{"id":185957,"date":"2021-04-03T02:00:12","date_gmt":"2021-04-03T01:00:12","guid":{"rendered":"https:\/\/cryptoslate.com\/?p=185957"},"modified":"2021-04-02T22:47:58","modified_gmt":"2021-04-02T21:47:58","slug":"chainlink-link-brings-its-price-oracles-to-polkadot-dot","status":"publish","type":"post","link":"https:\/\/cryptoslate.com\/chainlink-link-brings-its-price-oracles-to-polkadot-dot\/","title":{"rendered":"Chainlink (LINK) brings its price oracles to Polkadot (DOT)"},"content":{"rendered":"<p>Parachains based on Polkadot\u2019s (DOT) Substrate framework now can integrate Chainlink\u2019s (LINK) price oracles data feed in the form of a simple module, the companies <a href=\"https:\/\/polkadot.network\/chainlink-makes-oracle-pallet-available-to-all-substrate-polkadot-and-kusama-chains-2\/\">announced<\/a> today.<\/p>\n<blockquote><p>\u201cChainlink Price Feeds are now available as an oracle pallet to all Substrate, Polkadot, & Kusama chains. This gives teams building across the Polkadot ecosystem a standardized, easy-to-integrate, & time-tested oracle solution to support their DeFi apps,\u201d said the developers.<\/p><\/blockquote>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\"><a href=\"https:\/\/twitter.com\/hashtag\/Chainlink?src=hash&ref_src=twsrc%5Etfw\">#Chainlink<\/a> Price Feeds are now available as an oracle pallet to all <a href=\"https:\/\/twitter.com\/hashtag\/Substrate?src=hash&ref_src=twsrc%5Etfw\">#Substrate<\/a>, <a href=\"https:\/\/twitter.com\/hashtag\/Polkadot?src=hash&ref_src=twsrc%5Etfw\">#Polkadot<\/a>, & <a href=\"https:\/\/twitter.com\/hashtag\/Kusama?src=hash&ref_src=twsrc%5Etfw\">#Kusama<\/a> chains. This gives teams building across the Polkadot ecosystem a standardized, easy-to-integrate, & time-tested oracle solution to support their DeFi apps<a href=\"https:\/\/t.co\/Ak1vqQxlYk\">https:\/\/t.co\/Ak1vqQxlYk<\/a><\/p>\n<p>&mdash; Chainlink &#8211; Official Channel (@chainlink) <a href=\"https:\/\/twitter.com\/chainlink\/status\/1378000649829421067?ref_src=twsrc%5Etfw\">April 2, 2021<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>In the crypto world, price oracles are special applications that provide external data\u2014such as current prices of various digital assets\u2014to other blockchain projects. For example, such information is crucial for decentralized finance (DeFi) lending platforms.<\/p>\n<p>The new service was launched in the form of a module (or \u201cpallet\u201d) for the Substrate blockchain framework which includes <a href=\"http:\/\/cryptoslate.com\/coins\/polkadot\">Polkadot<\/a>, <a href=\"http:\/\/cryptoslate.com\/coins\/kusama\">Kusama<\/a>, and other independent blockchains built on it. As a result, various parachains now can integrate Chainlink\u2019s price oracles using a simple library.<\/p>\n<blockquote><p>\u201cChainlink Price Feeds will allow smart contract applications across the Polkadot ecosystem to access accurate, up-to-date and tamper-proof price reference data for powering new products and markets,\u201d the announcement added.<\/p><\/blockquote>\n<figure id=\"attachment_185964\" aria-describedby=\"caption-attachment-185964\" style=\"width: 1600px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-185964\" src=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2021\/04\/polkadot-chainlink-pallet.png\" alt=\"Chainlink's price oracles\" width=\"1600\" height=\"850\" srcset=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2021\/04\/polkadot-chainlink-pallet.png 1600w, https:\/\/cryptoslate.com\/wp-content\/uploads\/2021\/04\/polkadot-chainlink-pallet-300x159.png 300w, https:\/\/cryptoslate.com\/wp-content\/uploads\/2021\/04\/polkadot-chainlink-pallet-1024x544.png 1024w, https:\/\/cryptoslate.com\/wp-content\/uploads\/2021\/04\/polkadot-chainlink-pallet-768x408.png 768w, https:\/\/cryptoslate.com\/wp-content\/uploads\/2021\/04\/polkadot-chainlink-pallet-1536x816.png 1536w\" sizes=\"(max-width: 1600px) 100vw, 1600px\" \/><figcaption id=\"caption-attachment-185964\" class=\"wp-caption-text\">Chainlink's price oracles. Image: Polkadot<\/figcaption><\/figure>\n<p>Notably, parachain developers can choose whether to integrate the oracles\u2019 data feed on a case-by-case basis. This is in contrast to Ethereum, where Chainlink nodes are just constantly adding price data to each block. This way, Substrate-based parachains will be able to save some block space if they don\u2019t actually need the oracles' data.