Chainlink launches data oracles on Arbitrum One’s Ethereum scaling solution


Leading data oracle provider Chainlink has announced its successful launch of Arbitrum One – the beta-leading network deployment of a layer-second Ethereum-scale solution, Arbitrum.

Announced on August 12, the to launch will allow developers building on Arbitrum One to access financial market data directly on a chain basis, providing enhanced functionality to decentralized exchanges, algorithmic stablecoins and other advanced DeFi products on the Arbitrum One network.

Many major DeFi protocols have already expressed intent to use Chainlink’s data oracles for their Arbitrum deployments, including Aave, MCDEX, and Tracer DAO. Ed Felten, co-founder of Offchain Labs – the team behind Arbitrum, stated:

“Providing smart contract developers in Arbitrum One with native access to Chainlink’s oracle networks was important to ensure that all smart contract usage cases that exist on the Ethereum blockchain can be seamlessly transported to Arbitrum with near-zero changes.”

While only Chainlink’s price flows in USD are alive at present, the team plans to quickly launch new pricing and data pairs, noting a growing demand for “hybrid in-chain / off-chain smart contracts” in the sports, gaming and non-fungal token sectors.

Chainlink also plans to launch its Controllable Random Function on Arbitrum One, enabling demonstrably fair random number creation for games and other applications. The Chainlink Backup Service trial will also be launched at Arbitrum One, allowing you to monitor collateral assets and name any online API.

Related: Layer 2 network Arbitrum ships guard launch, attracts major DeFi protocols

Offchain Labs launched Arbitrum One in late May, marking a major milestone in the growth of Ethereum’s two-ecosystem. The network has since attracted many leading teams building on Ethereum, including Reddit, Uniswap, and Sushi Exchange – who this week described Arbitrum as a “credibly neutral” solution as opposed to rival accumulations solutio Optimism, which refused to whitewash the exchange.

Optimism has also made significant recent progress, with Synthetix enabling trading with the two-scale layer solution two weeks ago.