Chainlink will start producing data streams on the Avalanche Network
Chainlink launches data streams on Avalanche to improve real-time data access. Data streams introduce pull-based oracles for low-latency data retrieval. The new product adds to Chainlink's expanded range of product offerings.
ChainLink has partnered with GMX to introduce an innovative product called Data Streams on the Avalanche Network, an ever-future trading platform. This new product aims to transform data management for decentralized applications like GMX.
Using Chainlink's cutting-edge data streams, GMX provides the real-time, high-frequency market intelligence essential to a decentralized futures exchange.
Chainlink introduces a “pull-based” model of data streams
ChainLink's data streams differ from traditional “push-based” verbal systems, which regularly update data across the chain at regular intervals or when certain parameters are met. Instead, the Data Streams product uses a “pull-based” model that delivers on-demand market data with minimal latency.
Traditional push-based oracles are well-suited for many applications, but can fall short in situations that require rapid data updates. In contrast, the Goth-based data streams model ensures that data is validated on-chain only when necessary, such as during business execution.
A pull-based approach is particularly useful for platforms like GMX, where traders need quick access to raw, high-frequency price data.
The new model not only improves the speed and efficiency of data recovery, but also maintains the high security standards necessary for onchain finance.
Johan Eide, the Chief Business Officer of Chainlink Labs, emphasized the advantages of this new technology and said that by providing unparalleled speed and resilience of data streams, it allows DeFi protocols to deliver extremely fast and high-volume DeFi products while maintaining high security guarantees for onchain finance.
Chainlink is constantly expanding its product offerings.
Deploying data streams on the Avalanche Network is part of Chainlink's broader strategy to expand its product offerings in the blockchain landscape by 2024.
Earlier this year, Chainlink announced its integration with Silo to provide the Ethereum Layer-2 network with CCIP, an interactive protocol.
In addition, ChainLink automation features and CCIP protocol have been launched on the Genosys network, allowing users to offload heavy computing tasks to the ChainLink network, potentially reducing gas bills by up to 90 percent.
Chainlink is also making progress with asset tokenization. A notable partnership with Hong Kong-based asset management firm ArtaTechFin has been announced to demystify real estate as a traditionally illegal asset class. The partnership lowers transaction costs and opens up liquidity, making commercial real estate investing more accessible to more investors.
