Chainlink and Arbitrum: Partnership That Could Impact Crypto Market

  • 📰 Utoday_en
  • ⏱ Reading Time:
  • 62 sec. here
  • 3 min. at publisher
  • 📊 Quality Score:
  • News: 28%
  • Publisher: 63%

Business News News

Business Business Latest News,Business Business Headlines

Partnership between projects may help development of cryptocurrency market chainlink

Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

With a focus on scalability, Chainlink Automation allows transactions to quickly identify and confirm even during periods of network congestion.In addition to being present on the blockchain of the market's leading altcoin, Chainlink Automation is on the BNB Chain, Polygon, Avalanche, Fantom and has recently arrived on Arbitrum. The highlights of this latest collaboration are the subject of this article.

These developments happen on Arbitrum, as it is an Optimistic Rollups technology. This Layer 2 protocol is designed to extend the throughput associated with the Ethereum base layer. It allows smart contracts on the ETH network to scale. Over the course of 2022, Chainlink was one of the blockchain projects that gathered the most partnerships around it, and it should continue this trajectory in the coming year. As an example, at the end of November, the oracle made 12 integrations of five Chainlink services on four different networks: BNB Chain, Ethereum, Optimism and Polygon.

Roll-up solutions like Arbitrum's, on the other hand, show investor interest because there is a great need for cheaper, more efficient and faster blockchain developments — virtues not yet seen on Ethereum.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 295. in BUSİNESS

Business Business Latest News, Business Business Headlines