PocketPay is Integrating Chainlink Price Feeds for High-Quality Price Data
PocketPay, a cutting-edge Solana mobile wallet supercharged by SolanaPay to feature eCommerce functionality, is integrating Chainlink Price Feeds to offer its users high-speed price updates in PocketPay, its Solana–based wallet.
Through this integration, PocketPay will be able to access high-quality price feeds for SOL and Solana’s SPL tokens at high speed, enabling them to provide their users with enhanced pricing accuracy.
PocketPay chose Chainlink because it is the most widely used and time-tested decentralized oracle network in the blockchain ecosystem.
The Chainlink Network maintains superior security and availability even in the face of unexpected events such as exchange downtime, flash crashes, and data manipulation attacks via flash loans. Offering a wide range of off-chain data and computation services, Chainlink already helps secure tens of billions of dollars in smart contract value for leading DeFi protocols.
PocketPay is a non-custodial smart mobile wallet that lets users access the world of DeFi and dApps directly on the fast and reliable Solana blockchain. With the native ability to store Solana-based assets/SPL tokens, Pocketpay makes transacting smooth, secure, and painless. Currently, the mobile wallet is available on Android and iOS devices, with web and browser extensions in development.
In order to provide accurate asset prices on PocketPay, they needed access to a secure and fast oracle solution. Volume-weighted price data aggregated from a multitude of high-quality sources gives users high assurances that they are operating off of fair-market prices when making important decisions on transactions.
PocketPay chose to use Chainlink Price Feeds because of their superior features in security, reliability, and decentralization.
Specific benefits that stood out include:
● High-Quality Data — Chainlink Price Feeds source data from numerous premium data aggregators, leading to price data that’s aggregated from hundreds of exchanges, weighted by volume, and cleaned from outliers and suspicious volumes. Chainlink’s data aggregation model generates more precise global market prices that are resistant to API downtime, flash crash outliers, and data manipulation attacks like flash loans.
● Secure Node Operators — Chainlink Price Feeds are secured by independent, security-reviewed, and Sybil-resistant oracle nodes run by leading blockchain DevOps teams, data providers, and traditional enterprises with a strong track record for reliability, even during high gas prices and extreme network congestion.
● Decentralized Network — Chainlink Price Feeds are decentralized at the data source, oracle node, and oracle network levels, generating strong protections against downtime and tampering by either the data provider or the oracle network.
● Transparency — Chainlink provides a robust reputation framework and set of on-chain monitoring tools that allow users to independently verify the historical performance of node operators and oracle networks, as well as check the real-time prices being offered.
— Yogesh Trivedi, CEO of PocketPay Finance.
“By natively integrating Chainlink Price Feeds into the PocketPay wallet, we’re giving our users access to accurate price feeds regarding SOL and SPL tokens. Portfolio tracking is an important feature of wallets, and by using aggregated market data from Chainlink, users will have access to the most accurate prices on the market — setting up PocketPay as a premium wallet offering on Solana.”
About Chainlink
Chainlink is the industry standard for building, accessing, and selling oracle services needed to power hybrid smart contracts on any blockchain.
About PocketPay Finance
PocketPay is a mobile wallet built on Solana Blockchain and completely integrated with SolanaPay payment solutions. User can transact SOL, USDC, and all SPL tokens, store NFTs, explore the world of DAPPS and use SolanaPay to make real-time payments offline and online.
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