Plexus Partnering with Chainlink to Improve Cross-Chain Exchanges
The best-performing peer-peer marketplace, Plexus, has partnered with Chainlink to revamp its platform. Plexus and Chainlink partnership was sealed on March 6, revealing plans to launch a unique Price Feeds platform. The team plans to utilize Chainlink’s proprietary software to activate a Price Feeds platform on the Plexus platform. The proposed integration will support Plexus in improving the convenience of digital transactions and reducing costs.
Plexus Partnership with Chainlink
The March 6 blog post revealed that the Chainlink team would integrate Price Feeds built on the Polygon Network and Ethereum ecosystem. The proposed interception will equip the Plexus platform with tamper-proof features and unique proof -of prices categories.
The blog post revealed that the new Price Feeds category would provide Plexus users the principal benefits of completing swap transactions across multiple cross-chains. In its recent report, the Plexus team was delighted to announce that the new development will address uncertainty in price-effect computations that limit the operation of its cross-chain network.
Beyond this, Plexus reported that the initial integration stage would involve the incorporation of Chainlink’s Price Feed features on its platform. Plexus confirmed that Chainlink was the suitable partner for the ongoing project due to the execution capabilities of its oracle network.
Additionally, Chainlink’s innovative technologies will improve the performance of the Plexus platform. The Chainlink team assured providing abiding support to Plexus necessary for navigating the decentralized finance (DeFi) space.
Significance of the Price Feeds
Nevertheless, Plexus anticipate that the integration and the partnership will assist the company in improving system security. The report also revealed that the partnership would provide sustainable solutions to mitigating data breaches conducted when the system experiences exchange delays or in case of flash loans.
The partnership significantly supports Plexus’ quest to increase blockchain adoption. Undeniably, the company has boldly developed a platform that allows users to buy and sell digital assets across cross-chain networks at a low rate. The Plexus technical team has also worked to improve the platform’s security by deploying a transaction verification mechanism.
Also, the team has invested in addressing the price-effect challenges related to cross-chain swaps by researching on the recent pricing assets linked to the on-chain networks. The Plexus team believes the integration will provide enormous benefits, including a unique decentralized system and suitable security nodes.
Furthermore, Chainlink’s Price Feeds feature will improve data quality and the performance of the Plexus system.
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