We chose Chainlink because it is the most widely used and time-tested decentralized oracle network. Chainlink Price Feeds have already helped secure $75B+ in value for leading DeFi protocols across the multi-chain ecosystem. For the purposes of building a high-quality NFT marketplace for Nyan Heroes users, Chainlink Price Feeds will enable user-friendly price conversions in our dashboard display.
Why is picking the right price feeds important?
When the game launches and players are on board, we expect to see a significant and consistent inflow of players actively playing and trading on the NFT marketplace. It is critical that Nyan Heroes’ marketplace token prices, which will be supplied on-chain through Chainlink Price Feeds, are delivered in a highly reliable and timely manner so that users have access to accurate price information. Token prices should reflect a volume-weighted average from all trading environments so that we are resistant to any single source of failure. Thus we need to utilize a blockchain middleware solution known as an oracle to fetch aggregated, off-chain price data continuously and deliver it on-chain directly to our NFT marketplace.
By integrating Chainlink Price Feeds, all Nyan Heroes players will have access to high-quality, tamper-proof price feeds that help ensure accurate pricing when interacting with our immersive and dynamic gaming ecosystem and NFT marketplace.
We made the decision to integrate Chainlink Price Feeds after considering a multitude of other price data feed solutions. Features that we found superior in Chainlink:
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- High-Quality Data — Chainlink Price Feeds source data from numerous premium data aggregators, leading to price data that’s aggregated from hundreds of exchanges, weighted by volume, and cleaned from outliers and suspicious volumes. Their data aggregation model generates more precise global market prices that are resistant to API downtime, flash crash outliers, and data manipulation attacks like flash loans.
- Secure Node Operators — Chainlink Price Feeds are secured by independent, security-reviewed and Sybil-resistant oracle nodes run by leading blockchain DevOps teams, data providers, and traditional enterprises with a strong track record for reliability, even during high gas prices and extreme network congestion.
- Decentralized Network — Chainlink Price Feeds are decentralized at the data source, oracle node, and oracle network levels, generating strong protections against downtime and tampering by either a data provider or the oracle network.
- Transparency — Chainlink provides a robust reputation framework and set of on-chain monitoring tools that allow users to independently verify the historical performance of node operators and oracle networks, as well as check the real-time prices being offered.
Our goal first and foremost has always been to make the game sustainable, safe, and fair to all users. With Chainlink Price Feeds, players will be able to freely trade in-game assets with peace of mind that the prices they’re seeing are aggregated by a wide range of data sources and independent oracle nodes.
“Chainlink is the oracle service of choice for Nyan Heroes and we look forward to integrating its real-time price feeds into our game service to provide accurate decentralized data, giving our players peace of mind when they transact on the future NFT marketplace.” – Max, Nyan Heroes Co-founder.
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About Chainlink
Chainlink is the industry standard for building, accessing, and selling oracle services needed to power hybrid smart contracts on any blockchain. Learn more about Chainlink by visiting chain.link or read the documentation at docs.chain.link. To discuss an integration, reach out to an expert.
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