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Chainlink Oracles receive Binance Smart Chain’s endorsement, among others

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The demand for Chainlink’s price feed has been rising by the day, with the same receiving new endorsements from more and more participants in the crypto-ecosystem. Prosper is the latest one, with the protocol announcing the completion of its mainnet integration with Chainlink’s Oracle network. Prosper is a decentralized short-term prediction market and hedging platform built on the Binance Smart Chain. According to the announcement made by Prosper,

“Prosper will use Chainlink Oracle Price Feeds on both Binance Smart Chain and Ethereum to bring about the most decentralized and liquid prediction markets in the DeFi landscape.”

The Oracles constitute an important part of the DeFi ecosystem and Chainlink has been one of the leading ones. It has been working with several DeFi projects by connecting them to off-chain and on-chain data sources.

Prosper is currently active on BSC and it is leveraging BNB-denominated price feeds for its initial prediction pools. It will now use additional Chainlink Price Feeds to expand its prediction pools to include Ethereum [ETH], Bitcoin [BTC], Tron [TRX], Litecoin [LTC], and Travala [AVA].

Binance Smart Chain had also announced native support for Chainlink yesterday. This integration was on a root level which meant that the Oracles will not require support for the Ethereum network since they would be running directly on BSC. The announcement read,

“By integrating Chainlink, Binance Smart Chain can now support a robust ecosystem of externally connected DeFi applications, as well as numerous other smart contract verticals such as gaming, insurance, and supply chain management. Chainlink oracles are accessible on Binance Smart Chain without any dependencies on Ethereum.”

Additionally, Tax Heaven, a lending protocol, has also announced integrating Oracle network on mainnet to secure prices for numerous crypto-assets used on its platform.

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Namrata is a full-time journalist at AMBCrypto covering the US and Indian market. A graduate in Mass communication, while majoring in Journalism, she writes mainly about regulations and its impact with a focus on technological advancements in the crypto space.

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