Why is the Chainlink price rising today?
Today’s price gain follows the release of an updated roadmap for the implementation of strike. This is a feature that will enable rewards to encourage the proper functioning of the network.
The idea is to earn passive income by staking on Chainlink to give the participants, such as node operators and community members, the opportunity to increase the security guarantees of Oracle services by supporting them with staked LINK coins.
The first implementation of Chainlink, v0.1, is planned for the second half of 2022. This implementation marks the beginning of Chainlink Economics 2.0. The project’s ‘new era of sustainable growth and security’.
The company says the increase in Oracle security and user assurances caused by staking will be critical to help scale multi-chain smart contracts to ultimately secure multi-trillions.
According to Chainlink, the rollout of the strike mechanism will be similar to the deployment of Chainlink Price Feeds. This is the company’s popular pricing oracle network for decentralized financial (DeFi) applications.
The latter started with a single price feed for ETH/USD managed by three Oracle nodes. It grew to nearly a thousand price feeds. This was made possible by more than 50 node operators in twelve blockchains and layer 2 solutions.
Currently, Chainlink is trusted by some of the most valuable DeFi apps, including Aave, Compound, dYdX, Synthetix, Nexus Mutual, and more. The most recent integration took place last week, with Solana de support for Chainlink Price Feeds has added.