The ZkSync Blockchain Joins Chainlink’s SCALE Program
ZkSync, a layer-2 solutions provider, has joined Chainlink’s SCALE program to expand its blockchain infrastructure. By integrating Chainlink’s “price feeds” service, ZkSync gains access to reliable data on cryptocurrency prices. The SCALE program allows blockchain projects like ZkSync to accelerate smart contract innovation and reduce operational costs. Initially, Chainlink covers the costs of its services for participating projects. As these projects generate income, they can eventually pay for the network’s operational costs. This incentive aims to create more economic value and promote sustainability in the web3 ecosystem.
ZkSync Integrates Chainlink Price Feeds for Smart Contracts
ZkSync, a second-layer blockchain solution developed by Matter Labs, has officially become part of Chainlink’s family by joining the SCALE program. This integration allows ZkSync applications, particularly those in the DeFi sector, to benefit from accurate and consistent data on cryptocurrencies through Chainlink price feeds. Price feeds are crucial in decentralized finance as they provide real-time or historical price information for various assets. By joining SCALE, ZkSync contributes to building a sustainable ecosystem where developers have better access to Chainlink’s web3 services.
Chainlink Economics 2.0 and LINK Token Analysis
The SCALE program is part of Chainlink Economics 2.0, which aims to improve services and reduce operational costs without burdening emerging blockchain projects. LINK, the native cryptocurrency of Chainlink, is used to pay oracle nodes for their services and is integral to the Chainlink ecosystem. After facing criticism about its limited utility in the past, LINK has regained market prominence with recent developments such as staking v.02 and programs like SCALE and BUILD. In terms of price analysis, LINK experienced significant growth in 2020/2021 and has recently seen a price increase of about 170%. The market outlook for LINK remains bullish, with potential targets of $20 and resistance at $19. BTC’s performance and market dominance will also impact LINK’s future.
Hot Take: ZkSync and Chainlink Collaboration Boosts Smart Contract Innovation
ZkSync’s integration into Chainlink’s SCALE program represents a significant collaboration in the blockchain space. By leveraging Chainlink’s price feeds service, ZkSync applications can access reliable data on cryptocurrency prices, maximizing their potential in the DeFi sector. This partnership promotes the long-term growth and sustainability of both ZkSync and Chainlink networks. It enables developers to create highly scalable, feature-rich, and secure applications while reducing operational costs. With the increasing adoption of layer-2 solutions like ZkSync and the continuous development of Chainlink Economics 2.0, the future looks promising for smart contract innovation and the overall web3 ecosystem.
Leo Nomist emerges as a maestro harmonizing the roles of crypto analyst, tenacious researcher, and editorial virtuoso, creating an unparalleled symphony of insight. Amidst the intricate world of digital currencies, Leo’s perspectives resonate like finely tuned chords, capturing the attention of curious minds from diverse horizons. His talent for deciphering complex threads of crypto intricacies blends seamlessly with his editorial finesse, translating intricacy into a captivating composition of understanding.