<\/p>\n<p>Among the main advantages of Chainlink Price Feeds, the developers highlighted the quality of its data, decentralized infrastructure, strong security, and cost-efficiency.<\/p>\n<p>\u201cBy [releasing Chainlink Price Feeds pallet], we can rapidly accelerate DeFi development within the Polkadot ecosystem, while maintaining the highest security and data quality requirements to ensure its growing suite of DeFi projects run in a precise, tamperproof and hyper-reliable manner,\u201d Daniel Kochis, head of business development at Chainlink, concluded.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Parachains based on Polkadot\u2019s (DOT) Substrate framework now can integrate Chainlink\u2019s (LINK) price oracles data feed in the form of a simple module, the companies announced today. \u201cChainlink Price Feeds are now available as an oracle pallet to all Substrate, Polkadot, &#038; Kusama chains. This gives teams building across the Polkadot ecosystem a standardized, easy-to-integrate, [&hellip;]<\/p>\n","protected":false},"author":472,"featured_media":185977,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[46940,37],"tags":[67749,61059],"post_folder":[],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v21.9 (Yoast SEO v21.9.1) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Chainlink (LINK) brings its price oracles to Polkadot (DOT)<\/title>\n<meta name=\"description\" content=\"Parachains on the Polkadot network can now access Chainlink&#039;s &quot;wide range of high-quality, time-tested on-chain price feeds.&quot;\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cryptoslate.com\/chainlink-link-brings-its-price-oracles-to-polkadot-dot\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Chainlink (LINK) brings its price oracles to Polkadot (DOT)\" \/>\n<meta property=\"og:description\" content=\"Parachains on the Polkadot network can now access Chainlink&#039;s &quot;wide range of high-quality, time-tested on-chain price feeds.&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/cryptoslate.com\/chainlink-link-brings-its-price-oracles-to-polkadot-dot\/\" \/>\n<meta property=\"og:site_name\" content=\"CryptoSlate\" \/>\n<meta property=\"article:published_time\" content=\"2021-04-03T01:00:12+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2021-04-02T21:47:58+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2021\/04\/chainlink-polkadot.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"630\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Liam Frost\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cryptoslate\" \/>\n<meta name=\"twitter:site\" content=\"@cryptoslate\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Liam Frost\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"NewsArticle\",\"@id\":\"https:\/\/cryptoslate.com\/chainlink-link-brings-its-price-oracles-to-polkadot-dot\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/cryptoslate.com\/chainlink-link-brings-its-price-oracles-to-polkadot-dot\/\"},\"author\":{\"@type\":\"Person\",\"@id\":\"https:\/\/cryptoslate.com\/author\/liam-frost\/#person\",\"name\":\"Liam Frost\",\"url\":\"https:\/\/cryptoslate.com\/author\/liam-frost\/\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/cryptoslate.com\/author\/liam-frost\/\"},\"image\":{\"@type\":\"ImageObject\",\"@id\":\"https:\/\/cryptoslate.com\/author\/liam-frost\/#authorimage\",\"url\":\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2021\/03\/author-liam-frost-300x300.jpg\",\"contentUrl\":\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2021\/03\/author-liam-frost-300x300.jpg\",\"caption\":\"Liam Frost\"},\"jobTitle\":\"Reporter\",\"description\":\"Liam Frost is a freelance journalist and editor with over 15 years of experience working for various media outlets across the world. 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