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Chainlink's decentralized oracle network (LINK) has integrated a service called Chainlink price Feeds to Moonbeam, a form of parachain Smart contract on Polkadot (DOT) that provides data to developers in the platform.
In a statement to Cointelegraph, Chainlink's team noted that live streaming on Moonbeam could allow builders in the platform to access compiled price information as well as aggregates from a variety of trading platforms. This supports decentralized financial developers (DeFi) to bring price accuracy to their decentralized applications (DApps).
Moonbeam founder Derek Yoo has also mentioned that access to off-chain asset prices can have a lot of uses in DeFi, however it is difficult to gain resistance to attacks as well as manipulation of price data. However, moonbeam's founder believes chainlink can solve the problem and can help DeFi developers in their platform. He explained that:
This Chainlink integration is one of the last necessary integrations to be able to deliver entire building blocks to Moonbeam DeFi developers.
Niki Ariyasinghe, an executive at Chainlink, has also expressed their support for Moonbeam developers. Ariyasinghe emphasized that this integration could completely allow Polkadot developers to create new use situations in deFi platforms that are already connected to each other.
In early June, LINK's price broke the bearish trend with a valuation of up to $9 USD when their team announced a new Road Map. In addition, Chainlink also announced that LINK Staking will be included in chainlink economics 2.0 of the project. This will allow people to participate in supporting the Chainlink network with link tokens, while allowing it to enhance "cryptocurrency economic security".
Last week, Chainlink integrated Chainlink Keepers as well as chainlink Verifiable Random Function (VRF) into the Avalanche (AVAX) network. This integration has brought automated smart contracts and verified random number generators to DApps built on the Avalanche. Ava Labs founder Emin Gün Sirer says this will simplify the experience of both developers and users.
