Chainlink have to say that they are continuing to put more data on-chain so that smart contract developers will be able to build advanced DeFi Apps.
They have introduced the TUSD Proof of Reserve Oracle for the data on both its off-chain reserves & on-chain supply to ensure full collateralization of TUSD collateral.
The TUSD Blocksize Capital are Reserve Aggregation from Inotel, Kyber, Newroad, Omniscience, P2P.org, and Fiews.
In this regard, Sydney Ifergan, the crypto expert tweeted: “Oracles are fundamental to real-world adoption of smart contracts. ChainLink (LINK) are super ambitious about it.”
Chainlink Price Feeds are already securing billions in value for leading DeFi dApps. It is only practical for investors to start leveraging them in to the smart contracts by using their docs to find mainnet and testnet addresses of oracle networks which provide tamper-proof price data for all the top asset pairs.
ChainLink (LINK) Benefits for Bitcoin
ChainLink feels that they can help enhance Bitcoin’s value using ChainLink through WBTC and renBTC’s by adding security from Proof of Reserve and oracle services for Bitcoin secured networks like RSKsmart and Blockstack and the ability to trigger and verify cross-chain BTC transactions.
Externally connected smart contracts are the key to growing Bitcoin Adoption. Chainlink focuses on directly complementing Bitcoin’s capabilities by extending the value proposition without modifying the blockchain, thus permitting Bitcoin to maintain its unique properties related to security.
Innovative Dapps can be built by combining Chainlink, Bitcoin, and/or Bitcoin-secured smart contracts. These Dapps can help leverage properties which Bitcoin blockchain provides. The properties can particularly serve as a store of value facilitating medium of exchange providing for a form of collateral in a decentralized computing network with extensive hashing power.
ChainLink provides several value additions to the Bitcoin Network like providing on-chain price feeds and datasets about BTC, smart contracts with on-demand data about collateralization of BTC reserves like in WBTC and renBTC and protecting users against fractional reserve practices.
ChainLink also provides off chain data along with several other oracle services to expand Bitcoin as a conditional settlement layer. Permits smart contracts on any blockchain to trigger and track the payments on the Bitcoin blockchain as a mechanism to enable automated physical settlement in BTC which is triggered from an external blockchain network.
ChainLink (LINK) Integrations
SynLev, synthetic leveraged asset pairs tokenized on Etheruem, is using ChainLink Price Feeds live on mainnet to obtain fair market valuations on the underlying assets. Chainlink ensures these assets are accurately priced in a decentralized manner.
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