana makes it the network’s first non-EVM (non-Ethereum Virtual Machine) chain.
Chainlink is now the industry-leading solution for extremely precise and tamper-resistant market data and secure off-chain computations. Since its debut, the Chainlink Network has powered over 980 oracle networks and safely delivered over 2.6 billion data points to on-chain applications.
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