Chainlink
$30.11 -10.29%
LINK · 4w

Zenfuse is Integrating Chainlink Price Feeds to Settle Prediction Markets

We are excited to announce that we plan to integrate with the most notorious decentralized oracle project in the crypto space, Chainlink! We will be integrating Chainlink Price Feeds to support the new peer-to-peer (P2P) prediction feature.

By integrating the industry-leading decentralized oracle network, Zenfuse will have access to high-quality, tamper-proof price feeds needed by our new prediction markets to function end-to-end. This will provide our users with stronger assurances that the price information referenced during settlements is the most reliable possible.

We chose Chainlink as our go-to oracle solution because its infrastructure is seamless to integrate and time-tested in production. Chainlink already helps secure leading DeFi protocols responsible for tens of billions of dollars in smart contract value, maintaining robust security and high availability even amidst unexpected events, such as exchange downtime, flash crashes, and data manipulation attacks via flash loans.

How Zenfuse leverages Chainlink oracles

Our new prediction feature will allow the Zenfusian community to take a position on the outcome of the crypto market against other users (peer-to-peer). The Chainlink Price Feeds will then be used to determine the beginning and closing of the prediction rounds. By using Chainlink, users will have access to the most reliable and secure oracles in the market for these time-sensitive settlements.

To bring about a fair and secure settlement, we needed up-to-date asset prices made available on-chain in a highly reliable and tamper-proof manner. Fair market asset prices should reflect a volume-weighted average from all trading environments. Thus, we needed to use an oracle to fetch aggregated price data off-chain and deliver it on-chain to be consumed by our application.

After reviewing various oracle solutions, we selected Chainlink Price Feeds because they provide a multitude of critical features such as:

...
Continue on blog.zenfuse.io
Recent news