Hedera and Chainlink: a synergy to accelerate DeFi and tokenized assets

Hedera integrates the Chainlink standard for decentralized data, opening new possibilities for DeFi and tokenized assets. The adoption promises greater transparency, security, and innovation for developers and blockchain applications.

Let’s see all the details in this article. 

Proof of Reserve and Chainlink data feeds now integrated into the Hedera network

Hedera takes a significant step towards the expansion of decentralized finance (DeFi) and tokenized assets by integrating Chainlink data feeds and Proof of Reserve.

This collaboration combines the solidity of Hedera’s decentralized network with the proven reliability of Chainlink’s oracle systems, already widely adopted to support critical financial protocols.

The integration represents a fundamental step for the developers of the Hedera network, who now have direct access to high-quality offchain data transmitted securely and reliably on the blockchain.

This system allows the creation of more secure and scalable applications, while simultaneously improving transparency and trust in onchain markets.

The adoption of Chainlink data feeds ensures access to accurate information on market asset prices, which are fundamental for the development of robust DeFi applications.

The data collected from a wide range of sources are carefully aggregated to provide reliable market values that are resistant to manipulation. 

This advanced infrastructure ensures that prices reflect a weighted average of transactions, both onchain and offchain, offering a solid foundation for the operation of decentralized financial protocols.

The developers of Hedera also benefit from a decentralized oracle network that ensures resilience and protection against any manipulation attempts. 

The multi-level decentralization, from nodes to data aggregators,  makes the system highly reliable, even in stress situations such as network usage peaks or infrastructural interruptions.

The Proof of Reserve: transparency for tokenized assets

Another key component of the integration is Chainlink’s Proof of Reserve, which brings an unprecedented level of transparency to tokenized assets. 

Using this technology, applications on the Hedera network can verify in real-time the collateralization of assets, increasing user trust and preventing potential risks of under-collateralization.

This system is designed to ensure that every minted token is effectively backed by existing reserves. 

Developers can incorporate this feature into their protocols, creating automated logic for risk management and improving operational efficiency. 

The possibility of publicly monitoring the Proof of Reserve data feeds promotes greater transparency and accountability in the blockchain markets.

The partnership between Hedera and Chainlink goes beyond simple technological improvement. Thanks to the Chainlink Scale program, the HBAR Foundation supports developers of the Hedera network by offering easy access to oracle services.

This program highlights Hedera’s commitment to creating an open and collaborative ecosystem, where innovation and sustainability come together to fuel a new generation of decentralized applications.

With over ten billion dollars already secured by Chainlink services on other blockchain networks, the integration with Hedera represents a milestone for the expansion of DeFi possibilities. 

Applications such as decentralized exchanges, lending protocols, and tokenized assets can now operate with superior security and transparency, making Hedera one of the most competitive platforms in the blockchain landscape.

The importance of a shared standard

The adoption of the Chainlink standard on the Hedera network is not only a victory for the developer community, but an important step towards interoperability and standardization in the blockchain ecosystem. 

The ability to connect offchain and onchain data in a secure and decentralized manner not only improves the efficiency of existing protocols but also opens the door to new usage models.

The vice president of strategy at the HBAR Foundation, Elaine Song, expressed excitement for this integration. 

In particular, emphasizing how access to reliable data and decentralized infrastructures is essential for the growth of applications based on Hedera.