moonlight, Smart contract platform compatible with Ethereum On Polkadot, announce native integration Chainlink price information exist Moon river.
Developers can now use Chainlink’s oracle function on Moonriver, use external data resources and off-chain calculations to build DeFi smart contracts-everything without leaving Kusama Yayoi Ecosystem. Moonriver is a parachain on the Kusama network and a sister network of Moonbeam. Moonriver provides a test environment for smart contract developers to deploy new code under real economic conditions.
In addition, Moonriver is compatible with the existing Ethereum toolset and network, including a complete EVM implementation, Web3-compatible API, and a bridge that connects Moonriver to the existing Ethereum network. This allows developers to deploy existing Solidity smart contracts and dApp front ends to Moonriver with minimal changes, while users can access Moonriver dApps on familiar wallets such as MetaMask.
Chainlink Price Feeds is an on-chain price reference contract supported by a decentralized oracle network. Each decentralized oracle network is composed of numerous node operators that are resistant to sybil attacks. These operators obtain prices from data aggregators to generate accurate market prices. These prices are supported by a wide range of market coverage and infrastructure. There is no single point of failure.
The integration of Chainlink Price Feeds on Moonbeam provides developers with the key features required by DeFi applications, including:
- High-quality data: The price data comes from a high-quality off-chain data aggregator, allowing users to reduce the risk of certain types of lightning loan attacks, because each price point reflects all trading environments rather than a summary of the transaction volume adjustments of a single exchange.
- Protect the Oracle node: The Oracle network consists of independent, security-reviewed nodes that are run by leading security and blockchain DevOps teams to protect users from Sybil and other types of infrastructure attacks.
- Decentralized computing: Each Price Feed is decentralized at the oracle and data source level, resulting in highly available and manipulation resistant data and oracle services.
- Proven Oracle infrastructure: Chainlink has secured billions of dollars in value for top DeFi applications, proving its ability to secure a large amount of value on MainNet.
Ultimately, the combined advantages of Chainlink and Moonriver allow the realization of highly scalable, low-cost, EVM-compatible DeFi applications on Kusama, which are always in sync with the global financial market. These applications can be deployed on Moonbeam of the Polkadot parachain ecosystem in the future.
“Smart contracts are isolated by default and can only reference data already on the blockchain,” said Derek Yoo, the founder of Moonbeam. “The oracle expands the applicability of smart contracts by providing data from the world on the chain. Chainlink is the most widely adopted oracle and is the most demanding integration of the protocol development team deployed to Moonriver. We are very happy to cooperate with Chainlink, Enable these teams to initiate lending and other agreements that are a core part of the Moonriver DeFi ecosystem.”
Those who are interested can start using Chainlink Price Feeds on Kusama Developer documentation for Moonbeam.