Chainlink (LINK) Plunges 2.5% Today: The Crypto’s Oracle Is Now Available On Optimistic Ethereum

The price chart of crypto shows a decline of 2.5%, accounting for negative dynamics. The tokens from the smart contract data provider Chainlink are now available on the Optimistic Ethereum (OO) Layer 2 scaling solution. Chainlink will allow developers to create decentralized financial applications (DeFi) using Chainlink channels, known as oracles, which provide data on crypto prices aggregated from hundreds of exchanges. The integration will allow DeFi applications to migrate to OO with minimal changes to their code, according to an announcement published on Wednesday.

Ethereum upgrade may boost ether prices Chainlink price channels will be native to OO, providing developers with low-cost, real-time price updates. Chainlink aims to provide the same quality and reliability of data as at the basic Ethereum level, but at lower costs and with more frequent updates. In August, its oracles, denominated in US dollars, became available on the Ethereum Arbitrum One scaling solution.After integration, Chainlink plans to expand OO support to other Oracle products, such as Chainlink Keepers, a network of node operators offering decentralized off-grid computing.

Miriam Bozini

Finance and Business Reporter