Chainlink’s industry-leading decentralized infrastructure secures tens of billions of dollars in smart contracts and delivers an array of on-chain datasets to institutions and applications. Among the global organizations already participating in the Chainlink Network are AccuWeather and the Associated Press, whose high-quality data enables web3 developers to build more advanced use cases for smart contracts.
This month, Elwood Technologies, a global fintech building institutional-grade digital assets trading infrastructure, became one of the latest organizations to deliver its data on-chain via Chainlink. Web3 developers can now access Elwood’s broad digital asset pricing data to build diverse DeFi use cases – futures products, yield farming products, prediction markets, etc. – that depend on aggregated and decentralized price data feeds.
The Chainlink ecosystem comprises more than 1,200 applications that have already consumed more than two billion data points via 1,000+ bespoke Chainlink oracle networks. Elwood Technologies’ CEO, James Stickland, told Chainlink Today that Chainlink is the key connecting Elwood to the expanding scope of smart contracts.
“We’re thrilled this integration allows Elwood to contribute to the growing digital asset economy,” Stickland said. “We are now delivering institutional-quality data to the ecosystem, ensuring infrastructure continues to build in this rapidly developing space.”
Importantly, Chainlink’s secure middleware allows established data providers like Elwood to help build web3 without changing their existing infrastructure. In an official statement, Chainlink Labs’ Head of Data Products, Yaser Jazouane, explained the significance of bringing Elwood’s data on-chain.
“By making its aggregated pricing data offerings available through Chainlink, Elwood is able to play a critical role in helping expand the smart contract economy by enhancing the accuracy and security of DeFi applications,” he said.
Chainlink co-founder Sergey Nazarov believes Chainlink’s blockchain agnostic infrastructure – especially its cross-chain communications standard, CCIP, which is set to launch in the second half of 2022 – is poised to enable a fully interoperable multi-chain world. Stickland said Elwood is eager to help realize this potential.
“We appreciate the opportunity to join this exciting ecosystem and work with a world-class data and technology provider like Chainlink.”