Bitcoin

Matic becomes the first platform to launch native Chainlink feeds outside of Ethereum

Matic Network, a smart contract platform that acts as layer one and layer two for Ethereum, announced on Thursday the full release of five Chainlink price feeds set up to power its ecosystem.

Although there are many existing or promised Chainlink integrations outside of Ethereum, most are still in development or indirectly using Ethereum sources.

Matic now offers five price feeds: MATIC / USD, USDC / USD, ETH / USD, USDT / USD and DAI / USDand promises more in the near future.

Matic becomes the first platform to launch native Chainlink feeds outside of Ethereum
Matic becomes the first platform to launch native Chainlink feeds outside of Ethereum

Chainlink’s verifiable randomness feature will also be integrated soon, so Matic’s app developers can create games or other integrations with a fair probability.

The team said integration will be critical for decentralized financial developers looking to build on Matic, referring to several projects such as EasyFi and PlotX that have already committed to using Chainlink oracles.

In the race to scale the second tier to drive the next DeFi rollout cycle, rollup-based projects are often seen as favorites. Sandeep Nailwal, co-founder of Matic Network, told Cointelegraph that Matic’s hybrid approach is already attracting interest, although many criticize Plasma as a solution for smartly scaling contracts:

“The feasibility of plasma for DeFi is a hotly debated topic, but there is no other plasma implementation in production than Matic. And it turns out that it works fine in production and has not encountered any problems after more than 4 months of mainnet startup. “

Argued that Matic’s flexibility in allowing developers to choose between plasma and proof-of-stake can attract different types of developers. “Many applications such as games and virtual reality areas use point-of-sale-only, while some de-fi and prediction markets are using plasma,” he added.

Like other second-layer solutions, Matic supports Ethereum tools and enables developers to “just select their Ethereum smart contracts and deploy them to Matic sidechains in minutes”.Nailwal said.

While Matic is a bit outside of conventional comparisons, the direct support from Chainlink can make a big contribution to greater acceptance. “We believe that Chainlink’s decision to rely on Matic was streamlined based on the greatest demand for their services,” continued Nailwal.

The number of forecast markets built on the platform that have a particularly strong need for reliable pricing information likely contributed to the decision to integrate Matic, he concluded.

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