Altcoins have significant partnerships that can give investors long-term hope. Chainlink, especially in data processing and presentation, has monopolized a significant part of crypto. Most DeFi platforms and more protocols use its services. Now Chainlink is expanding its service scope.
Chainlink News
The oracle network Chainlink has recently made a name for itself with its steps in the RWA field. By launching and gradually expanding its staking pool, it has taken a significant step by increasing token utility. The team, expected to succeed in blockchain-based data services in the long term and currently achieving good market dominance, is working for more.
The Data Streams product was launched on the Avalanche network. The decentralized and futures-enabled exchange GMX will be the first customer here. Thanks to the real-world market data provided by Data Streams, Chainlink will also power this protocol.
Data Streams offers off-chain market data with a “pull-based” oracle model. This allows the needed instant data to be quickly and easily provided to platforms like GMX. Chainlink Data Streams still verifies data on the network but only does so when necessary, such as when a transaction is actually carried out. The following graphic explains this.
Avalanche and Chainlink
This is not directly related to price. However, it may allow for more widespread DeFi and data feed projects in the Avalanche ecosystem in the long term. As a result, Chainlink diversifies its revenue sources while Avalanche offers developers more flexibility and better alternative infrastructures.
Chainlink Data Streams‘ usage on the Avalanche network prompted Johann Eid from Chainlink Labs to say;
“Data Streams, offering unique speed and flexibility, allows DeFi protocols to deliver ultra-fast, high-efficiency DeFi products while maintaining high security guarantees of on-chain finance.”
At the beginning of 2024, Chainlink started working on tokenized real estate with Hong Kong-based asset management company Arta TechFin. Financial giants see a very bright future in the tokenization of real-world assets, and Chainlink is trying to grow its share in this field with both CCIP and other products.
