Kava’s Defi Platform Labs have recently integrated Chainlink Oracle Data to Cosmos. Kava’s required reliable data; however, there were no oracle providers in the cosmos ecosystem, which adequately met the requirements of Defi. Therefore, Kava Labs have brought in ChainLink Oracle Data to Cosmos.
Defi applications require market data facilitated by an oracle to execute their transactions. The reliability of DeFi applications gets determined by the quality of the financial market data they use. Free APIs are not capable of providing the same level of price accuracy and reliability.
Kava has chosen ChainLink as it is the only oracle solution that makes use of external adapters to call the data from centralized APIs. External adapters permit ChainLink nodes to access password-protected data, which is a standard feature with all premium data providers. Data from respected data aggregators are thus made available to financial institutions. Chainlink provides for market coverage, credential management capabilities; therefore, it is used to establish the high standard data for the entire Cosmos DeFi ecosystem.
Reportedly, all of the Chainlink nodes which are providing data to Kava have had rigorous security review, and several of them also make up Kava’s own core node operators.
Sydney Ifergan, the crypto expert, tweeted: “ChainLink (LINK) facilitates reliable, high-quality data from several nodes contributing to the best quality-price reference charts. ChainLink keeps winning.”
Blockchains make a true and false decision based on the data they make use of; therefore, it is crucial to ensure the data is of high quality, and ChainLink is the best in the deal for reliable data. Serious DeFi projects would not overlook ChainLink or ignore it.
Chainlink Kadena (KDA)
Kadena (KDA) provides the fastest, safest, and most scalable hybrid blockchain technology stack for entrepreneurs. They provide for smarter contracts and scaling proof of work securely.
Kadena tweeted: “We are excited to announce that Kadena is working together with chainlink to integrate its market-leading decentralized oracle network. This will be an industry first in deploying oracles to a public/private hybrid blockchain platform.”
Of note, hybrid blockchains are considered to be smart hack towards adoption, which combines the offerings from public and private networks.
Next in the line to Kava and Kadena is the Kakao, the blockchain project of Korea’s Internet Giant. This is a big turning point for ChainLink as Kakao is in every Korean smartphones – probably going to win hands down.
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