TRON Announces Integration with Chainlink Data Feeds, Boosting DeFi Security
TL;DR
TRON DAO's partnership with Chainlink Data Feeds gives it a competitive edge in securing the two largest DeFi applications on TRON.
Chainlink's data oracles will become the official data oracle solution for the TRON blockchain ecosystem, ensuring high-quality and hyper-reliable oracle services.
TRON's integration with Chainlink Data Feeds aims to empower developers, ease blockchain adoption, and expand accessibility, setting a strong foundation for the future.
TRON's Prime Minister, Justin Sun, announced at Chainlink SmartCon that TRON DAO will cover certain operating costs of Chainlink oracle networks initially.
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In a significant move for the blockchain industry, TRON founder Justin Sun announced the integration of Chainlink Data Feeds as the official data oracle solution for the TRON blockchain ecosystem. The announcement, made during Sun's keynote address at the Chainlink SmartCon conference in Hong Kong, marks TRON DAO's entry into the Chainlink Scale program and promises to bolster security for major decentralized finance (DeFi) applications on the TRON network.
The integration is set to have far-reaching implications for the DeFi sector, particularly for JustLend and JustStable, the two largest DeFi applications on TRON with over $6.5 billion in Total Value Locked (TVL). Sun emphasized that Chainlink's industry-standard data oracles will play a crucial role in securing these platforms, potentially impacting $60 billion in stablecoins and real-world assets (RWAs) associated with TRON.
As part of the Chainlink Scale program, TRON will initially cover certain operating costs of Chainlink oracle networks, including transaction gas fees. This arrangement aims to provide developers with sustainable access to high-quality and reliable oracle services, fostering innovation and growth within the TRON ecosystem.
The announcement comes at a time of significant growth for TRON. Sun reported that the blockchain now boasts over 270 million user accounts and has processed 8.8 billion transactions. Moreover, TRON achieved a record $577 million in quarterly protocol revenue in Q3 2024, underscoring its expanding influence in the blockchain space.
Looking ahead, Sun outlined several key initiatives on TRON's roadmap, including the development of a Bitcoin Layer 2 solution and the implementation of gas-free stablecoin transfers. These projects aim to enhance accessibility, empower developers, and facilitate broader blockchain adoption.
The integration of Chainlink Data Feeds into the TRON ecosystem represents a strategic move to enhance the security and reliability of DeFi applications on the platform. As the blockchain industry continues to evolve, such partnerships between major players could play a crucial role in shaping the future of decentralized finance and blockchain technology as a whole.
Curated from News Direct
