Moonbeam, the Polkadot interoperability-focused smart contract platform, has implemented the Chainlink Price Feeds oracle solution.
Polkadot decentralized application developers can now leverage the Chainlink blockchain oracle network to build applications, thanks to Moonbeam’s native integration of the network.
Polkadot’s smart contract solution, focused on multi-blockchain interoperability, has noted that the availability of the Chainlink price oracle network is a vital element of its infrastructure, allowing Polkadot developers to use one of the most powerful and innovative tools available in the industry for building the DeFi economy.
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Chainlink is considered one of the pillars of the blockchain-based decentralized financial ecosystem, as it allows real-world data to be interconnected with smart contract blockchains, such as Ethereum.
Chainlink Price Oracles Arrive on Polkadot
The integration and availability of Chainlink price oracles on the Moonbeam protocol will streamline the work of Polkadot developers, said the founder of this project, Derek Yoo.
The goal of this integration, he noted, is to enable the construction of more sophisticated DeFi applications through the availability of reliable, high-quality, real-world decentralized data.
Through Chainlink’s Price Feeds oracle network, Polkadot developers can access price data without ever leaving the blockchain ecosystem.
In addition to this, Yoo pointed out that Chainlink solves the need for developers to access reliable, attack-resistant and tamper-proof data sources, which are indispensable for exploring the full potential and use cases of the DeFi ecosystem.
Currently, Moonbeam’s Moonwell Artemis lending protocol uses Chainlink’s Price Feeds oracles to power a safer lending experience through high-quality, accurate price data.
250 monthly active developers working on Polkadot
Polkadot is one of the most promising blockchain ecosystems in the industry. According to Electric Capital, in its report In the 2021 developer pool, Polkadot is the second blockchain ecosystem with the highest number of monthly active developers, after Ethereum.
About 4.000 open source developers are working on Ethereum each month, while about 250 developers are working on the Polkadot blockchain, the venture capital firm said.
Despite the noticeable difference, Polkadot is in second place among the top 5 largest developer ecosystems in the crypto industry.
In the developer report, Electric Capital also noted that more than 2.500 open source developers are working on smart contracts and decentralized applications for the DeFi ecosystem.
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