OggyInu, a community-driven cryptocurrency project, is pleased to announce its integration of Chainlink Price Feeds on the Binance Smart Chain mainnet. By incorporating Chainlink’s decentralized oracle network, OggyInu gains access to reliable and tamper-proof price feeds, ensuring users have enhanced security and trust in the OggyWallet mobile app.
In this initial integration, OggyInu will utilize Chainlink Price Feeds for popular trading pairs such as BTC/USD, BNB/USD, ETH/USD, and LINK/USD. Chainlink was chosen as the preferred Oracle solution due to its seamless integration process and proven track record in the industry. Chainlink has already secured leading decentralized finance (DeFi) protocols that manage billions of dollars in smart contract value, providing robust security even during unexpected events like exchange downtime or flash crashes.
Features brought by this partnership
The OggyWallet app offers users a reliable way to track coins and assess the security and safety of contracts. The aim is to instill confidence among users when participating in the cryptocurrency market, with the ultimate goal of global adoption.
To ensure the security of their Price Feeds, OggyInu required real-time asset prices sourced directly on-chain in a highly reliable manner. Chainlink Price Feeds fulfilled this need by aggregating price data from premium data aggregators, incorporating volume-weighted averages from hundreds of exchanges while eliminating outliers and wash trading. This data aggregation model ensures accurate global market prices resistant to manipulation.
The Chainlink network guarantees security through independent, security-reviewed, and Sybil-resistant oracle nodes operated by leading blockchain DevOps teams and data providers. These nodes maintain a strong track record of reliability, even in high gas price scenarios and infrastructure outages. Furthermore, Chainlink’s decentralized network architecture ensures robust protection against downtime and tampering.
Chainlink’s reputation system adds an extra layer of trust, allowing users to independently verify node operators’ and Oracle networks’ historical and real-time performance. This transparency reinforces the reliability and integrity of Chainlink Price Feeds.
Greedy Founder of OggyInu expressed their confidence in the collaboration, stating, “We chose Chainlink because it is one of the world’s leading tokens, and its technology is widely recognized. We always prioritize the best user experience for OGGY.”
Chainlink is the industry-standard Web3 services platform that facilitates trillions of dollars in transaction volume across various sectors, including DeFi, insurance, gaming, and NFTs. As the premier decentralized oracle network, Chainlink empowers developers to build feature-rich Web3 applications with seamless access to real-world data and off-chain computation on any blockchain.
