The Huobi Global exchange made history on Jul 03 as it became the first cryptocurrency exchange to run a Chainlink node. The exchange will utilize Chainlink external adapters to broadcast price data to the smart contracts through its API. The initial data oracles being launched are BTC/ETH, BTC/USDT, ETH/USDT, and LINK/ETH, though more will be added later. The exchange will sign its own price data also, providing guarantees of genuineness to users and developers, that its indeed coming from the Huobi node.
One of the world’s top cryptocurrency exchanges @HuobiGlobal is making its exchange data available to smart contracts through the #Chainlink Network. Additionally, @HuobiWallet is currently running a live Chainlink Node.— Chainlink – Official Channel (@chainlink) July 3, 2020
It is expected that Huobi experience with operating secure and reliable infrastructure will result in an another high quality source for data and assist with node decentralization on Chainlink. The move will further advance the Decentralized Finance (DeFi) ecosystem, being built majorly on Ethereum, for which Chainlink is the premier and most used off-chain/on-chain data source. The partnership is in line with Huobi’s mission to support DeFi eco-systems.
CEO of Huobi Wallet, Will Huang noted that “DeFi offers a unique value proposition of providing financial products that are transparent, open, and programmable. We are very excited to accelerate our involvement in this emerging trend by providing Chainlink users access to Huobi Global exchange data, as well as running our own Chainlink Node. We want to accelerate the growth of DeFi, and we feel that supporting Chainlink’s critical oracle services are key to enabling DeFi to take the next step in its evolution.”
“We’re excited to help Huobi make it’s exchange data available to the DeFi market, both by onboarding them as a Chainlink node operator and using Chainlink external adapters to make the Huobi exchange API accessible to smart contracts.” –Sergey Nazarov, Co-founder of Chainlink
Chainlink is a decentralized data oracles service, which connects smart contracts to off-chain real world events information. The oracles are secure, resistant to manipulation and thus reliable. The main product Chainlink price reference contracts consists of 30 DeFi price feeds, on the Ethereum network, each consisting of 7 to 21 secure, independent Sybil resistant nodes, sourcing data from a high quality aggregator.