Radix adds Chainlink project to simplify DeFi accessibility to developers
By Inkarias - 2020-10-07
Radix is the first layer-one protocol specifically built to serve DeFi. Decentralized finance applications are currently built on protocols that are not fit for purpose, leading to congestion, hacks and developer frustration. Radix changes this by introducing a scalable, secure-by-design, composable platform with a DeFi specific build environment to make it easy to build and launch scalable DeFi applications. To build a layer 1 protocol specifically to serve DeFi , Radix project had to redesign several key ways in which DeFi applications are built. Scalability and security are important factors here, but so too is the ease in which DeFi applications are developed and deployed. To that end, Radix has created a new form of “smart contracts” called “components”. These provide a new method of building DeFi applications that are designed specifically for the needs of finance.
Because Components are inherently modular and composable, a special oracle Component can become a seamless gateway to Chainlink data for the Components our developers will build. After reviewing different oracle solutions, the team has chosen to work with Chainlink to integrate their data oracles to a special oracle interface Component on Radix. These data feeds provide the developers with high-quality prices , decentralized oracle and sybil resistant nodes.
Working with Chainlink, the first phase of integration will include two distinct parts:
Additions to the Chainlink Node software to allow it to connect directly to the Radix network
Creation of the native Radix “smart contracts” needed to make Chainlink data available on Radix.
On the Chainlink Node side, two modules called an Initiator and an Adapter will let Chainlink nodes interact with radix using the native libraries connecting Chainlink to Radix similar to Chainlink’s existing integrations to other blockchains in the ecosystem.
More information on this new integration at https://www.radixdlt.com/