Hedera has adopted Chainlink's suite of smart data products to accelerate the growth of decentralized finance and tokenized assets in the world.
The Hedera (HBAR) team name on December 16 that Chainlink (CHILDREN)'s Data Feeds and Chainlink Proof of Reserve are now live on the Hedera mainnet.
The integration aims to support developers on the Hedera network by providing access to high-quality data and backup verification. According to a blog post by the platform, Hedera developers can now use this data technology for DeFi and tokenized RWA projects.
The integration of Hedera and Chainlink follows the recent major partnership between the HBAR Foundation and Chainlink, with the latter joins the Chainlink Scale program.
Developers will benefit from Chainlink's high-quality data collection, secure node operations, and decentralized infrastructure. In addition, users get a programming facility with on-chain backup data.
“By bringing Chainlink status to our developer ecosystem, we can provide greater access to high-quality, blockchain-proof data supported by a decentralized, mission-critical infrastructure to 'building secure DeFi applications and scalable assets.'
Elaine Song, vice president of strategy at The HBAR Foundation
Chainlink's growing role as a leader in on-chain finance and cross-chain interoperability has led to partnerships with several crypto and traditional financial companies. Its oracle network has acquired over $17 trillion in value over blockchain transactions.
Beyond Hedera, Chainlink's data standards and proof-of-concept technology power other major DeFi protocols such as Aave, Lido, and GMX. Traditional financial institutions, including Fidelity, Swift, UBS, and ANZ Bank, also use Chainlink technology.
