Chainlink Automation will help developers build advanced dApps on Arbitrum One
SAN FRANCISCO, Dec. 14, 2022 /PRNewswire/ — Chainlink, the most widely used oracle services provider, and Arbitrum, the most widely used Layer 2 scaling solution for Ethereum dApp development, have today announced the launch of Chainlink Automation on Arbitrum One. A number of projects including COTI and Armadillo, Cask, and DeFiEdge, are already integrating Chainlink Automation into their dApps to reliably trigger key smart contract functions on Arbitrum One.
Chainlink has helped drive the rapid growth of the DeFi ecosystem on Arbitrum One. Now, with the launch of Chainlink Automation on Arbitrum One, developers have access to the reliable and performant automation needed to build advanced dApps by leveraging a decentralized network of nodes that monitor smart contracts and then execute functions using Chainlink’s battle-tested transaction manager, which takes care of nonce-management, gas spikes, and network re-orgs.
“We’re excited to support the Arbitrum ecosystem with the native integration of Chainlink Automation, enabling developers to build highly scalable and low-cost smart contract applications that are automated end to end,” said Niki Ariyasinghe, Head of Blockchain Partnerships at Chainlink Labs. “With the enhanced uptime and security guarantees provided by Chainlink Automation, Arbitrum developers can build the next generation of decentralized applications and help reliably scale the Web3 ecosystem.”
Arbitrum One is an optimistic rollup for Ethereum that powers high-throughput, low-cost dApps. Chainlink Automation is a smart contract automation solution that is now available on the Arbitrum network for all developers and dApps. By combining Chainlink’s reliable blockchain automation solution with Arbitrum One’s layer-2 ecosystem, developers now have the ability to build advanced, feature-rich dApps that can scale at an ever lower cost.
“DeFi apps have experienced tremendous growth on the Arbitrum One, which allows them to scale in a secure manner,” said A.J. Warner, Chief Strategy Officer of Offchain Labs. “Similarly, Chainlink Automation helps dApps reliably scale by enabling them to automate DevOps and maintenance tasks without having to rely on centralized scripts or worry about single points of failure.”
In August, 2021, a number of Chainlink Price Feeds went live on Arbitrum One, giving DeFi applications access to high quality financial market data directly on-chain.
Chainlink is the industry standard for building, accessing, and selling oracle services needed to power hybrid smart contracts on any blockchain. Chainlink oracle networks provide smart contracts with a way to reliably connect to any external API and leverage secure off-chain computations for enabling feature-rich applications. Chainlink currently secures tens of billions of dollars across DeFi, insurance, gaming, and other major industries, and offers global enterprises and leading data providers a universal gateway to all blockchains.
Offchain Labs is a venture-backed and Princeton-founded company that is developing Arbitrum, a suite of scaling technologies for Ethereum. Arbitrum is the leading scaling provider for Ethereum and has two live chains — Arbitrum One, the scaling solution of choice for DeFi and NFTs and Arbitrum Nova, the newly announced gaming and social platform. Arbitrum’s technology instantly scales apps, reducing costs and increasing capacity, without sacrificing Ethereum’s security. Porting contracts to Arbitrum requires no code changes or downloads as Arbitrum is fully compatible with most existing Ethereum developer tooling. Hundreds of teams have already chosen to build in the Arbitrum ecosystem.
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SOURCE Chainlink; Arbitrum