Cryptocurrency exchange Huobi Global has disclosed that it is becoming the first major trading platform to start running a Chainlink node on Chainlink’s ecosystem.
Aside from running a Chainlink node, Huobi will leverage on Chainlink’s external adapters to make the Huobi exchange API available to smart contracts. Thus allowing developers to access price data from Huobi Global.
One of the world’s top cryptocurrency exchanges @HuobiGlobal is making its exchange data available to smart contracts through the #Chainlink Network. Additionally, @HuobiWallet is currently running a live Chainlink Node.
— Chainlink – Official Channel (@chainlink) July 3, 2020
Notably, the first batch of price pairs will include BTC/ETH, BTC/USDT, ETH/USDT, and LINK/ETH. The platform additionally noted that once launched, more trading pairs would be made available.
It is worth noting, that while Binance was the first cryptocurrency exchange to have their data on Chainlink oracles. Huobi will be the first to run its node on the blockchain through the Huobi Wallet. The Chainlink node will also enable it to sign its price data. This would invariably allow its users to verify the authenticity of any exchange data coming from the Huobi Node.
In his statement, Sergey Nazarov, co-founder of Chainlink, said “We’re excited to help Huobi make it’s exchange data available to the DeFi market. Both by onboarding them as a Chainlink node operator. And using Chainlink external adapters to make the Huobi exchange API accessible to smart contracts,” he added.
Chainlink to bring several advantages to DeFi space
Huobi via an official blog post disclosed that by creating an external adapter for the Huobi Global Exchange API, any Chainlink node would be able to leverage it in their node setup to provide access to our price data.
This would allow a wider range of DeFi projects to access prices. Additionally, this data can be relied on to build more innovative products for lending, borrowing, derivatives, and more.
Will Huang, CEO of Huobi Wallet, noted that DeFi offers a unique value proposition. Mainly providing financial products that are transparent, open, and programmable.
“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 Chainlink Node. We want to accelerate the growth of DeFi. And we feel that supporting Chainlink’s critical oracle services are key to enabling DeFi to take the next step in its evolution,” he said.
Google searches for Chainlink hits record high
Currently, according to Google Trends, worldwide queries for the word “Chainlink” on the search engine hit a new high recently. The word recorded 100%, indicating it has the maximum number of searches observed for a term during a given time frame.
This means interests in Chainlink, which acts as a bridge between cryptocurrency smart contracts and off-chain data feeds, is now at the highest level.
The increased interest has been linked to the Chainlink token’s recent meteoric price rally. The price of the link rose to a record high of $8.48. Having rallied by 50% in the last week alone. Notably, at press time, the link was increasing at around $7.90 on vital exchanges. Up 73% on a month-to-date basis, and also 350% on a year-to-date basis.
Also, given the number of partnerships and recognition in recent times, Chainlink is undoubtedly the market leader in the provision of oracle services. It also continues to link smart contracts with off-chain data and has partnered with large enterprises like Google, SWIFT, and Oracle.
Additionally, it recently joined Inter Work Alliance (IWA), a platform-neutral, non-profit organization dedicated to creating the standards frameworks needed to increase innovation across token-enabled ecosystems.
Altcoin Buzz recently covered an in-depth video about Chainlink which includes LINK price prediction. Also a comparison with Cardano volume and LINK volume analysis.