WINkLink

DeFi

TRON

Security

Chainlink

TRON DAO, one of the largest blockchain ecosystems globally,&nbsp;<a style="text-decoration:none" href="https://www.prnewswire.com/news-releases/tron-dao-joins-chainlink-scale-chainlink-data-feeds-to-secure-6-5-billion-in-tron-defi-tvl-302292245.html">joined</a> the Chainlink SCALE program. TRON will also use Chainlink's Data Feeds for its pricing data needs, replacing WINkLink as its previous oracle.&nbsp;
The blockchain network will also use Chainlink's decentralized oracle services in its DeFi ecosystem, which supports over&nbsp;<a style="text-decoration:none" href="https://defillama.com/chain/Tron">$7.1 billion</a> in total value locked (TVL).
<blockquote>
 “By delivering highly reliable, accurate, and decentralized market data on-chain, Chainlink will further empower TRON ecosystem developers to build next-gen DeFi applications,” Chainlink’s Head of Blockchain Partnerships, Thodoris Karakostas, commented.
</blockquote>
<h2 dir="ltr" id="span-span-tron-s-defi-ecosystem-seeks-stability-and-security-span-span">TRON’s DeFi Ecosystem Seeks Stability and Security</h2>
The TRON network has a robust DeFi ecosystem, anchored by popular platforms like JustLend and JustStable, which rely on secure and accurate pricing data to manage risk and ensure efficient operations.&nbsp;
&nbsp;
According to a recent announcement, Chainlink’s established reputation for secure, reliable, and decentralized data feeds made it a clear choice for TRON as it aims to strengthen the foundation of its DeFi offerings.
&nbsp;
Chainlink is reportedly recognized as the widely used oracle solution in blockchain, currently securing over $16 trillion in transaction value across numerous networks. The platform has also delivered more than 15 billion verified messages on-chain.
<blockquote>
 “We joined the Chainlink SCALE program to accelerate TRON’s DeFi economy by offering developers access to the industry-leading data oracle solution. Chainlink's unmatched security and reliability made it the clear choice,” said TRON DAO’s spokesperson, Sam Elfarra.
</blockquote>
<h2 dir="ltr" id="span-span-inside-the-chainlink-scale-program-span-span">Inside the Chainlink SCALE Program</h2>
The Chainlink SCALE program is designed to provide blockchain ecosystems with access to Chainlink’s industry-standard oracle services at sustainable costs, per reports.&nbsp;
&nbsp;
By joining SCALE, TRON DAO will cover specific operational expenses, such as transaction gas fees, which will eventually be supported by dApp user fees as the ecosystem grows. This cost-sharing structure will reportedly benefit developers by reducing their operating costs, enabling them to use Chainlink’s oracle services without financial strain.&nbsp;
&nbsp;
Over time, as the TRON ecosystem scales, dApps will transition to covering these costs through user fees.
<h2 dir="ltr" id="span-span-tron-dao-s-rising-influence-span-span">TRON DAO’s Rising Influence</h2>
Despite challenges in the current crypto environment, TRON continued to expand its influence, recording considerable quarterly revenues and competing with major blockchains like Bitcoin and Ethereum in terms of financial performance.
&nbsp;
TRON generated&nbsp;<a style="text-decoration:none" href="https://tronscan.org/#/data/charts/revenue">$577 million</a> in revenue in Q3 2024 alone, a record-breaking figure for the network. Staking contributed 74% of this revenue, while 26% came from token burning.&nbsp;
<h2 dir="ltr" id="span-span-chainlink-s-growing-influence-beyond-tron-span-span">Chainlink’s Growing Influence Beyond TRON</h2>
This partnership with TRON is one of many recent advancements for Chainlink. The firm has recently&nbsp;<a style="text-decoration:none" href="https://bsc.news/post/chainlink-and-major-market-players-launch-ai-powered-initiative-to-tackle-unstructured-data-in-finance">partnered</a> with financial institutions like Euroclear and Swift to address unstructured data management in the financial sector using decentralized oracles, blockchain, and artificial intelligence.
&nbsp;
In addition, on Oct. 22, Chainlink&nbsp;<a style="text-decoration:none" href="https://bsc.news/post/chainlink-and-anz-collaborate-on-private-transactions-for-tokenized-real-world-assets">launched</a> its Cross-Chain Interoperability Protocol (CCIP) with a privacy feature aimed at financial institutions. This allows banks to conduct secure, private cross-chain transactions while maintaining regulatory compliance.

TRON DAO Joins Chainlink SCALE, Adopts Chainlink Data Feeds for DeFi Ecosystem

Table of Contents

BSCN

Other articles published on Nov 14, 2024

3 Promising Crypto Coins Poised for Major Gains if Bitcoin Hits $100K by Year-End!

States Accept Bitcoin as Tax Payments Grow

UK government to introduce legislation on stablecoins, staking: report

PEPE and WIF Set for Bullish Rallies Following Big Listings: What to Expect Next?

Get Ready for a New Level of Excitement If You Missed Ethereum ICO: Qubetics Could Redefine Success

Did the Binance Train Leave Without You? Here’s Why Qubetics Might Be the Best Coin to Jump On Th...

Join our free newsletter for daily crypto updates!