Karura, the decentralized financial parachain (DeFi) built by Acala for Kusama, will integrate the Chainlink Price Feed. Following the recent launch of Chainlink Oracle Pallet, this integration will allow Karura smart contract developers to benefit from accurate market data directly on the chain.
Chainlink Oracles To Keep The Ecosystem Safe
As the demand for smart contracts increases, Chainlink’s new modular oracle pallet is intended to power all projects in the Polkadot ecosystem, including parachains, substrate chains and Kusama-based parachains such as Karura, with reliable on-chain information and accurate financial market data.
As a sister chain to Acala, Karura aims to achieve the same goal in the Kusama ecosystem. Carrying out your own mission, Acala Foundation has announced the integration plan Chainlink price feed to Karura, the all-in-one DeFi pipeline by Kusama.
Karura will help non-native parachain teams and dApps seamlessly integrate the standardized Chainlink oracle pallet platform into runtime modules in any supported smart contract language for virtually any access external resources, in the real world.
Smart contract developers using the Kusama and Polkadot networks can leverage Chainlink pallets as a pricing data delivery solution tailored to their needs. All Chainlink Pricing Feeds are secure, tamper-proof, and deliver superior data quality by using multiple independent trials to qualify and get the same data point . Developers will save time and resources while avoiding the risks associated with using their own spells.
A boon for substrate and Parachain developers
Before launching its parachain on Polkadot, Chainlink, the de facto standard of oracle networks worth billions of smart contracts, will release the parachain on Kusama.
Kusama and Polkadot are both independent, independent networks. Although built similarly, Kusama is a faster multi-chain network designed for radical innovation. In other words, Karura intends to become a preeminent DeFi destination for Kusama.
The project now offers a suite of financial applications, including a multi-collateral stablecoin (kUSD) and an automated marketplace maker DEX – all with micro gas fees, payable with any code any announcement.
With the additional ability to integrate the Chainlink magic pallet and Price Feed, developers and dApps can push the limits of what’s possible in the Kusama network and launch new financial innovations. bold.
This integration offers a number of advantages for developers, including Chainlink’s time-tested oracle security and superior data quality along with Kusama’s plug-and-play security, speed fast processing, ability to operate on decentralized networks and minimal gas charges.
In general, with Chainlink Price Feed integration, developers using the Kusama and Polkadot network will not only have access to an easy integrated price predictive solution, but also cut costs and increase overall efficiency.
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