Ripple has selected Chainlink's price feeds to power its decentralized finance (DeFi) applications, citing Chainlink's robust reputation, high-quality data, and decentralized network.
This will make it possible for decentralized finance (DeFi) applications to get the latest asset prices transparently and securely.
After considering various solutions, Ripple claims that it decided to stick with Chainlink's price feeds due to high-quality data, secure node operators, a robust reputation framework, and a high level of decentralization, which ensures that no one can actually control the Crypto Market to Experience Massive Correction, Arthur Hayes Predicts Chainlink operates via a decentralized network of oracles that fetch and verify data from various trusted sources such as cryptocurrency exchanges. The system verifies and averages the data, it determines the final price that gets sent to a smart contract. Other smart contracts can query price feed contracts to be able to get the latest price feed data. Such interactions are crucial for various decentralized finance (DeFi) applications. As reported by U.Today, Ripple's enterprise stablecoin was launched in December to a lot of fanfare. Recently, RLUSD recorded an abnormally high volume on the Bullish exchange, raising some eyebrows within the XRP community. In the meantime, Chainlink (LINK), the native token of the Chainlink network, is down more than 7% over the past 24 hours despite the Ripple announcement. Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be availabl
Chainlink Ripple Defi Price Feeds Cryptocurrency
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