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Chainlink oracle network integrated into smart contract platform Moonriver » CryptoNinjas

Moonbeam, an Ethereum-compatible smart contract platform on Polkadot, has now introduced the mainnet integration of Chainlink Price Feeds on Moonriver.

Developers can now leverage Chainlink’s oracle performance on Moonriver to construct DeFi smart contracts utilizing exterior knowledge sources and off-chain computations—all with out leaving the Kusama ecosystem. Moonriver is a parachain on the Kusama network and sister network of Moonbeam. Moonriver offers smart contract builders a take a look at setting to deploy new code underneath actual financial circumstances.

Besides, Moonriver is suitable with present Ethereum toolsets and networks, together with a full EVM implementation, a Web3-compatible API, and bridges that join Moonriver to present Ethereum networks. This permits devs to deploy present Solidity smart contracts and dApp frontends to Moonriver with minimal modifications, whereas customers can entry Moonriver dApps on acquainted wallets like MetaMask. 

Chainlink Price Feeds are on-chain price reference contracts powered by decentralized oracle networks. Each decentralized oracle network is made up of quite a few Sybil-resistant node operators, which supply costs from knowledge aggregators to generate correct market costs which might be backed by huge market protection and infrastructure with out single factors of failure.

The integration of Chainlink Price Feeds on Moonbeam offers builders with key options wanted for DeFi apps, together with:

  • High-Quality Data: Price knowledge is sourced from premium off-chain knowledge aggregators, permitting customers to mitigate dangers from sure sorts of flash mortgage assaults as every price level displays a volume-adjusted combination from all buying and selling environments versus a single trade.
  • Secure Oracle Nodes: Oracle networks are made up of unbiased, security-reviewed nodes run by main safety and blockchain DevOps groups, defending customers in opposition to Sybil and other forms of infrastructure assaults.
  • Decentralized Computation: Each Price Feed is decentralized on the oracle and knowledge supply stage, resulting in extremely out there and manipulation-resistant knowledge and oracle companies.
  • Proven Oracle Infrastructure: Chainlink secures billions of {dollars} in worth for prime DeFi functions, proving its capacity to safe massive quantities of worth on MainNet.

Ultimately, the mixed advantages of Chainlink and Moonriver enable for highly-scalable, low-cost, EVM-compatible DeFi functions on Kusama which might be persistently in sync with international monetary markets. These apps can then be deployed on Moonbeam sooner or later on the Polkadot parachain ecosystem. 

“Smart contracts are by default insular, having only an ability to reference data that is already on the blockchain. Oracles extend the applicability of smart contracts by making data from the world available on-chain. Chainlink is the most widely adopted oracle and was a top requested integration from the protocol development teams deploying to Moonriver. We are excited to work with Chainlink to enable these teams to launch lending, borrowing, and other protocols that are a core part of the Moonriver DeFi ecosystem.”
– Derek Yoo, Founder of Moonbeam

Those can begin utilizing Chainlink Price Feeds on Kusama with Moonbeam’s developer docs.

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