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Ethereum Classic

Chainlink joins the RIF ecosystem


Amid the impressive boom that decentralized finance (DeFi) has seen in recent days. Some projects have managed to increase their weight in the market more than others. With Chainlink being the best performing cryptocurrency in the last three months, occupying the position of the most important DeFi project in the world. Therefore, it is important to know that it continues to expand, now that Chainlink is integrated into the RIF ecosystem.

Chainlink and DeFi

Chainlink is not a new project in the crypto market. On the contrary, since 2017 Chainlink has existed as one of the most promising DeFi projects. Creating a system through which smart contracts created in any Blockchain can communicate with platforms external to cryptocurrencies such as a bank account. This allows the execution of smart contracts, even with products that have no relation to Blockchain technology.

, Chainlink joins the RIF ecosystem, Forex-News, Forex-News
Chainlink joins the RIF ecosystem amid its price boom. Source: CoinMarketCap

However, until this year Chainlink had not been more than that, a promise that did not finish curdling. Until thanks to the boom that DeFi is experiencing within the crypto market, this project has become one of the most important cryptocurrencies in the world. Multiplying its market capitalization, and positioning itself in all the headlines of the crypto community.

Thanks to this, Chainlink’s collaborations with other projects multiply with each passing day. In an attempt by the platform to ensure its relevance after, inevitably, the DeFi fever subsides and millions of dollars stop flowing daily to the market. Reason why it would now be integrated into the RIF ecosystem.

Entrance to RIF

Thus, today RIF has announced the integration of Chainlink within its RIF Gateways service. Which allows developers who work with the RSK Blockchain for the creation of smart contracts, the establishment of connections between these smart contracts and resources external to the crypto world.

Which is why leveraging Chainlink’s capabilities in this area is an important advance for RIF. Counting from now on the oracles of Chainlink to create connections between the Blockchain and platforms external to it.

While, for its part, Chainlink would become part of the DeFi ecosystem of Bitcoin. Since, until now, Chainlink had developed its capabilities exclusively on the Ethereum blockchain. But since RSK works on a Bitcoin-based platform, by integrating with RIF, Chainlink would automatically participate in the DeFi community in BTC.

With this move, we can observe how Chainlink continues its consolidation process as the leading DeFi project within the crypto world. Joining one of the most important chains for the creation of smart contracts in the market. And therefore, significantly expanding the user base that can take advantage of its capabilities.

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