Here we bring you a very complete video about Chainlink solutions, in JamonSwap we already use some of them such as Keepers and Price Feeds. We are also waiting for them to launch other services to incorporate them to our DEX.
This is certainly a very complete video to understand how Chainlink oracles work and all the services and solutions they offer.
What is Chainlink?
Chainlink is an oracle, not a blockchain as we understand it, but a decentralised network of oracles that connects real-world data with smart contracts. Smart contracts by themselves don’t have that ability to read real-world data.
They are embedded in many different blockchains, and they are growing in terms of adoption of their services.
Chainlink solutions
These are 4 of the main services they already have up and running. And with which you have probably interacted many times without knowing it.
Data Feeds
Data feeds, especially from the financial sector that help to secure many millions in DeFi.
VRF
Mostly used in NFT and gaming projects.
Proof of Reserve
Real-time audits of assets or reserves backing those assets.
Keepers
Task automation to automate and maintain DApps.
Chainlink in JamonSwap
With solutions like Chainlink Keepers and Chainlink Price Feeds, in our DEX we can check the price of tokens in a pair to help set manipulation-proof prices on limit orders. With Chainlink Keepers, we also offer JamonSwap users the ability to set advanced trading orders.
For draws and soon decentralised roulette we use VRF (Verifiable Random Function). This ensures that the results are completely random.
And this is just the beginning, we are looking forward to new releases of Chainlink solutions and services that will make our DEX the most advanced of the decentralised exchanges not only in Polygon (MATIC).
