5 Jan

Chainlink’s Oracle Services Power $6.9 Trillion in Transactions in 2022

-Chainlink’s oracle services supported more projects and developers than ever before, enabling $6.9 trillion in transaction value in 2022.
-Chainlink introduced the NFT Floor Price Feeds and the CF #Bitcoin Interest Rate Curve to empower NFT and DeFi builders.
-Proof of Reserve services were popular among leading stablecoins, blockchain bridges, and wrapped tokens to offer transparency around reserves.

Last year in 2022, the Chainlink ecosystem made some major progress in terms of development and network usage. With its BUILD and SCALE initiatives, Chainlink helped to accelerate growth in early-stage Web3 blockchains and dApps. The oracle service provider enabled $6.9 trillion in transaction value alone, and the network saw a notable increase in the number of projects and developers using it. Chainlink also introduced several new features, such as NFT Floor Price Feeds and CF #Bitcoin Interest Rate Curve, which enabled NFT and DeFi builders to unlock new markets. Furthermore, Chainlink’s Proof of Reserve services were popular among leading stablecoins, blockchain bridges, and wrapped tokens for offering transparency around the reserves to back new on-chain assets. Additionally, Chainlink launched the LINK staking features, enabling users to earn rewards by staking their tokens. All these developments have helped to propel the growth of the Web3 economy and have enabled it to scale securely. With more features and products being added to the Chainlink ecosystem in the coming years, the oracle service provider is expected to make a bigger impact on the blockchain space.