TRON Partners With Chainlink, Here’s What To Know

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As a seasoned researcher with years of experience in blockchain technology and DeFi landscape, I find this partnership between TRON DAO and Chainlink incredibly intriguing. Having closely followed the evolution of both platforms, it’s clear that this collaboration is a significant step forward for the decentralized finance (DeFi) industry.

Justin Sun, the creator of TRON, declared that his organization is now part of Chainlink SCALE. This means that Chainlink Data Feeds will serve as the primary oracle for the TRON Foundation moving forward.

By implementing this strategic improvement, we’ll significantly boost the security of approximately $6.5 billion worth of value locked in Decentralized Finance (DeFi) on this blockchain network, leveraging Chainlink’s reliable infrastructure. Simultaneously, this move will open up fresh avenues for its vast ecosystem of around $60 billion, encompassing stablecoins and real-world assets.

TRON DAO Integrates Chainlink Data Feeds, Ditches WINkLink

As an analyst, I’m sharing today’s exciting news: TRON DAO, the decentralized organization at the helm of our mission to decentralize the internet through blockchain and dApps, has entered into a strategic partnership with Chainlink, the foremost decentralized computing platform. This alliance seems to have positively impacted TRX, causing its price to surge by approximately 1.05%.

In this partnership, Justin Sun, the platform’s creator, shared that Chainlink Data Feeds will serve as the main oracle service within the DAO’s blockchain network, which is a part of their dedication to the Chainlink SCALE initiative.

Today’s announcement: TronDAO is now part of Chainlink Scale, utilizing Chainlink Data Feeds as the official oracle for TRON. Upon upgrade, over $6.5 billion in DeFi TVL will be safeguarded by Chainlink, paving the way for increased collaboration and potential growth between Chainlink and TRON’s combined stablecoin and RWA value of approximately $60 billion!

— H.E. Justin Sun(hiring) (@justinsuntron) October 31, 2024

As per the official statement, this implies that the foundation will cease to back WINkLink as the oracle system of the network. Consequently, the DeFi environment, which encompasses significant applications like JustLend and JustStable with a combined total value locked exceeding $6.5 billion, is shifting towards Chainlink for reliable and accurate pricing data.

In its role as a major player in the Decentralized Finance (DeFi) sector, this self-governing, decentralized entity aims to speed up growth within its ecosystem by introducing Chainlink SCALE. This move offers enhanced, trustworthy, and top-tier Oracle services.

In simpler terms, Sun has stated that Tron meme coins are set to enter a phase of renewed expansion, driven by consistent advancements and a strong level of community participation within the Tron ecosystem.

If TRX manages to surpass its past high point, there could be a surge of fear-of-missing-out (FOMO) that attracts interest and investment towards meme coins on the Tron network.

Building the Next Wave of DeFi Applications

Within the SCALE project, TRON initially assumes part of the expenses associated with utilizing the Chainlink network, including gas charges for Oracle services during the initial phase. Later on, as the ecosystem progresses, the costs will be primarily covered by user fees derived from decentralized applications (dApps).

Thodoris Karakostas, leader of blockchain collaborations at Chainlink Labs, expressed enthusiasm over the partnership and stated that integrating Chainlink Data Feeds would strengthen the underlying infrastructure of the foundation’s decentralized finance (DeFi) ecosystem.

As a researcher exploring the realm of blockchain technology, I’m excited about how Chainlink provides reliable, decentralized on-chain market data. This empowerment allows TRON developers to construct the forthcoming surge of Decentralized Finance (DeFi) applications, contributing significantly to shaping the future of the decentralized internet.

As a crypto enthusiast, I too find myself often pondering over complex blockchain concepts. Just like Sam Elfarra, the Community Spokesperson for TRON DAO, I strive to simplify these ideas so they’re easier to grasp. For instance, when discussing TRON’s Delegated Proof of Stake (DPoS) system, I aim to explain it in a way that highlights its benefits and workings, making it more accessible for fellow investors.

“By enrolling in the Chainlink SCALE program, we’re working towards empowering a diverse group of developers to leverage the robust data provided by leading oracles from Chainlink within our Decentralized Finance (DeFi) economy. The unmatched security and dependability offered by Chainlink makes it an ideal fit as our primary Oracle provider, freeing us up in terms of security and allowing us to focus more on promoting blockchain adoption by nurturing growth within our ecosystem.

Chainlink Now Securing TRON’s DeFi Ecosystem

As a researcher delving into the realm of blockchain technology, it’s evident that Chainlink has emerged as the prevailing standard for Oracle solutions. It boasts an impressive track record, having facilitated over $16 trillion in transaction value and verified more than 15 billion messages across various blockchain networks. Among these networks are Ethereum, Solana, BNB Smart Chain, Avalanche, and numerous others.

The data feeds it offers can accommodate tens of billions in Total Value Locked (TVL) across numerous Decentralized Finance (DeFi) platforms. Moreover, it provides exceptional security and reliability, maintaining its performance even during intense market turmoil and blockchain network congestion.

According to the Sun’s report, this partnership marks a fresh start in the organization’s Decentralized Finance (DeFi) environment, providing a safe and scalable route for the future development of decentralized finance on the TRON network.

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2024-10-31 11:19