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Huobi Set to Become the First Exchange to Run on a Chainlink Node

Leading digital exchange platform, Huobi Global has announced on its website that it is on its way to debut a Chainlink node. With this recent development, Huobi Global will be the first crypto platform around the globe to debut the Chainlink node and integrate its price days in the node. According to the statement published by the exchange, Huobi will use Chainlinks external adapters to make the Huobi API available to smart contracts. If this is done, it will allow developers to access the exchange price data. With the new development, Huobi has promised to intensify its services to better serve its customer base.

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Chainlink will provide open and transparent services.

According to the announcement, the list of supported pairs will be BTC/ETH, BTC/USDT, ETH/USDT, and LINK/ETH. Recall that Binance was the first-ever digital exchange firm to provide their data on Chainlink oracles bit Huobi will go down as the first exchange to run its node through the Huobi wallet. The node will allow the crypto exchange to sign its price data, which users will use to verify the authenticity.

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According to the CEO of Huobi, Will Huang, DeFi space offers a unique variety of “unique value proposition of providing financial products that are transparent, open, and programmable.” Continuing his statement, the CEO said, We are very excited to accelerate our involvement in this emerging trend by providing Chainlink users access to Huobi Global exchange data and running our Chainlink Node.

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New Chainlink will provide a smart contract with real data

In its statement, Huobi Global noted that they had acquired cast knowledge across the years in operating proof of stake nodes. The exchange’s wallet already holds assets going to the tune of $10 million in assets for projects like ATOM, Ontology, and ZOOM. With the new node in place, the exchange said that they would be able to decentralize oracle data on Chainlink. The post also talks about how Chainlink has been able to establish itself as one of the most crucial entities in the moving of blockchain adoption.

Huobi noted that Chainlink provides smart contracts with real-world data, off-chain events, and traditional payment platforms. Also stressing in their post, Huobi mentioned how Chainlink had been the most deployed oracle in the DeFi ecosystem and its integration into various blockchain projects, including Tezos, Polkadot, and Cosmos. It works with large enterprises such as Google,  Oracle, and Swift.

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Ifeanyi Egede

Ifeanyi Egede is a new writer on Tokenhell, his articles are cryptocurrency news and platform review based. We recommend following his latest posts as they are always very informative and super interesting.

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