Chainlink (LINK) has been integrated into a number of other blockchain projects recently. In fact, the project was integrated by three different projects in the last seven days alone. This has had a strong impact on its price, which has reached a new all-time high as a consequence.
Chainlink adopted by three new crypto projects
In the past several days, three different projects announced the adoption of Chainlink’s technology. The first one was Warp Finance, which stated that it aims to use Chainlink’s real-time price feeds, which will improve its security. This will be very important for the project, which recently suffered an $8 million flash loan hack.
Then, there was also Prophet Finance, which revealed that it too plans to use Chainlink’s technology — particularly its Verifiable Random Function. The so-called VRF feature will be used for running the project’s internal lottery system.
The most recent project to integrate Chainlink’s tech, however, SKALE Network, which is also interested in LINK’s oracle solutions.
1/ We're excited to award a community grant to @vulcanlink to integrate #Chainlink into the @SkaleNetwork, both expanding what developers can build on SKALE & extending Chainlink into a new blockchain ecosystem to further support developer demand. https://t.co/GTDv4K0J5m
— Chainlink – Official Channel (@chainlink) January 22, 2021
How will SKALE benefit from Chainlink’s tech?
According to the recent announcement, SKALE aims to use Chainlink’s technology to ensure quick, secure launches of new applications and other products. The integration will allow it to improve the speed and security of its applications.
The company also aims to use Chainlink’s price feeds, which will contribute to its data being reliable, accurate, and available around the clock. Furthermore, the price feeds will allow SKALE to benefit when it comes to using DeFi implementation projects.
Even that is not all, as the project also aims to use the VRF feature, as well. VRF will allow it to create blockchain gaming solutions that will offer a fair selection for lotteries. Finally, SKALE also aims to use Chainlink’s Proof of Reserve, for on-chain monitoring of backed reserves. The project is certainly using Chainlink’s capabilities to their fullest potential, which only benefits LINK’s price. The coin recently hit $25.65, which is its brand-new all-time high.
The post SKALE becomes the third project to integrate Chainlink (LINK) in a week appeared first on Invezz.