Lendingblock Integrates Chainlink For Decentralized Pricing Data
Lendingblock, a cryptocurrency lending and borrowing platform, has successfully completed its integration of Chainlink’s industry-leading decentralized oracle network. Specifically, Lendingblock is now using Chainlink Price Feeds, which provide critical, real-time market pricing data around hundreds of assets. Chainlink’s high-quality market data helps ensure Lendingblock’s backend pricing mechanism reflects accurate fair-market rates and that its critical loan lifecycle processes, such as asset value reporting and liquidations, are tamper-proof.
The Lendingblock team chose to integrate Chainlink decentralized oracles due to their reputation as a market leader in decentralized data provision. A unique benefit of Chainlink Price Feeds is that they feature multiple layers of decentralization to greatly mitigate risks associated with using pricing data from a single centralized source. Moreover, Chainlink is well known for securing leading CeFi and DeFi platforms across multiple blockchains, with its Total Value Secured (TVS) recently surpassing 75B+.
About Lendingblock
Lendingblock is a cryptocurrency lending and borrowing platform formed in 2018. With the initial focus on building a lending and borrowing exchange for institutional clients, Lendingblock now offers use of its proprietary technology under SaaS and licencing agreements, with the first of such licencing agreements announced in 2021 with the Eqonex Group (NASDAQ listed digital asset exchange, formerly known as Diginex). In October 2021, Lendingblock launched its retail lending and borrowing platform, empowering individuals to earn interest on or borrow against their cryptocurrency holdings using an institutional-grade platform.
About Chainlink
Chainlink is the industry standard for building, accessing, and selling oracle services needed to power hybrid smart contracts on any blockchain. Chainlink oracle networks provide smart contracts with a way to reliably connect to any external API and leverage secure off-chain computations for enabling feature-rich applications. Chainlink currently secures tens of billions of dollars across DeFi, insurance, gaming, and other major industries, and offers global enterprises and leading data providers a universal gateway to all blockchains.
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https://www.lendingblock.com/post/lendingblock-integrates-chainlink-for-decentralized-pricing-data
