By Solomon Odunayo
ChainLink has recently welcomed OpenLaw, the commercial operating system for blockchain, into its ecosystem to use and support ETH/USD price reference data live on mainnet.
This new development was shared via ChainLink’s official Twitter handle a few hours ago.
This adds to the number of achievements recorded by ChainLink since the start of 2020. And the cryptographic project has been using these developments as a means to further showcase its utility in serving as the oracle of choice.
ChainLink shared this, “Welcome OpenLaw to the Chainlink ecosystem! They are using & supporting the ETH/USD price reference contract live on mainnet.”
Welcome @OpenLawOfficial to the Chainlink ecosystem! They are using & supporting the ETH/USD price reference contract live on mainnet. Stay tuned for more details. https://t.co/gRi1lbwuKV pic.twitter.com/0pFkRLCFX9
— Chainlink – Official Channel (@chainlink) February 26, 2020
Nexus Mutual Joins ChainLink to Support DAI/ETH Price Reference Contract Live On Mainnet
ChainLink (LINK) had welcomed Nexus Mutual, a people-powered alternative to insurance on Ethereum blockchain, into its ecosystem on 25th February 2020 to use and support DAI/ETH price reference contract live on mainnet.
ChainLink wrote this, “Welcome NexusMutual to the Chainlink ecosystem! They are using & supporting the DAI/ETH price reference contract live on mainnet. The price feed helps with rebalancing the capital pools.”
Welcome @NexusMutual to the Chainlink ecosystem! They are using & supporting the DAI/ETH price reference contract live on mainnet. The price feed helps with rebalancing the capital pools. Stay tuned for a future blog post with more details. https://t.co/qYvyXJW7z6 pic.twitter.com/1wGAK0IgVQ
— Chainlink – Official Channel (@chainlink) February 25, 2020
ChainLink to Bring Improvement to Polkadot’s Utility
Smart contracts bring about a new pattern of financial utility via the use of standardized consensus and modernized technology.
However, this functionality would fail to fulfill its designated purpose if the data integrity within the smart contract is not properly protected.
So, the integration of ChainLink into Polkadot has the capability to unlock a host of use cases. This is already in use on Ethereum as DeFi leverages efficiency embedded in ChainLink to use price feeds with duly maintained integrity.
The integration of ChainLink into Polkadot is a relationship expected to bring about mutual benefit to both parties. ChainLink (LINK) will gain more users, while Polkadot gets trustworthy price feeds.