Hedera Collaborates With Chainlink To Improve RWA And DeFi

HBAR crypto assets. (Photo; Doc. Mexc)

JAKARTA - A blockchain platform known as hashgraph technology for fast transactions and low costs, Hedera has just announced its partnership with Chainlink to integrate feed data and Proof of Reserve (PoR).

This step aims to strengthen the decentralized financial ecosystem (DeFi) and emerging tokenization assets (RWA), by providing safer and more transparent solutions for developers and users.

This collaboration between Hedera and Chainlink not only combines two leading technologies, but also opens up new opportunities for blockchain-based applications. Chainlink, which has long been known as the industry's leading oracle provider, will provide more accurate and reliable market data to support the operation of various decentralized financial protocols.

This is very important, considering that DeFi relies on market data that is appropriate to run efficient and secure smart contracts. With this integration, Hedera can now provide more secure and transparent outside blockchain (off-chain) data.

Data on asset prices collected from various sources can be processed and submitted to the blockchain in a more decentralized way. This reduces the risk of data manipulation that can harm users and application developers on the Hedera network.

One of the new features presented is Chainlink's Proof of Reserve, which allows applications in Hedera to verify real-time asset guarantees or backups. With PoR, Hedera can ensure that the outstanding tokens have sufficient and reliable reserves. This feature is essential to increase transparency and reduce potential risks such as under-collaterization that can harm investors and users.

This step is also expected to strengthen Hedera's position in the DeFi world. By adopting Chainlink standards, Hedera is now strengthening its commitment to providing a secure, transparent, and accessible blockchain ecosystem by more developers and users.

Previously, Chainlink had secured more than 10 billion US dollars (Rp160 trillion) through its oracle services on various blockchain networks, and now integration with Hedera will open up great opportunities for the development of a more secure and efficient DeFi application.