Oracles from Chainlink, a provider of data feeds to smart contracts, have been integrated into Ethereum scaling solution Arbitrum One.
- Chainlink’s U.S. dollar-denominated price feeds are available now, with support for new price pairs to follow, according to an announcement shared with CoinDesk Thursday.
- Arbitrum says it is addressing a common request from smart-contract developers, who require high-quality data from financial markets to power decentralized exchanges, futures and options platforms and algorithmic stablecoins.
- The Chainlink feeds provide Arbitrum with high-frequency price updates allowing assets to be valued on-chain and in real time.
- Arbitrum says developers will be able to receive the same data quality and reliability as on the Ethereum base layer, but at lower cost and with more frequent updates.
- Arbitrum One is the network’s beta mainnet.
Read more: Chainlink Unveils Crypto ‘Keepers’ and Anti-Fraud Blockchain Bridges