https://ift.tt/Mt4oAHm DAO taps Chainlink Price Feeds to bring smart contract functionality to Chingari

Gari DAO, the governing body behind web3 short video app Chingari, is adding Chainlink Price Feeds into the application, which runs on the Solana (SOL) mainnet.

The DAO announced this news on April 21, noting that this integration would introduce smart contract functionality in Chingari.

By adding smart contract capabilities to Chingari, Gari DAO seeks to empower video creators and digital artists across the globe by enabling them to get fair rewards for the content they create. Additionally, the organization aims to build blockchain-based games and new advertising models within Chingari to reward anyone who interacts with them.

Gari DAO said Chainlink Price Feeds now has access to high-quality, tamperproof price feeds, essential in supporting its e-commerce ads and prediction markets. The organization added that Chainlink Price Feeds would assure Chingari’s over 70 million users of the accuracy and transparency of the data the platform uses for prediction markets and prices.

Gari DAO co-founder and CEO Sumit Ghosh said:

“A highly secure solution that’s seamless to integrate, it’s easy to see why Chainlink Price Feeds are the most widely adopted data solution in Web3. Given that our content creators and users underpin the success of our app, we recognize the importance of providing them with a highly accurate and transparent reward process.”

Chainlink continues cementing its position as the best oracle solution

Created in September 2017, Chainlink has rapidly expanded, with over 1,000 projects integrating its price feeds at the moment. Notably, more than half of these integrations took place in 2021, showing the platform’s popularity is rising quickly.

This accelerated growth comes after Chainlink launched services on multiple Layer 1 and Layer 2 protocols in the past year. These include Arbitrum, Avalanche, Binance Smart Chain (BSC), Ethereum, Fantom, Harmony, Heco, Moonriver, Optimism, Polygon, Starkware, and xDai.

Additionally, Chainlink introduced its Verifiable Randomness Function (VRF), which it first introduced in Ethereum in late 2020, to BSC and Polygon in 2021. Chainlink VRF provides smart contracts access to a secure source of on-chain randomness, which is vital for non-fungible tokens (NFTs) and on-chain gaming apps.

Apart from blockchain projects, mainstream companies like Amazon Web Services, AccuWeather, and the Associated Press also embraced Chainlink to add blockchain technology to different parts of their operations.