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Home»HACKING NEWS»Chainlink Launches Data Streams Product on Avalanche Network
HACKING NEWS

Chainlink Launches Data Streams Product on Avalanche Network

By Crypto FlexsJune 28, 20242 Mins Read
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Chainlink Launches Data Streams Product on Avalanche Network
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  • Chainlink launches Data Streams on Avalanche to improve real-time data accessibility.
  • Data Streams introduces pull-based oracles for low-latency data retrieval.
  • The new product expands Chainlink’s product offering.

Chainlink has partnered with GMX (a perpetual futures trading platform) to launch a revolutionary product called Data Streams on the Avalanche Network. This new product aims to revolutionize data processing for decentralized applications like GMX.

GMX leverages Chainlink’s cutting-edge data streams to provide real-time, high-frequency market data essential for decentralized futures exchanges.

Chainlink’s Data Streams introduces a “pull-based” model.

Chainlink’s Data Streams differ from traditional “push-based” oracle systems that regularly update on-chain data at set intervals or when certain parameters are met. Instead, Data Streams products use a “pull-based” model that retrieves off-chain market data on demand with minimal latency.

Traditional push-based oracles are suitable for many applications, but may fall short in scenarios that require rapid data updates. In contrast, a pull-based model for data streams ensures that data is validated on-chain only when needed, such as during transaction execution.

The pull-based approach is especially useful for platforms like GMX where traders need immediate access to raw, high-frequency price data.

The new model not only improves the speed and efficiency of data retrieval, but also maintains the high security standards essential for on-chain finance.

Johann Eid, Chief Business Officer at Chainlink Labs, highlighted the benefits of this new technology, stating that by providing unparalleled speed and resiliency, data streams can power DeFi protocols, enabling ultra-fast, high-throughput DeFi products while maintaining high security guarantees for on-chain finance.

Chainlink is constantly expanding its product offerings.

Deploying data streams on the Avalanche network is part of Chainlink’s broader strategy to expand its product offerings across the blockchain landscape in 2024.

Earlier this year, Chainlink announced an integration with Celo to provide the CCIP interoperability protocol to the Ethereum layer-2 network.

Additionally, Chainlink’s automation features and CCIP protocol will be launched on the Gnosis Network, allowing users to offload heavy computational tasks to the Chainlink network, saving up to 90% on gas fees.

Chainlink is also making progress in asset tokenization. A notable partnership with Hong Kong-based asset management firm Arta TechFin has been announced to tokenize real estate, a traditionally illiquid asset class. This partnership will make commercial real estate investing accessible to a broader range of investors by lowering transaction costs and securing liquidity.


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