We are excited to announce that price feed oracles enabled by Zilliqa’s Chainlink Community Deployment are now live on mainnet.
These feeds act as price oracles, allowing builders on the Zilliqa network to access reliable pricing data for tokens from external sources.
Zilliqa’s Chainlink Community Deployment comprises a custom implementation of Chainlink technology that enables price feed functionality which is not managed by Chainlink Labs.
Currently, both the Zilliqa mainnet and testnet now include data feeds for ZIL-USD and USDT-USD trading pairs.
The introduction of these price feeds is immensely useful as it enables builders to both create more robust dApps (decentralised applications) as well as port over popular dApps from other EVM networks that are not currently available on Zilliqa.
By adding price feed oracles to Zilliqa, we hope to see more developers building new applications which were not previously possible to deploy on the Zilliqa EVM network.
We encourage developers to check out our tutorial on integrating these price feeds into their dApps and to reach out to the Zilliqa team for additional support on building applications that integrate data from the Chainlink Community Deployment.
Bridging the Zilliqa network to real-world data
The Chainlink Community Deployment acts as a bridge between the Zilliqa network and real-world information, allowing smart contracts running on the blockchain to access accurate and trustworthy information from the outside world.
Smart contracts are self-executing programs which run autonomously on the blockchain. They automatically execute when certain conditions are met, and these conditions can be based on data gained from data feeds, such as the price change for a specific token.
As smart contracts can natively only read information published on the blockchain, data feeds offer a way for these programs to access real-world information such as external token prices, weather reports, or even sports scores.
You can think of this process as going out into the real world to find this information and make it accessible to smart contracts running on the Zilliqa network.
To do this, the Chainlink Community Deployment implemented on Zilliqa uses “oracles” - trusted messengers that bring real-world data back to smart contracts running on the blockchain.
Now that price feeds are available to smart contracts on the Zilliqa mainnet and testnet, developers can take advantage of this reliable stream of information to build new and exciting applications that interact with real-world data and changes in token prices beyond assets on the Zilliqa blockchain.