Matic Launches Chainlink-Powered Feeds for ETH, USDT, DAI, and USDC

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Thu, 11/19/2020 - 17:18
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Alex Dovbnya
Matic has selected Chainlink as its decentralized oracle solution
Matic Launches Chainlink-Powered Feeds for ETH, USDT, DAI, and USDC
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According to a Nov. 19 announcement, the Matic Network has integrated Chainlink’s oracle feeds for five USD-denominated trading pairs with its native token, Ethereum, and three stablecoins (Dai, Tether, and USD Coin).    

LINK and MATIC are both up roughly four percent over the past 24 hours.  

Chainlink integrations keep piling up 

Chainlink allow its partners to obtain real-life data without relying on centralized solutions.
 
After integrating over 320 projects, it remains the dominant force in the mushrooming oracle space, with competitors in the likes of Band Protocol stepping on its toes. 

Matic names quality data, security, and transparency as the main reasons behind its choice: 

“The end result is highly available, accurate, manipulation resistant, and transparent oracle networks for getting any off-chain resource necessary for success.”

In late September, Chainlink’s decentralized oracle network became available for developers on the Matic mainnet that was launched back in June. 

Multiple Matic-powered DeFi projects, such as EasyFi and PlotX, have already adopted Chainlink’s solution.        

Matic
Image by blog.matic.network

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Decentralizing randomness

Matic, a Plasma-powered scalability solution that has made plenty of headlines because of its extremely volatile token, also plans to integrate Chainlink’s verifiable randomness function (VRF). 

The technology is mainly applied in blockchain gaming, allowing developers to create smart contracts that generate random outcomes.    

As reported by U.Today, Chainlink’s VRF made its debut on Ethereum mainnet with no-loss lottery PoolTogether.

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.