news.bitcoin.com
Chainlink, a decentralized computing and oracle protocol, Avalanche, known for its layer one (L1) blockchain technology, and GMX, a notable decentralized exchange, have launched Chainlink Data Streams on the Avalanche blockchain.
Chainlink, Avalanche, GMX Launch Data Streams on Avalanche Blockchain
In communications shared with Bitcoin.com News by the three teams, the announcement notes that Chainlink Data Streams harnesses low-latency market data to facilitate rapid and secure transactions on decentralized finance (defi) platforms. By enabling high-throughput transactions, the collaboration between the trio aims to match the performance of traditional centralized exchanges.
The three teams detailed that the integration with GMX is poised to improve trading speeds and efficiency, and leveraging Chainlink‘s infrastructure aims to ensure secure and continuous market data delivery. GMX, which utilizes this new tool on its V2 platform, reported enhanced trading capabilities and overall system strength.
The technology is expected to bolster the Avalanche network by providing developers and traders with improved data access and execution speeds. “By offering unmatched speed and resiliency, Data Streams enable defi protocols to provide ultra-fast, high-throughput defi products while maintaining the high-security guarantees of onchain finance,” Johann Eid, the chief business officer at Chainlink Labs stated.
What do you think about the Data Streams integration? Share your thoughts and opinions about this subject in the comments section below.