Summary
- Ripple announced that it will enhance the utility of RLUSD through a partnership with Chainlink.
- Chainlink stated that through its collaboration with Ripple, it will provide real-time RLUSD price data to maintain its market value at $1.
- This is expected to enhance the safety and reliability of RLUSD in DeFi and dApps, attracting the attention of investors.
Ripple announced a partnership with the decentralized oracle project Chainlink (LINK).
According to Cointelegraph, a cryptocurrency media outlet, Ripple plans to enhance the utility of its stablecoin RLUSD through this partnership with Chainlink.
Through this collaboration, Chainlink will provide real-time RLUSD price data to the XRP Ledger and Ethereum Blockchain via its price feed functionality.
Chainlink's price feed is designed to verify that RLUSD maintains its actual market value of $1, thereby enhancing the safety and reliability of RLUSD in decentralized finance (DeFi) and decentralized applications (dApps).
Meanwhile, an oracle refers to technology that brings data from outside the blockchain into the blockchain.
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.
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