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Cryptogambling / zkSync Era boosts Layer-2 capabilities with Chainlink price feed integration

zkSync Era boosts Layer-2 capabilities with Chainlink price feed integration

Publish Date: 13/12/2023
d Chainlink, tags: zksync era price feeds layer-2 - upload.wikimedia.org

d Chainlink – upload.wikimedia.org

zkSync Era, a Matter Labs-backed Layer-2 network, has integrated Chainlink’s price feeds into its system as part of the Oracle blockchain’s Sustainable Chainlink Access for Layer-1 and -2 Enablement (SCALE) initiative.

zkSync Era stands as one of Ethereum’s leading layer-2 scaling solutions, hosting over $500 million worth of digital assets locked on the network, according to data from L2beat. This move aims to lower the gas fees for Chainlink nodes when they submit Oracle reports for Data Feeds on zkSync Era.

Chainlink’s price feed is a vital blockchain tool linking smart contracts with real-world data, such as asset prices. Its Oracle network guarantees dependable data delivery by collecting information from diverse sources through a decentralized network of independent node operators.

Many Decentralized Finance (DeFi) applications, such as lending and borrowing protocols, depend on this price feed for their services to run seamlessly. Integrating zkSync will offer developers better access to high-quality Oracle data.

Marco Cora, Senior VP at Matter Labs, highlighted the importance of Chainlink price feeds, emphasizing their role as essential infrastructure benefiting users and developers.

“Chainlink Price Feeds is a critical and industry-standard infrastructure that has wide reaching benefits for developers and users alike. Combined with our new prover, Boojum, and with our unique design around state differences, it will make zkSync the cheapest rollup for Oracle updates. This will open up a new design space to pave the way for new innovation and use cases,” Cora said.

Johann Eid, chief business officer at Chainlink Labs, emphasized how this integration reduces operating expenses for Chainlink nodes, allowing zkSync to provide essential services for creating extremely secure and scalable applications.

On the other hand, Chainlink recently announced in a social media post that over 19 million extra LINK tokens had been staked in less than seven hours after the early access began.

“We want to thank the community—both v0.1 migrators and new stakers—for participating in the v0.2 launch and putting 40,875,000 LINK to work to help secure the Chainlink Network and the verifiable web,” said Chainlink.

Even after the Oracle network opened the staking platform to the public on December 11, the pool remains full as none of the existing stakers has withdrawn their assets.

zkSync powers Pudgy Penguin to launch Pudgy World

Pudgy Penguins has announced plans to launch Pudgy World in Alpha Q1 2024. The launch will be powered by zkSync and will be open to two groups, NFT holders of Pudgy Penguins and owners of Pudgy Toy.

Built on Ethereum and zkSync, Pudgy World focuses on speed, user experience and affordability. The ecosystem aims to encompass these traits while upholding Web3’s core values.

zkSync is optimistic about Pudgy World’s potential for scaling and widespread adoption soon. This could pave the way for a Web3-powered future of gaming, introducing the next generation of gamers to blockchain technology through Pudgy World.

Pudgy Penguins will be testing Pudgy World with the community leading up to the launch. It will first appear at the Pudgy Miami Art Base event.

Earlier in June, Pudgy Penguins were featured alongside renowned characters at the Las Vegas Licensing Expo.

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