New Synthetix Exchange Trading Platform Partners with Chainlink for Decentralized Price Feeds

Synthetix announced earlier this week its partnership to Chainlink in a collaboration that will open up new markets to the Synthetix consumers. The partnership was announced earlier in the week on the official blog of Synthetix stating a commitment to allow developers and users to run an oracle on Chainlink to obtain real-time prices on Synths (the name for synthetic assets) on the exchange.

The announcement is an important step towards greater decentralization of the Synthetic exchange. Furthermore, security and censorship of users’ assets are enabled through a distributed collateral pool of crypto assets on the system.

Synths are crypto-backed synthetic assets that track the value of underlying assets and allow exposure to an asset without the requirement of actually holding it.

The founder of Synthetix, Kain Warwick, expressed his gratitude in the latest partnership with Chainlink, hailing it

“an important step for both decentralization and interoperability within the Ethereum ecosystem.”

Kain further remarked on the pro-efficiency of Chainlink as a global oracle stating the company’s future in influencing data in future.

“Integrating with Chainlink will allow Synthetix to continue to execute on its path towards greater decentralization through user participation.”

Synthetix becomes the fourth company to partner with Chainlink in the past month joining Naka Chain, Celer Network and Katallassos. The decentralized oracle allows most companies to set up smart contracts and access off chain data feed and Web APIs. The growth of Chainlink has been swift since inception benefiting heavily from the highly secure, efficient and trustless oracle data the platform provides.

The blockchain oracle has been named as one of the most innovative projects in the industry by independent research companies including Gartner.

Today's Bitcoin (BTC) Price Prediction: Latest Ethereum (ETH), Ripple (XRP) and BCH Analysis

Get Free Email Updates!

*Action* Enter Best Email to Get Trending Crypto News & Bitcoin Market Updates

I will never give away, trade or sell your email address. You can unsubscribe at any time.

Bitcoin Exchange Guide News Team
B.E.G. Editorial Team is a gracious group of giving cryptocurrency advocates and blockchain believers who want to ensure we do our part in spreading digital currency awareness and adoption. We are a team of over forty individuals all working as a collective whole to produce around the clock daily news, reviews and insights regarding all major coin updates, token announcements and new releases. Make sure to read our editorial policies and follow us on Twitter, Join us in Telegram. Stay tuned. #bitcoin

[Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

[Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer


Please enter your comment!
Please enter your name here


Live Bitcoin Price & Latest BTC Charts

Today's Latest Crypto News

BitcoinExchangeGuide is a hyper-active daily crypto news portal with care in cultivating the cryptocurrency culture with community contributors who help rewrite the bold future of blockchain finance. Subscribe on Google News, see the mission, authors, editorial links policy, investment disclaimer, privacy policy. Got News? Contact us, we are human too. Note: nothing here is financial advice, do your own research thoroughly.

Start Using Crypto Today