Chainlink Goes Live on Moonbeam for Price Data Service

Chainlink Goes Live on Moonbeam

Chainlink has deployed its Chainlink Price Feeds service on Polkadot-based parachain Moonbeam to offer data to network developers.

Moonbeam founder Derek Yoo maintains that access to off-chain asset prices has many use cases in decentralized finance, but manipulating price data was not easily achievable.

The executive believes that the platform could solve the issue and promote DeFi developers within the ecosystem. Yoo sees Chainlink integration as most needed for a complete building block set for Moonbeam DeFi developers.

Chainlink’s executive Niki Ariyasinghe says he has expressed support for Moonbeam developers. Ariyasinghe adds that the deployment on Polkadot will enable developers to develop new use cases in the interconnected DeFi platforms.

The blockchain has announced that its LINK staking will be finalized in the project’s Chainlink Economics 2.0. The step is expected to allow participants to support the Chainlink network with LINK tokens to enhance crypto-economic security.

The news follows Chainlink’s acquisition of Chainlink Keepers and Chainlink Verifiable Random Function to the Avalanche network. The partnership will reportedly offer automated smart contracts.

Source: Cointelegraph

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