On the 15th of September, Chainlink, via its official Twitter account, announced that Arbitrum developers can now leverage Chainlink price feeds to secure their DApps with high-quality price data. With this integration, Arbitrum can now fully benefit from the features of the Oracle network.
Chainlink is the primary oracle option chosen by Arbitrum due to the infrastructure’s simplicity of incorporation. The fact that it has endured the test of time and continues to function flawlessly and precisely is another plus.
For complex smart contracts across any blockchain, Chainlink decentralized oracle platforms offer secured inputs, outputs, and calculations. In essence, this integration would give buyers considerable confidence that the market rates that are shown are always accurate and that they may make transactions while seeing the actual market condition.
Additionally, the entire cryptocurrency ecosystem trusts Chainlink, especially several of the top DeFi protocols that use smart contracts worth billions of dollars. Even in the face of unforeseeable circumstances like flash failures, exchange outages, and data alteration attempts, it retains its security and high reliability.
Although price fluctuations in the cryptocurrency market are regular, there are occasions when they are more pronounced than usual. During such periods, consumers require accessibility to a precise picture of the state of the market, which Chainlink price feeds provide instantaneously.
The vast open-source community that supports Chainlink’s network, which includes node operators, data producers, smart contract writers, security auditors, analysts, and others, has helped the platform expand into the enormous and indispensable data-gathering juggernaut that it is today. It was one of the first platforms to permit the incorporation of off-chain data into smart contracts, enabling the use of smart contracts for agreements involving subjects not related to the blockchain.
With these features in place, Chainlink has been attracting several crypto-based platforms with the more recent Arbitrum. These features will effectively attract more traders, and the adoption of Arbitrum will surely increase.
