Solana blockchain has just partnered with Chainlink which is a decentralized oracle solution in order to create faster oracles. Let’s find out more about their partnership in our Chainlink news below.
The Solana blockchain is a layer-one blockchain solution that does more than 60,000 TPS without sharding. The blockchain partnered with Chainlink to build an oracle that will update quickly. The CEO of Solana and founder Anatoly Yakovenko explained:
‘’We recently saw market failures due to congestion on Ethereum, including oracle failures. What we’re building with Chainlink is a high-frequency oracle that can give a price update every 400 milliseconds — and because of our capacity, we shouldn’t see those kinds of market failures on our network. It’s solving a fundamental problem that we see in the decentralized exchange space. We are scaling with hardware with Moore’s Law. We’re like a non-sharded layer-one that’s ridiculously scaled.’’
Chainlink os one of the best blockchain solutions and offers ‘’price reference contracts’’ which are a group of decentralized oracle networks that secure more than 25 DeFi price feeds such as ETH/BCH, ETH/USD, CHF/USD. The contracts are pegged by about 7 out of 30 independent and Sybil resistant nodes. Also in the recent Chainlink news, Chainlink presents a new partnership right after it postponed its Smart Contract summit in a way to protect the health interests of the speakers in the community, making it their number one priority. A future date and time were to be decided, and the company already agreed to provide a full refund on all the tickets.
The markets are getting smashed constantly after the many recent attempts from the high global government policymakers to dampen the concerns over the coronavirus and the economic implications. The stock market crashed further while Bitocin had a dramatic collapse as well, lowering by $1,800 in just half an hour. The rest of the crypto market is in red by all eyes are now on Chainlink’s LINK token which flashed crashed and almost reached a zero. However, the cryptocurrency managed to recover and is continuously gaining traction and attention from the crypto community.
Just a day ago, the price of the altcoin skyrocketed by 18 percent in just 24 hours along with the Tezos XTZ coin.