In order to boost the expansion of decentralized finance and tokenized real-world assets, Hedera has embraced Chainlink’s range of smart data products.
On December 16, the Hedera team said that Chainlink’s Proof of Reserve and Data Feeds were operational on the Hedera mainnet.
The integration seeks to support developers on the Hedera network by providing access to proof-of-reserve verification and high-quality data.
Hedera developers may now use this data technology for DeFi and tokenized RWA projects, the platform said in a blog post.
The recent significant collaboration between the HBAR Foundation and Chainlink, in which the latter joined the Chainlink Scale initiative, is followed by the merger of Hedera and Chainlink.
Chainlink’s decentralized infrastructure, safe node operations, and superior data aggregation will benefit developers. On-chain reserve data will also provide programmatic utility to users.
By making the Chainlink standard available to our developer ecosystem, we can enable increased access to high-quality, tamper-proof data backed by decentralized infrastructure, which is mission-critical for building secure DeFi applications and scalable tokenized assets.”
The HBAR Foundation’s vice president of strategy, Elaine Song Chainlink, has partnered with several traditional and cryptocurrency financial organizations due to its expanding position as a leader in on-chain finance and cross-chain interoperability.
Its Oracle network has secured more than $17 trillion in value through blockchain transactions. In addition to Hedera, additional significant DeFi protocols like Aave, Lido, and GMX are powered by Chainlink’s proof-of-reserve technology and data standards.
Conventional financial organizations such as ANZ Bank, Fidelity, Swift, and UBS also use Chainlink’s technology.
