DeFi
Chainlink Data Feeds Now Live on Starknet, Accelerating DeFi Development and Ecosystem Adoption Through Chainlink SCALE Program
Starknet Developers Can Now Build Highly Scalable and Secure DeFi Applications
SAN FRANCISCO, July 11, 2024 /PRNewswire/ — Chain linkthe industry standard decentralized computing platform, and Starknetthe secure scaling technology that brings the benefits of Ethereum to the world, today announced that Chainlink Data Feedthe industry-leading data solution for DeFi, is now live on Starknet mainnet.
The addition of data feeds provides support for developers building highly scalable and secure DeFi applications on Starknet
Starknet is an ecosystem that helps developers overcome Ethereum’s scalability limitations while ensuring computational integrity. The addition of data feeds provides support for developers building highly scalable and secure DeFi applications on Starknet. The integration will help accelerate the growth of the Starknet ecosystem and scale DeFi on Ethereum, without compromising composability or security.
“We are excited to support the Starknet ecosystem with the native integration of Chainlink Data Feeds, enabling developers to build highly secure and scalable DeFi applications,” said Johann Eid, Chief Commercial Officer at Chainlink Labs. “With hyper-reliable, accurate, and decentralized market data accessible natively on-chain, developers can build next-generation applications on Starknet.”
Starknet previously joined Chainlink SCALE will benefit from enhanced access to Chainlink services and accelerate ecosystem growth and application development on its ecosystem. As part of the Chainlink SCALE program, the Starknet Foundation is covering certain operating costs of Chainlink oracle nodes, providing Starknet developers with access to Chainlink data feeds at a low cost. This strategic partnership has established an attractive landscape for Starknet developers by providing a data-rich, low-cost environment to build high-performance, increasingly complex, and secure smart contract applications.
Starknet is a permissionless Validity-Rollup on Ethereum that allows dApps to securely achieve massive computational scale. However, as is the case with all blockchain environments, smart contracts cannot natively access external data. Chainlink solves this problem by bringing highly accurate market data on-chain in a highly secure manner.
“We are excited to bring industry-standard Chainlink data feeds to Starknet,” said Diego Oliva, CEO of the Starknet Foundation. “By providing Starknet developers with highly secure, reliable, and accurate data, we will unlock a multitude of advanced DeFi use cases and drive adoption of the Starknet ecosystem.”
As the most widely adopted price data standard on Web3, Chainlink is already helping to secure major Challenge protocols responsible for tens of billions of dollars in smart contract value, maintaining robust security and high availability even in the face of unexpected events, such as exchange downtime, flash outages, and Data manipulation attacks via flash loansChainlink data feeds have powered over $12 trillion in transactions since the beginning of 2022 and have delivered over 12 billion data points securely on-chain. The combined advantages of Starknet and Chainlink enable hyper-scalable, highly secure, and reliable DeFi applications that will help drive mass adoption of DeFi and scaling of Ethereum.
About the Starknet Foundation
The Starknet Foundation is a non-profit organization that is the custodian of the Starknet ecosystem, a fast and scalable L2 based on secure and scalable ZK-STARK technology. Driven by the mission of creating a digital world built with integrity, trust, and transparency at its core, the Foundation oversees the continued development, growth, and adoption of the ecosystem through a wide range of programs and partnerships aimed at creating a highly engaged community of developers, founders, and users. To learn more, visit starknet.io
About Chainlink
Chainlink is the industry-standard decentralized computing platform powering the Verifiable Web. Chainlink has enabled over $12 trillion in transactions by providing financial institutions, startups, and developers worldwide with access to real-world data, off-chain computation, and secure cross-chain interoperability on any blockchain. Chainlink powers verifiable applications and high-integrity marketplaces for banking, DeFi, global commerce, gaming, and other major industries.
To learn more about Chainlink, visit chain link or by reading the developer documentation on docs.chain.link.
SOURCE Chainlink; Starknet Foundation