CoinCodex to Launch a Chainlink Node, Providing Signed Crypto Data to Smart Contracts
CoinCodex is launching a Chainlink node
CoinCodex, a premium cryptocurrency price and market data aggregator, is excited to announce the upcoming launch of our official Chainlink oracle node. We look forward to servicing DeFi dApps with cryptographically signed on-chain market data, giving them access to historical and real-time cryptocurrency data with strong guarantees that it’s directly from our API. Integrating with Chainlink empowers us to supply our data across hundreds of different blockchains so we can support DeFi’s growth on Ethereum and beyond.
Chainlink has established itself as the market-leading oracle solution, already securing billions in value across DeFi protocols via secure and reliable Price Feeds. By joining its network as a high-quality data provider, developers on any blockchain will have on-chain access to our full set of APIs, allowing them to build data-driven DeFi protocols like AMMs, stablecoins, synthetic assets, prediction markets, and more.
High-quality data for DeFi innovation
Supplying DeFi smart contracts with aggregated cryptocurrency prices and crypto-market data is critical for the DeFi ecosystem. Our API gives developers access to thousands of cryptocurrency prices across multiple formats, such as real-time or historical, aggregated or single exchange, and multiple degrees of variations in between. Our most popular price data are cryptocurrency prices aggregated across the entire market and adjusted for volume to give users a fair market price. We can also provide plug-n-play data APIs for exchange volume and cryptocurrency market cap, as well as develop custom API data feeds for users building specialized financial products or those wanting a specific weighted basket from a select few exchanges.
Most DeFi products need access to data generated and/or stored outside of blockchain networks in order to properly function, such as aggregated asset prices to check a loan’s collateralization or the total market cap to settle a prediction market. Since blockchains cannot make external API calls on their own, they require a blockchain oracle to bring off-chain API data on to the blockchain. Oracles are middleware that retrieve external data on behalf of the smart contract, attest to its origin through digital signatures, aggregate it when multiple sources/nodes are involved, and broadcast it onto the blockchain so smart contracts can use it in their execution.
Becoming a Chainlink node operator presents a clear and immediate opportunity for us to expand our data into new markets by serving the emerging customer base forming within the smart contract economy. We opted to utilize Chainlink’s oracle technology because they provide a suite of proven features not found in other oracle solutions, such as:
• Data Integrity – As a node operator, we are able to cryptographically sign each data point we provide on-chain, serving as a secure and reliable attestation of its origin.
• Multi-Blockchain Access– Chainlink nodes are blockchain-agnostic and can be integrated into any blockchain, giving us a single gateway for selling data into all current and future blockchains.
• Market Adoption – Chainlink is the most widely used oracle network in DeFi and secures the most value ($4B+ USD) on mainnet, proving itself as the industry standard oracle solution with a larger consumer base for us to tap into.
• Security Focused – Chainlink is thoroughly audited open-source software built upon strong academic research and maintained by a large and growing developer community, showcasing their commitment to transparency and security.
We are excited to join the Chainlink Network to help define the future of DeFi. We are also committed to building a sterling reputation backed by quality APIs and cryptographically-signed on-chain data feeds. In addition to supplying price data, our aim is to expand our API services and ecosystem support by exploring the provisioning of exchange reputation data and other customized APIs for more advanced smart contract designs.
“Through our Chainlink nodes, developers across any blockchain can rely on CoinCodex as a reliable and quality on-chain data provider to trigger their smart contracts, as well as get customized API datasets for specialized DeFi requirements,” said CoinCodex Co-Founder Marko Stokelj. He continued:
“We look forward to using Chainlink’s secure oracle technology to not only supply data on-chain, but provide definitive verification that it’s from our API. These superior guarantees mixed with our high data quality enable us to expand our business model on-chain and earn additional revenue with little backend modifications to our API infrastructure.”
Chainlink is the most widely used and secure way to power universal smart contracts. With Chainlink, developers can connect any blockchain with high-quality data sources from other blockchains and real-world data. Managed by a global, decentralized community of hundreds of thousands of people, Chainlink introduces a fairer model for contracts. Its network currently secures billions of dollars in value for smart contracts across the decentralized finance (DeFi), insurance and gaming ecosystems, among others.
Chainlink is trusted by hundreds of organizations to deliver definitive truth via secure, reliable data feeds. To learn more, visit chain.link, subscribe to the Chainlink newsletter, and follow @chainlink on Twitter.
CoinCodex is a cryptocurrency market aggregator launched in 2017. The CoinCodex platform provides a comprehensive overview of the cryptocurrency market, listing over 8,500 cryptocurrencies trading on more than 330 exchanges. With live prices, customizable portfolios, price alerts and much more, CoinCodex is designed to be the perfect companion for any cryptocurrency enthusiast or investor.