DxFeed has announced the launch of Chainlink oracle node on its mainnet. This move is geared towards attracting developers and DApps using on-chain data sets.
dxFeed, a provider for market data and solutions for business in the financial sector, has announced the launch on Chainlink oracle node. The announcement was made on Friday with the company stating that the launch will enable the company to use the blockchain network directly to provide financial data directly. Besides, the company added that with this launch, dxFeed would be targeting DApps and developers to help them trade their market data and solutions over the blockchain network.
The surge of interest in Decentralized Finance (DeFi) has greatly influenced the increased demand for Chainlink. This platform provides data oracles that link the traditional financial systems with the blockchain network.
The launch of Chainlink node
dxFeed launched the integration of Chainlink node in their ecosystem on Friday, 2 April. Speaking during the launch, Dmitri Parilov, who is the managing director at dxFeed, stated that the launch was influenced by the growth of Decentralized Finance. With DeFi having a huge impact on the financial environment, the company saw this as the perfect time to launch the new platform.
Parilov also added that the launch would pace way for dxFeed to sale their premium financial data. With the Chainlink Node, the company has been able to expose their API data to Smart Contracts. This will help dxFeed to bridge the gap between the old financial environment and the blockchain ecosystem. Besides, Chainlink will also authenticate dxFeed’s data, as Smart Contracts will ensure that it is signed before being released.
dxFeed specializes in offering a wide range of premium data to different financial players in the industry. The data offered includes equity options, futures, indices, equities, FX and mutual funds. Their services are also available in numerous exchanges across the world. dxFeed operates under their parent company, Devexperts.
2020 and 2021 have been great financial years for players in the financial industry. The demand for financial data has been on the rise and this has increased the revenues at dxFeed. In 2020, dxFeed recorded a 33% increase in their revenues in 2020.
The head of business development at Chainlink, Daniel Kochis, also commented during the launch and stated that there were thrilled over the launch of Chainlink node on dxFeed’s mainnet. He stated that the move will evolve how DeFi is being used and it will pave way for a new decentralized financial ecosystem.