The lunch of Chainlink on Harmony Protocol is geared towards offering more off-chain data resources and enhanced value to the platform’s users. Chainlink clients will be able to access proof-of-stake benefits with the integration of decentralized oracle of Chainlink.
Blockchain platform @harmonyprotocol integrates #Chainlink live on testnet to open up access to off-chain data. Harmony will also dedicate a portion of its fintech grant program to Chainlink-powered Harmony dApps focused on #DeFi and cross-border finance. https://t.co/vllHXFN3zl
— Chainlink – Official Channel (@chainlink) August 4, 2020
As the official announcement, Chainlink clients would benefit from Harmony’s off-chain data resources by linking with the decentralized oracles. Chainlink on Harmony Protocol would also help bring price feeds to the applications.
Interestingly, Harmony mentions that the collaboration will also prove beneficial for the DeFi apps. Harmony is also confident that the integration with Chainlink is vital to operate numerous cross-border finance solutions with real-time data. The transparent price-feeds add more value to the off-chain data making Chainlink processes highly relevant.
Chainlink oracles will work to the benefit of Harmony by leveraging on the decentralized price oracles. Harmony can link with trusted off-chain API using adapters from Chainlink. It will help it quickly connect with other valuable blockchains. The connection with more than 30 verified oracles in the Chainlink’s decentralized ecosystem would help it improve its services further.
Stephen Tse of Harmony says that the integration would pave the way for an efficient decentralization in the long-term. He adds that the developers are thrilled to work on the latest DeFi solutions powered by off-chain data resources. Most importantly, Harmony unveiled grants worth $7 million for applications that employ the latest collaboration.
Harmony rising fast on the growth trajectory
The recent growth in Harmony is consistent with the industry’s rapid rise upwards. From P2P to state sharding, Harmony blockchain has networked with numerous prominent organizations to chart its growth trajectory. It aims to deliver global blockchain solutions.
It recently announced pre-staking launch promising 320 validator seats. Additionally, Harmony Network’s IEO recently turned one after launching on Binance. To commemorate the event, the network has announced an open staking launch. Hopefully, the launch of Chainlink on Harmony One promises even more value to the platform’s users.