Chainlink, a leading blockchain technology company, recently launched Data Streams on the Avalanche Network in collaboration with GMX, a perpetual futures trading platform. This new product is designed to improve data handling for decentralized applications like GMX by providing real-time, high-frequency market data.
Unlike Chainlink’s traditional push-based oracle systems, Data Streams utilizes a pull-based model that retrieves off-chain market data on demand with minimal latency. This approach is particularly beneficial for platforms like GMX, where traders require instant access to raw, high-frequency price data.
Johann Eid, Chief Business Officer at Chainlink Labs, highlighted the advantages of this new technology, stating that Data Streams enable DeFi protocols to offer ultra-fast, high-throughput DeFi products while maintaining the security standards of on-chain finance.
The launch of Data Streams on the Avalanche Network is part of Chainlink’s broader strategy to expand its product offerings in the blockchain industry. Earlier this year, Chainlink integrated with Celo to provide the Ethereum layer-2 network with its CCIP Interoperability Protocol. Additionally, Chainlink’s Automation features and CCIP protocol were introduced on the Gnosis network, allowing users to offload heavy computing tasks to the Chainlink network and potentially reduce gas fees by up to 90%.
Chainlink is also focusing on asset tokenization, with a recent partnership announced with Arta TechFin, an asset management firm based in Hong Kong. This collaboration aims to tokenize real estate, a traditionally illiquid asset class, to lower transaction costs and unlock liquidity, making commercial real estate investment more accessible to a wider range of investors.
Overall, Chainlink’s Data Streams product on the Avalanche Network represents a significant step forward in improving data access and efficiency for decentralized applications. With its innovative pull-based model and strategic partnerships, Chainlink continues to lead the way in blockchain technology and product development.