Starknet developers can now build highly scalable and secure
DeFi applications
SAN
FRANCISCO, July 11, 2024 /PRNewswire/ -- Chainlink,
the industry-standard decentralized computing
platform, and Starknet, the secure scaling technology bringing
Ethereum's benefits to the world, announced today that
Chainlink Data Feeds, the industry-leading data solution for
DeFi, are now live on Starknet mainnet.
Starknet is an ecosystem that helps developers to overcome
Ethereum's scalability limitations while ensuring
computational integrity. The addition of Data Feeds offers support
for developers who are building highly scalable and secure
DeFi applications on Starknet. The integration will
help accelerate the growth of the Starknet ecosystem and scale
DeFi on Ethereum—without compromising
composability or security.
"We're pleased to support the Starknet ecosystem with the native
integration of Chainlink Data Feeds, enabling developers to build
highly secure and scalable DeFi applications," said
Johann Eid, Chief Business Officer
at Chainlink Labs. "With hyper-reliable, accurate, and
decentralized market data natively accessible onchain,
developers can create next-gen applications on Starknet."
Starknet previously joined Chainlink SCALE to gain enhanced
access to Chainlink services and accelerate ecosystem growth and
app development on its ecosystem. As part of the Chainlink SCALE
program, the Starknet Foundation covers certain operating costs for
Chainlink oracle nodes, equipping Starknet developers with access
to low-cost Chainlink Data Feeds. This strategic partnership
established an attractive landscape for Starknet developers by
providing a data-rich, low-cost environment to build highly
performant, increasingly complex, and secure smart contract
applications.
Starknet is a permissionless Validity-Rollup on
Ethereum that enables dApps to securely
achieve massive computation scale. However, as is the case for all
blockchain environments, smart contracts cannot natively access
external data. Chainlink solves this problem by bringing highly
accurate market data onchain in a highly secure manner.
"We're excited to integrate the industry standard Chainlink Data
Feeds on Starknet," Diego Oliva, CEO
at the Starknet Foundation. "Providing Starknet developers with
highly secure, reliable, and accurate data will unlock a host of
advanced DeFi use cases and drive the adoption of the
Starknet ecosystem."
As the most widely adopted price data standard in Web3,
Chainlink already helps secure leading DeFi protocols
responsible for tens of billions of dollars in smart contract
value, maintaining robust security and high availability even
amidst unexpected events, such as exchange downtime, flash crashes,
and data manipulation attacks via flash loans. Chainlink Data Feeds
have enabled over $12 trillion in
transaction value since the beginning of 2022 and have delivered
over 12 billion data points securely onchain. The combined benefits
of Starknet and Chainlink enable hyper-scalable, highly secure, and
reliable DeFi applications that will help realize mass
DeFi adoption and scale Ethereum.
About Starknet Foundation
The Starknet Foundation is a
non-profit that is the steward of the Starknet Ecosystem, a fast
and scalable L2 based on secure, future-proof ZK-STARK technology.
Driven by the mission of creating a digital world built with
integrity, trust and transparency at its core, The Foundation
oversees the ongoing development, growth, and adoption of the
ecosystem through a broad range of programs and partnerships aimed
at creating a highly engaged community of developers, founders, and
users. To find out more visit starknet.io
About Chainlink
Chainlink is the industry-standard
decentralized computing platform powering the
verifiable web. Chainlink has enabled over $12 trillion in transaction value by providing
financial institutions, startups, and developers worldwide with
access to real-world data, offchain computation, and secure
cross-chain interoperability across any blockchain. Chainlink
powers verifiable applications and high-integrity markets for
banking, DeFi, global trade, gaming, and other major
sectors.
Learn more about Chainlink by visiting chain.link or reading the
developer documentation at docs.chain.link.
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SOURCE Chainlink; Starknet Foundation