Decentralized oracle provider, Chainlink has launched Data Streams – a low-latency oracle with automated trade execution for DeFi markets.
Data Streams supplies high frequency data markets using decentralized infrastructure. Chainlink has first deployed this solution on Arbitrum where it is available for early access.
The novel development consists of two core elements, low-latency oracles that serve market data in the offchain stream and automation infrastructure that oversees transactions, collects offchain market data, and sends it for settlement.
Using Data Streams, decentralized exchanges can now offer CEX-like user experience to traders while numerous other dApps now have access to its high-frequency data from onchain markets.
As launched on Arbitrum, Data Streams currently powers GMX, a decentralized derivative exchange, which offers decentralized future trading for a number of assets.
“Backed by decentralized infrastructure and conflict-of-interest-free data, Data Streams enable DeFi apps to create a safe trading experience at scale.” Chainlink states in the announcement, adding “This means users receive fair execution on trades and protection from toxic flow, frontrunning, and adverse selection.”
Chainlink is the biggest decentralized oracle provider that secures the whole DeFi ecosystem with its high-speed and efficient market data across different chains.