Binance is one of the top crypto exchanges in the world, spanning hundreds of countries and has a host of coins under its belt. As such, Binance has a trove of useful data coming through it on a daily basis that can be useful for anyone who’s trying to get into the crypto sphere.
In an attempt to further expand this sector, Binance has partnered with Chainlink to provide useful data to the nascent decentralized finance (DeFi) industry. This collaboration is quite significant given that decentralized finance heavily uses smart contracts to create financial applications for lending, derivatives, decentralized exchanges and more.
And since smart contracts are totally dependent on the accuracy of the data being provided, having Binance pushing this movement is an important step in the rise of DeFi.
In partnership with Chainlink, Binance aims to connect a wide variety of cryptocurrency data on its platform to blockchains. Chainlink will be providing its oracle technology to DeFi projects, allowing them access to Binance data off-chain without sacrificing security risks, wrote Binance CEO Changpeng Zhao.
“At Binance, we are committed to growing the blockchain ecosystem. We support the development of Decentralized Finance as an important part of the ecosystem. Binance works with many blockchain projects, including Chainlink, to bring freedom of money everywhere, and through the help of Binance data and Chainlink’s network, we can help accelerate the growth of DeFi,” Zhao said. Read More...