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Chainlink launches Data Streams product on Avalanche Network

Must Read

  • Chainlink launches Knowledge Streams on Avalanche to boost real-time information entry.
  • Knowledge Streams introduces pull-based oracles for low-latency information retrieval.
  • The brand new product provides to the increasing vary of Chainlink’s product choices.

Chainlink has launched an modern product dubbed Knowledge Streams on the Avalanche Community in partnership with GMX, a perpetual futures buying and selling platform. This new product goals to revolutionize information dealing with for decentralized purposes like GMX.

By leveraging Chainlink’s cutting-edge Knowledge Streams, GMX will present real-time, high-frequency market information important for its decentralized futures trade.

Chainlink’s Knowledge Streams introduces a “pull-based” mannequin

Chainlink’s Knowledge Streams diverge from its conventional “push-based” oracle programs, which routinely replace information onchain at set intervals or when particular parameters are met. As an alternative, the Knowledge Streams product employs a “pull-based” mannequin that retrieves offchain market information on demand with minimal latency.

The standard push-based oracles are well-suited for quite a few purposes, however they’ll fall brief in situations requiring speedy information updates. In distinction, the pull-based mannequin of Knowledge Streams ensures that information is verified onchain solely when mandatory, reminiscent of through the execution of a commerce.

The pull-based method is especially useful for platforms like GMX, the place merchants require on the spot entry to uncooked, high-frequency worth information.

The brand new mannequin not solely enhances the velocity and effectivity of knowledge retrieval but additionally maintains the high-security requirements important for onchain finance.

Johann Eid, Chief Enterprise Officer at Chainlink Labs, emphasised the benefits of this new know-how stating that by providing unmatched velocity and resiliency, Knowledge Streams allow DeFi protocols to supply ultra-fast, high-throughput DeFi merchandise whereas sustaining the high-security ensures of onchain finance.

Chainlink is frequently increasing its product choices

The deployment of Knowledge Streams on the Avalanche Community is a part of Chainlink’s broader technique to broaden its product choices throughout the blockchain panorama in 2024.

Earlier this 12 months, Chainlink introduced an integration with Celo to supply the Ethereum layer-2 community with its CCIP Interoperability Protocol.

Moreover, Chainlink’s Automation options and CCIP protocol had been launched on the Gnosis community, enabling customers to dump heavy computing duties to the Chainlink community, probably lowering fuel charges by as much as 90%.

Chainlink can also be making strides in asset tokenization. A notable partnership with Arta TechFin, a Hong Kong-based asset administration agency, was introduced to tokenize actual property, a historically illiquid asset class. The partnership will decrease transaction prices and unlock liquidity, making business actual property funding accessible to a broader vary of traders.

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