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Oracle service provider Chainlink has announced its expansion to Arbitrum One, a new but already acclaimed Layer 2 solution for Ethereum. The launch of Chainlink Automation will help developers build decentralized applications on Arbitrum One, enabling them with automation and maintenance.
Automation is live on mainnet. developers can now build fully automated that are decentralized end to end.
— Chainlink (@chainlink)
Learn how reliable, high-performance smart contract automation can benefit your Arbitrum dApp ⬇️https://t.co/4D1UosPyoA
Chainlink's expansion into Arbitrum does not seem surprising and seems organic. Arbitrum has quickly managed to establish itself as a very nimble, secure, low-cost blockchain that for many is a priority platform for financial technology development.
Thus, for example, the decentralized crypto derivatives exchange GMX, whose token of the same name has made a lot of noise in recent weeks, is built on Arbitrum One. GMX accounts for more than a third of the blockchain's total value of $1.11 billion.
Chainlink's recent developments
Chainlink's expansion into Arbitrum is the second major development in the crypto company's life recently. The first is undoubtedly the launch of long-awaited staking last week. The early pool, launched only for a limited number of people, has already filled to a maximum of 22.5 million LINK with an interest rate of 4.75%.
The LINK price reacted to all the positive news with a drop of 12%, but before that, it was up 28% from the last week of November to Dec. 5.
InkByte Editorial Team
Dan Burgin
