Beam Announces Integration with Chainlink’s Price Feeds for DeFi Apps
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Beam Announces Integration with Chainlink’s Price Feeds for DeFi Apps

November 28, 2020      Vandana Malik

Beam, a blockchain network, has announced its integration with Chainlink’s price feeds. This integration is made to help the DeFi app developers in app development. The initial part of this integration will use Chainlink oracles which will support Beam’s ERC-20 bridge. It is used to move assets between Ethereum and BeamX blockchains. 

Beam network is quite confident about choosing Chainlink as it stated that the price oracles of this network are capable of securing billions of dollars. Hence, there is no doubt behind choosing this network for its price oracles. 

Beam to Implement Price Feed Workflow Through Chainlink External Adapter

Beam has also revealed that it will be implementing the price feed workflow through Chainlink External Adapter. Through this, it will be a lot easier for the Chainlink nodes to write information on the Aggregator Contracts. These contracts will be highly beneficial for application-specific smart contracts as they will run on the BeamX blockchain. 

The firm has earlier announced that they are expecting to launch the BeamX mainnet in the first half of 2021. Even though BeamX is not launched yet, Beam coin has been in the market since January 2019. It is a privacy-focused coin that is highly scalable and gives full control to the users over their data. 

Joining Other Projects Integrated With Chainlink

There are plans to use Beam’s reliable price data for all the dApps that are built on its platform. Beam has also joined other projects that have collaborated with Chainlink recently. The recent one among all is Base Protocol, along with Synthetix and Kyber Network. In total 315 projects have integrated with Chainlink and the recent ones are 29 that took place in October 2020. Among the 315 projects, 74 are blockchains, 44 nodes, 23 data providers, and 98 DeFi projects. The large part is of DeFi projects as there have been huge surges in this sector, lately. Even though the Beam network has stated that it is joining with other recent integration with Chainlink, it has still not clarified which ones. 

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#Beam #BeamX #BeamX mainnet #Chainlink External Adapter #Chainlink’s Price Feeds #Defi apps
Vandana Malik
Vandana Malik

Vandana has received Master of Arts degree in English from GEU Dehradun. She is currently working as a content writer with Agio Support Solutions and earlier worked as a sub-news editor at Business News and Information Services Private Limited. She is an enthusiastic content writer and aims to bring a compelling yet informative content to the audience. Meanwhile, enhancing her own knowledge in the cryptocurrency and blockchain industry.