Matic Network, a smart-contract platform acting as both a layer one and layer two for Ethereum, announced on Thursday the full launch of five Chainlink price feeds that are set to power its ecosystem.
Though there are many promised or existing Chainlink integrations outside of Ethereum, the majority of them are still in development or are indirectly using Ethereum feeds.
Chainlink's Verifiable Randomness Function is set to be integrated soon as well, which would allow Matic app developers to build provably fair chance games or other integrations.
The team said that the integration will be crucial for decentralized finance developers wishing to build on Matic, pointing to several projects, such as EasyFi and PlotX, that already committed to using Chainlink oracles.
"The viability of Plasma for DeFi is a hotly debated topic but there is no other Plasma implementation in production apart from Matic. And turns out that in production it works fine and has not encountered any issues after 4+ months of launch of mainnet."
He argued that the flexibility of Matic, letting developers choose between Plasma and proof-of-stake, can entice different types of developers.
Like other layer-two solutions, Matic supports Ethereum tooling and allows developers to "Simply pick up their Ethereum smart contracts and deploy it on Matic sidechains within a matter of minutes," Nailwal said.
While Matic has been somewhat left out of mainstream comparisons, direct support from Chainlink can strongly contribute to further adoption.
"We believe Chainlink's decision to build on Matic was rationalized on the basis of where the greatest demand for its services lies," Nailwal continued.
The number of prediction markets building on the platform, which have a particularly pronounced need for reliable price information, likely contributed to the decision to integrate Matic, he concluded.
Bitcoin price drop in 3, 2...1? Fear & Greed Index nears dangerous record high
gepubliceerd op Nov 19, 2020
by Cointele | gepubliceerd op Coinage
Blockchain Bites: Bitcoin's Run, Uniswap's Hemorrhaging Value, Anchorage's Banking Bid
Bitcoin is nearing all-time highs in price and market cap last set three years ago.
Japan's megabanks to lead experiment with digital yen
We have, in order, Cheese Bank with a $3.3 million theft, Akropolis with its $2 million loss, Value DeFi with a whopping $6 million exploit and finally Origin Protocol's loss of $7 million.
Number of new Bitcoin addresses spikes amid growing FOMO
Japan's three largest banks, as part of a group of 30 private sector actors, are set to collaborate on an experiment with a digital yen.
Not just Wall Street: Quant trader explains why Bitcoin price is going up
Sam Trabucco, a quantitative trader at Alameda Research, believes four general factors are pushing up the price of Bitcoin.