The post TRON Enhances DeFi Security via Chainlink Data Feeds appeared on BitcoinEthereumNews.com.

TRON announced a major partnership with Chainlink, adding to the growing list of ecosystems integrating the Oracle network’s data feeds, among other services. This move signals a substantial upgrade in TRON’s infrastructure as it aims to enhance the security and reliability of its DeFi offerings. Tron to Boost DeFi Security with Chainlink Data Feeds Chainlink Data Feeds are a vital part of decentralized finance (DeFi), ensuring accurate and reliable price data for decentralized applications (dApps). By leveraging these data feeds, TRON’s largest DeFi applications, including JustLend and JustStable, can rely on a strong source of off-chain data to execute transactions and settle smart contracts safely. TRON’s founder, Justin Sun, expressed optimism about the collaboration, noting that it positions the network to secure over $6.5 billion in total value locked (TVL) within its DeFi ecosystem. “TronDAO has joined Chainlink Scale, adopting Chainlink Data Feeds as TRON’s official oracle. Once upgraded, $6.5B+ in DeFi TVL [total value locked] will be secured by Chainlink, creating opportunities for Chainlink and TRON’s $60B+ in stablecoins and RWA,” Justin Sun commented. Read more: What Is Chainlink (LINK)? The announcement came during the SmartCon 2024 event, which BeInCrypto discussed among the top crypto news this week. During the conference, Chainlink revealed that its Data Feeds currently secure tens of billions in TVL for various DeFi protocols. Reportedly, the service has also facilitated over $16 trillion in transactions across the blockchain ecosystem. Indeed, Chainlink Data Feeds help secure smart contracts by providing essential price data while safeguarding them from manipulation risks. This partnership, therefore, replaces TRON’s previous oracle solution, WINkLink, with Chainlink’s infrastructure, which is advertised as reliable and trustworthy. Further, the integration places TRON among several prominent blockchains that utilize Chainlink’s oracles to access external data securely. Chainlink Lowers Barriers for Developers The integration will occur under…

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Filed under: News - @ November 1, 2024 9:24 am