Chainlink data streams run directly on the Avalanche Network
Oracle Networks has launched its Chainlink data streams product on the Avalanche network. GMX, a decentralized perpetual futures trading platform, has pioneered the development of the perpetual futures protocol using real-world market information provided by data streams.
ChainLink's data streams differ from traditional “push-based” oracles, which verify data on a chain at regular intervals or when certain thresholds and parameters are met. Instead, Data Streams relies on a “pool-based” verbal model that delivers off-chain market data on demand with low latency.
This is especially important for perpetual futures platforms like GMX, where traders need real-time access to raw, high-frequency price data and cannot wait for onchain confirmation each time the data is required.
Chainlink data streams still validate the data on-chain, but it is only necessary when onchain validation is called for – just like an actual transaction.
Following the deployment of ChainLink Data Streams on the Avalanche network, Johan Eide, Chief Business Officer of ChainLink Labs, said:
“By providing unmatched speed and resilience, data streams enable DeFi protocols to deliver extremely fast and high-volume DeFi products while maintaining the high security guarantees of Onchain Finance.”
Related: Chainlink co-founder notes importance of word-of-mouth networks following NYSE crisis.
Chainlink has developed in 2024
Chainlink continues to deploy its products in the blockchain landscape. In May, the Oracle vendor announced a merger with Silo to provide users of the Ethereum Layer-2 network with the Chainlink CCIP Interoperability Protocol.
Recently, Chainlink's automation features and CCIP protocol went live on the Gnosis network, allowing users to offload heavy computing tasks to the Chainlink network, potentially reducing gas bills by up to 90 percent.
Simulation of solid assets
Earlier in 2024, Chainlink announced a partnership with Arta Techfin, a Hong Kong asset management firm, to launch real estate.
Real estate virtualization greatly streamlines the buying and selling of assets, significantly reduces transaction costs, and unlocks the amount of money stored in these solid assets.
Such efficiencies are attractive to institutional and individual investors, explained Kunal Bhasin, KPMG Canada. In addition, real estate tokenization democratizes commercial real estate, allowing smaller players to participate in the commercial real estate sector that is traditionally reserved for large investors.
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