Solana, the high-performance blockchain network, today announced that Chainlink Price Feeds, the most widely used and time-tested decentralized price oracles in DeFi are now running live on the Solana Devnet at sub-second updates. The Chainlink team intends to ship the mainnet integration before Q4 ends,
Now, Solana developers can leverage Chainlink Price Feeds for highly decentralized, high-quality, and fast-updating price reference data to build a wide variety of hybrid smart contract apps.
With Solana supporting up to 65,000 transactions per second and per-transaction fees of less than a penny, adding Chainlink Price Feeds enables DeFi app development that competes with CeFi trade execution and risk management quality.
Securing tens of billions of dollars across the DeFi ecosystem, Chainlink Price Feeds leverage a network of nodes that source data from numerous premium data sources and benchmark providers to generate market-representative prices with robust coverage and multiple layers of decentralized security to ensure precision, uptime, and tamper-resistance, even during periods of extreme market volatility.
Development teams taking advantage of Chainlink Price Feeds on Solana can save time and resources getting to market, given they don’t need to build backend infrastructure from scratch. Instead, developers can focus on their core business and bringing next-generation apps to users in the Solana ecosystem.
Importantly, Chainlink’s Solana deployment has no dependencies on external blockchains, allowing oracle updates to occur at the speed and costs native to Solana while ensuring the highest quality of data and level of uptime and tamper-resistance that developers have come to expect from Chainlink.
Chainlink + Solana
“Developers will have the proven oracle infrastructure they need to build high-speed and tamper-proof DeFi apps. We are excited to be supporting the growth of the Solana ecosystem through oracle networks that provide end-to-end decentralization, data accuracy, and a wide range of secure off-chain services.”
– Sergey Nazarov, Co-Founder of Chainlink
Offering low-latency updates with market coverage across all relevant traditional and decentralized exchanges, each Chainlink Price Feed update represents carefully aggregated prices using a framework for source aggregation, suspicious volume detection, and decentralized computation.
Consequently, Chainlink has remained accurate and available despite exchange downtime, flash crash outliers, and data manipulation attacks like flash loans.
“Integrating Chainlink natively into the Solana blockchain can significantly increase the rate at which developers can build high-throughput DeFi apps by providing them with direct access to reliable off-chain data and computation.”
– Anatoly Yakovenko, Founder & CEO of Solana Labs
Check out the Chainlink developer doc to start building Chainlinked smart contracts on the Solana Devnet.