Chainlink and Loopring Are Now "Partners in Crime" – Business Partnerships – Altcoin Buzz

Chainlink and Loopring will unite efforts and integrate oracles in v3 zkRollup DEX protocol.

Chainlink and Loopring are ready to offer new features. The relevant announcement appeared on the Twitter handles of both parties.

Their integration is all about creating a faithful LRC/ETH price feed for DEX owners to anchor their LRC economic security staking.

The mutual project will entail the following:

Working with Chainlink for v3s oracle requirements made perfect sense, and the process has been smooth and tailored to our use case. We will continue advancing the inherently aligned interests of exchange protocols and oracle networks. Both well aware that a system is only as secure as its weakest link. More than anything, we appreciate the fact that they are equally unwilling as us to compromise on security guarantees thats what stands out, says Daniel Wang, co-founder of Loopring.

The next integration step will aim at engaging more products and services. Such as more extensive types of orders where users need to follow price feeds for trading pairs to take action. And information on token prices for the Loopring Hebao wallet and DEX to set quotas for transactions. Besides,Looprings DEXs will supply reliable source data through the DEX browser.

For the uninitiated, Chainlink is an Oracle network. It functions as a bridge between smart contracts and offline applications to provide access to resources outside the network such as data channels, web interfaces, or retail payments. With the help of oracles, it rechecks real-world data and transfers it on-chain.

Loopring is a decentralized exchange protocol built on Ethereum. It shields its customers from counterparty risk and reduces the trading costs.

All in all, Chainlink is progressing. Recently, Altcoin Buzz covered the teams tour across Asia.

Read this article:
Chainlink and Loopring Are Now "Partners in Crime" - Business Partnerships - Altcoin Buzz

Related Post

Comments are closed.