Hedera Aims to Enhance DeFi and RWA Capabilities With Chainlink Data Integration
- Hedera integrates Chainlink Data Feeds and Proof of Reserve to enhance DeFi and RWA capabilities.
- Chainlink’s decentralized oracle infrastructure ensures secure, tamper-proof data delivery.
- The HBAR Foundation joins Chainlink Scale to strengthen developer access to oracle services.
Hedera has announced an integration with Chainlink’s decentralized data infrastructure, bringing advanced capabilities to its network. This collaboration aims to enhance decentralized finance (DeFi) applications and the adoption of tokenized real-world assets (RWAs).
Developers on Hedera now have seamless access to on-chain data essential for building secure and scalable applications.
Hedera Leverages Chainlink Data Feeds
Hedera’s integration of Chainlink data feeds equips its 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 critical for DeFi protocols, which require real-time financial market data for operations such as lending, trading, and risk management.
The data feeds offer several key benefits, such as high-quality data, secure nodes, and decentralization.
Through this integration, Hedera developers gain access to price feed contracts for diverse assets, enabling a new wave of financial applications that bridge traditional and digital markets.
Chainlink Proof of Reserve adds another layer of trust and transparency to Hedera’s ecosystem. This feature brings real-time reserve verifications for tokenized assets, addressing critical security and accountability needs for DeFi projects. The decentralized approach eliminates vulnerabilities associated with centralized verification methods.
This capability empowers applications on Hedera to integrate transparent collateralization checks, fostering confidence among users and investors.
“By making the Chainlink standard available to our developer ecosystem, we can enable increased access to high-quality, tamper-proof data backed by decentralized infrastructure, which is mission-critical for building secure DeFi applications and scalable tokenized assets,” Elaine Song, VP of Strategy at The HBAR Foundation said in a press release shared with BeInCrypto.
The Hedera ecosystem’s rapid advancements coincide with bullish activity in its native token, HBAR. Since November, HBAR’s market value has surged by nearly 500%.
The surge was partly fueled by the announcement of the first HBAR exchange-traded fund (ETF) filing by Canary Capital on November 12. The ETF avoids derivatives and futures, opting for direct token holdings to streamline investor access.
eToro
Explore
Coinrule
Explore
Uphold
Explore
Coinbase
Explore
3Commas
Explore
eToro
Coinrule
Uphold
Coinbase
3Commas
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
Most Discussed
- 1
- 2
- 3
- 4
- 5
- 6
- 7
- 8
- 9
- 10