Consensus Cell Network integrates Chainlink ETH / USD price reference data
Chainlink received a new partnership agreement to provide price reference data. The new agreement includes offering ETH / USD price reference data to the Consensus Cell Network to drive the new market forecasting project.
Consensus Cell Network aims to provide a decentralized lending platform later this year. It will increase association and integration with Chainlink to use more price reference data feeds on the platform.
Using off-chain data to power DeFi efficiently
Consensus Cell Network focuses on nine business areas, including public blockchain technology research, Dapp development, cryptocurrency wallet, applications for off-chain loyalty points, corporate services, charity, venture capital, sports competition and hub research.
His recent partnership with Chainlink focuses on dApp development. The software development team has released some DeFi on the Ethereum blockchain using the CellETF brand.
The natural business approach at Consensus Cell Network, which is the development of DeFi, increases the need for more reliable data sources for assets. It focuses on the characteristics of Ethereum smart contract and oracles are the most common solutions to improve their efficiency. So the team decided to work with the leading Oracle provider, Chainlink.
The Chainlinks Association's first step included launching the Consensus Cell Network price prediction game. The game is focused on predicting the future price of the ETH coin. The two teams seek further integration, especially in the collateralized loan and loan operations that Consensus plans to launch in the fourth quarter of 2020. This platform surely needs a reliable data source to provide the exact price of collateral and loan assets. .
Consensus Cell Network co-founder Oswald Gan expressed his enthusiasm for the integration and said:
“Our mission is to create innovative dApps that deliver unique value to users around the world. We are delighted to be able to greatly expand the capabilities of the Consensus Network through the integration of Chainlink's safe and trustworthy oracles, starting first with your price reference data for our recently launched forecast market. Without the Chainlink oracles, our market launch timeline and our innovation rate for new products would have been significantly delayed, making it a key piece of infrastructure for our current and future success. ”
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