- Chainlink’s Data Streams were launched on the Scroll Mainnet on January 29, enhancing the capabilities of decentralized finance applications in the ecosystem.
- Integrating Chainlink’s powerful oracles will allow developers to build advanced dApps capable of seamlessly interacting with diverse data types and blockchain networks.
On January 29, Chainlink announced the launch of its Data Streams on Scroll, a zero-knowledge-proof-powered scaling solution for Ethereum. This integration provides developers on Scroll’s zkEVM platform with access to Chainlink’s low-latency market data, enabling the creation of advanced decentralized finance (DeFi) applications.
Raza Zaidi, Head of Growth at Scroll, expressed his enthusiasm about the new collaboration, stating:
We’re excited to see the standard for low-latency market data live on Scroll. Chainlink Data Streams enable Scroll developers to build high-performance dApps underpinned by Chainlink’s decentralized, credibly neutral infrastructure. This provides developers with the tools to unlock new possibilities in DeFi innovation as we continue to build the Open Economy.
How Chainlink’s Data Streams Will Benefit Scroll
The press release highlights that with the integration of Chainlink’s Data Streams, developers on Scroll will gain access to decentralized, real-time market data with minimal delay, along with automated execution capabilities. This means that decentralized applications (dApps) built on Scroll can operate with high speed and efficiency, similar to centralized exchanges, which are known for their fast transaction processing and smooth user experience.
Despite achieving this speed, Scroll will continue to uphold key blockchain principles such as security and decentralization. By reducing reliance on centralized data sources and intermediaries, the platform ensures that transactions and data retrieval remain trustless and transparent.
This further allows developers to access real-time data without waiting for periodic updates, thus enabling Scroll to offer more dynamic and responsive dApps. This improvement is particularly significant for high-frequency trading applications in decentralized exchanges (DEXs), which require up-to-the-second data to remain competitive with centralized alternatives.
Scroll’s collaboration with Chainlink began back in August 2023 when Scroll joined Chainlink’s Scale program. This partnership provided Scroll’s developers with access to expert technical support and the full range of services offered by Chainlink.
The collaboration helped accelerate the development of Scroll’s ecosystem and paved the way for Scroll’s mainnet launch in October 2023 after two years of development. Since then, Scroll has continued to grow, forging partnerships with major players in the industry, such as Ether.fi, Alchemy Pay, and Nansen.
As mentioned in the blog post, institutions in the financial market, such as Swift, Fidelity International, and ANZ Bank, as well as top decentralized finance protocols like Aave, GMX, and Lido, already utilize Chainlink to fuel innovative applications in banking and asset management.
At the time of writing, Chainlink (LINK) is valued at $24.50, reflecting a 0.36% dip over the past 7 days. Despite this decline, LINK has demonstrated resilience with a notable 4.48% gain over the last 24 hours. This performance underscores LINK’s capacity to recover and sustain investor confidence amid fluctuating market conditions.
