Why is Integration of Chainlink with 6 Blockchains Making Buzz?

• 1 Chainlink is a decentralized Oracle network integrating its services with 6 different blockchains. 
• 2 The main integration networks are Aptos, Arbitrum, Celo, Ethereum, etc..
• 3 At Consensus 2024, Chainlink’s co-founder discussed fund tokenization and barriers between TradFi and DeFi. 

On June 3, Chainlink revealed its latest update on the ongoing integration program. The network integrated its 5 services across 6 blockchains, including Ethereum, Aptos, BNB Chain, Celo, Arbitrium, and Polygon.   

The adoption update was scheduled to take place between May 27 and June 2, 2024. 

Chainlink Adoption Update 

Chainlink, the universal platform for builders and financial institutions, was making buzz with its latest updates, upgrades, and integrations. On June 3, the network announced 12 integrations of 5 services across 6 blockchains over X.  

As per the tweet, the 12 integrations include Aptos, Arcas Champions, Celo, ZkGun, etc., over blockchains. On May 29, Celo integrated Chainlink Cross Chain Interoperability Protocol (CCIP), and Aptos announced its successful integration with Chainlink On May 31. 

Chainlink services and CCIP integration over blockchains empower developers to create next-generation decentralized applications (dApps) and low-cost, secure Chainlink Web3 services. 

As a successive step, Chainlink’s co-founder Sergey Nazarov, unveiled Chainlink’s roadmap toward the global Internet of contracts at Consensus 2024. 

Chainlink’s Roadmap Toward Global Internet Of Contracts

At Consensus 2024, Nazarov outlined Chainlink’s plans for bridging the Decentralized Finance (DeFi) and capital market into a single chain.

“Fund tokenization is likely one of the biggest classifications of real-world assets that’s just now emerging and dependent on critical data like net asset value data,” said Nazarov.

Nazarov also uncovered that the platform is actively working to dissolve the barriers between TradFi and DeFi. Integration with the existing systems and standards would work well to mitigate the barriers, Nazarov added.   

Chainlink’s Upcoming Discussions are on the Way

The decentralized Oracle network also announced its multi-trillion-dollar tokenization opportunity. The platform is all set to discuss tokenized assets in New York City on June 7 with JPMorgan Chase & Co.

The ‘Blockchain and Digital Assets Happy Hour’ event is scheduled for June 7 from 6-9 PM ET to reshape the financial system.    

Moreover, the gradual updates from Chainlink positively influenced the LINK price. At press time, LINK hovered at $18.11 after a 1.63% intraday drop with a market cap of $10,632,112,333. 

Despite the drop, LINK showcased an outstanding surge of 6.07% in the past 7 days, spiking from $17.17 on May 27 to $19.02 on May 29 and standing at $18.11 at the press time. 

The surge in LINK price showcases increased interest of investors and traders towards the respective network. Moreover, regular updates and integration seek individuals’ attention to the respective token.  

Adarsh ​​Singh

Adarsh Singh is a true connoisseur of Defi and Blockchain technologies, who left his job at a “Big 4” multinational finance firm to pursue crypto and NFT trading full-time. He has a strong background in finance, with MBA from a prestigious B-school. He delves deep into these innovative fields, unraveling their intricacies. Uncovering hidden gems, be it coins, tokens or NFTs, is his expertise. NFTs drive deep interest for him, and his creative analysis of NFTs opens up engaging narratives. He strives to bring decentralized digital assets accessible to the masses.