Major cryptocurrency exchange Huobi has announced it is becoming the first major trading platform to start running a Chainlink node and integrate its price data in Chainlink’s ecosystem.
According to an announcement the trading platform published, Huobi will use Chainlink’s external adapters to make the Huobi exchange API available to smart contracts, which will allow developers to access the exchange’s price data. The first supported pairs will be BTC/ETH, BTC/USDT, ETH/USDT, and LINK/ETH.
While binance was the first major cryptocurrency exchange to provide their data ton Chainlink oracles, Huobi will be running its own node on the cryptocurrency’s blockchain through the Huobi Wallet. The node will let it sign its own price data, which users will be able to verify is authentic.
Will Huang, Huobi Wallet’s CEO, said that the decentralized finance (DeFi) space offers a “unique value proposition of providing financial products that are transparent, open, and programmable.” He added:
We are very excited to accelerate our involvement in this emerging trend by providing Chainlink users access to Huobi Global exchange data, as well as running our own Chainlink Node.
In its announcement, Huobi noted that it has extensive experience operating Proof-of-Stake nodes, as Huobi Wallet already secures a total of $10 million in cryptoassets for projects like ATOM, Ontology, and LOOM. The new node will further decentralize the nodes available for oracle data services on Chainlink.
Chainlink, the post adds, has established itself as a market leader when it comes to oracles, which are “quickly becoming one of the most important pieces of infrastructure in moving the blockchain space beyond tokens.” It provides smart contracts with universal access to real-world data, off-chain events, and traditional payment infrastructure.
Huobi also pointed out in its announcement that Chainlink Is the most used oracle in the decentralized finance ecosystem, and is integrated on various other blockchains including Tezos, Polkadot, and Cosmos. It works with large enterprises such as Google, Oracle, and SWIFT.
Featured image via Pixabay.
