Chainlink (LINK) became one of the featured altcoins of the day with its new collaboration with the HBAR Foundation on the Hedera network.
Chainlink’s data feeds and Cross-Chain Interoperability Protocol (CCIP) services will be integrated into the Hedera ecosystem. Contributions made through the Chainlink Scale program will provide robust infrastructure and resources to decentralized applications in Hedera.
After contributing to the development of DeFi projects, the value of LINK increased by about 5%.
Collaboration between Chainlik (LINK) and HBAR
By joining the HEDRA Management Council in 2021, Chainlink took its relationship a step further. The two teams contributed greatly to develop DFI applications.
With the integration of the Chainlink CCIP protocol into the Hedera network, cross-chain interoperability will be ensured. The system in question will facilitate token transfers and programmable transactions between blockchains. The partnership aims to make Hedera applications more compatible and comprehensive.
Johan Eid, Business Manager at ChinaLink Labs said:
“We are thrilled to join the HBAR Foundation’s Chainlink Scale program and integrate Chainlink’s data streams and CCIP protocol into Hedera. “Through this partnership, Hedera developers will be able to build secure, scalable and advanced decentralized applications. will have access to the necessary tools to build applications (dApps).”
If the positive market environment continues, a possible breakout is expected in the price of LINK. Experts predict that the price of LINK may reach $20. According to analyst comments, the $15 level in LINK will be a key resistance point.
Commenting on the LINK, Coingape said the following;
“This collaboration between Chainlink and Hedera is seen as an important step that will enable blockchain technology to evolve with more scalable and secure applications.“
This article does not contain investment advice or recommendations. Every investment and trading venture involves risk, and readers should do their own research when making decisions.