DeFi oracles would become easily available to Radix developers as Radix yesterday declared that it would be integrating the popular Chainlink system into its works.
The pioneer layer-1 built for the basis of a decentralized monetary network, Radix, made this decision so that its developers would easily benefit from the wide range of access it would have to a safe and correct database for its DeFi oracles.
This access would enable financial app developers to bring a more traditional monetary system to the public via decentralized financial apps that will create innovative and DeFi oracles, products and services on the Radix protocol.
How Chainlink will help DeFi Oracle
The integration of Chainlink to Radix would offer a wide range of benefits to developers as it would allow them to create unique and innovative DeFi oracle products that have never been seen before in the market.
Also, the availability of data on Chainlink would enable the developers to produce high definition traditional financial services to the teeming public, thereby bringing access to a decentralized financial system to users.
Why Radix Chose Chainlink for its DeFi Oracles
Every developer in the DeFi industry needs access to real-time market data which are mostly saved in a decentralized network. It is because of this reason that Radix chose Chainlink after looking at other DeFi oracle options and discovering that Chainlink feed is already being used by protocols like Bancor, Aave etc.
Understanding Chainlink
In the ever-growing and evolving world of cryptocurrency and blockchain network, Chainlink has grown to become the most widely used platform that is used to power smart contracts.
Chainlink would allow developers to have access to any blockchain with data from top quality sources from the real world or other blockchains.
The Chainlink network has safeguarded assets running into billions of dollars through its smart contract in different industries like the financial and insurance sector, gaming sector, DeFi, and other sectors.
