Chainlink, the decentralized oracle platform, has officially launched its standard for verifiable data on Scroll, a scaling solution powered by zero-knowledge-proof technology on Ethereum. The announcement was made on January 29, with Chainlink emphasizing that Data Streams are now live on the Scroll (SCR) mainnet. This development grants developers on the zkEVM platform access to Chainlink’s low-latency market data.
The integration of Chainlink Data Streams with Scroll presents a milestone for developers. This solution amalgamates low latency with automated execution, enabling the creation of state-of-the-art decentralized finance applications. These applications, or DeFi apps, will offer enhanced features such as faster transaction settlement, reduced fees, and advanced blockchain functionality.
Raza Zaidi, head of growth at Scroll, articulated the implications of this development, stating, “Chainlink Data Streams enable Scroll developers to build high-performance dApps underpinned by Chainlink’s decentralized, credibly neutral infrastructure. This provides developers with the tools to unlock new possibilities in DeFi innovation, as we continue to build the Open Economy.”
Scroll’s partnership with Chainlink began in August 2023 when Scroll joined the Chainlink Scale program. This collaboration aimed to expedite ecosystem growth, granting the rollup solution’s ecosystem of developers access to expert technical support and other services on the leading oracle network.
However, leveraging Chainlink’s DeFi oracle infrastructure offers more than just faster transaction settlement and top-tier security. It gives developers the ability to create DeFi apps that elevate user experience to a level resembling traditional finance platforms and centralized exchanges.
Scroll launched its mainnet in October 2023 after a two-year development period. Since then, the project has partnered with industry players such as Ether.fi, Alchemy Pay, and Nansen. These partnerships underscore Scroll’s strategy to drive growth and position itself as a significant player in the decentralized finance space.
This development is a significant step forward for the DeFi field, demonstrating the potential for more seamless integration between different platforms and services. As Chainlink’s oracle infrastructure continues to expand and integrate with other systems, the possibilities for future DeFi applications and functionalities become increasingly broad and exciting.
