LayerZero Integrates Chainlink Oracles

Published on: 01.12.2022
LayerZero Integrates Chainlink Oracles

LayerZero Integrates Chainlink Oracles, they integrated into the open and permissionless network of Oracles and Relayers which secure cross-chain messaging across LayerZero.

With the advent of LayerZero, applications can finally be built everywhere, utilizing each chain’s best features, and ushering in a new era of applications: Omnichain dApps. As LayerZero Integrates Chainlink Oracles

Chainlink Oracles

  • Reliable Infrastructure — Chainlink oracles create redundancies to ensure oracle services are highly available, manipulation resistant, and precise.
  • Secure Oracles — Chainlink offers a large pool of security-reviewed, Sybil-resistant node operators run by professional DevOps teams with a long track record of reliability even during unexpected on-chain and off-chain conditions.
  • Transparent Monitoring — Robust, publicly available reputation frameworks and on-chain monitoring tools allow users to independently verify the historical performance of node operators and oracle networks, as well as check the real-time prices being offered.
  • Universal Connectivity — Chainlink is permissionless, open-source infrastructure that is blockchain and API agnostic, enabling bidirectional communication between any blockchain environment, as well as triggering from any dApps or off-chain API.

This integration will enable:

  1. Universal Decentralized Finance
  2. Unlock Liquidity — Utilize your isolated assets to yield farm any pool on any blockchain environment.
  3. Multi-chain lending and borrowing — Lend and borrow assets across chains.
  4. Derivatives for every asset — Create derivatives contracts for any previously siloed token or currency.
  5. Transaction Optimization — High-throughput and computationally intensive dApps can offload their expensive transactions to a more cost-effective blockchain environment.
  6. Determine State — Easily verify the state of any blockchain or layer-2 system from a different blockchain.

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About LayerZero

LayerZero is an omnichain interoperability protocol that allows dApps to build across multiple blockchains in a trustless, efficient manner. LayerZero connects dApps across chains using on-chain Ultra Light Nodes, which achieve the security of a light node with the cost-effectiveness of a middle-chain. Using the protocol, developers can turn their dApps into omnichain-applications using a single, simple interface.

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SOURCE: MEDIUM
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