HBAR Foundation Joins Chainlink Scale, With Chainlink Data Feeds and Chainlink CCIP Being Integrated on Hedera

HBAR Foundation joining Chainlink Scale deepens the longstanding collaboration between the Chainlink and Hedera ecosystems

We’re excited to announce that the HBAR Foundation, which supports the sustainable growth and long-term adoption of the Hedera ecosystem, has joined the Chainlink Scale program. As a first step in this collaboration, Chainlink Data Feeds are now live on Hedera Testnet. Additionally, Chainlink Data Feeds and Chainlink CCIP are being actively integrated on Hedera, giving developers the industry-standard services needed to build feature-rich dApps.

This is not the first time that we have collaborated: the Hedera and Chainlink ecosystems have maintained a strong relationship since 2021, when Chainlink Labs joined the Hedera Governing Council. Chainlink Labs contributes to Hedera's decentralized governance, not only by operating a node but also by playing a role in the development, oversight, and operation of the Hedera network.

Joining the Chainlink Scale program provides Hedera developers with enhanced access to Chainlink’s high-quality oracle services. ‍

Enabling Highly Secure DeFi With Industry-Standard Chainlink Data Feeds

As the most widely adopted data standard in the onchain ecosystem, Chainlink already helps secure leading DeFi protocols responsible for tens of billions of dollars in smart contract value, maintaining robust security and high availability even amidst unexpected events.

Chainlink Data Feeds deliver several critical features and benefits, such as:

• High-Quality Data — Chainlink Data Feeds source data from numerous premium data aggregators, leading to price data that’s aggregated from hundreds of exchanges, weighted by volume, and cleaned of outliers and wash trading. Chainlink’s data aggregation model generates more precise global market prices that are inherently resistant to inaccuracies or manipulation of any single or small set of exchanges. 
• Secure Node Operators — Chainlink Data Feeds are secured by independent, security-reviewed, and Sybil-resistant oracle nodes run by leading blockchain DevOps teams, data providers, and traditional enterprises. Chainlink nodes have a strong track record of reliability, even during high gas prices and infrastructure outages. 
• Decentralized Network — Chainlink Data Feeds are decentralized at the data source, oracle node, and oracle network levels, generating strong protections against downtime and tampering by either the data provider or oracle network.
• Reputation System  — Chainlink provides a robust reputation framework and set of onchain monitoring tools that allow users to independently verify the historical and real-time performance of node operators and oracle networks.

Building Secure Cross-Chain dApps With Chainlink CCIP

We envision CCIP as a key part of the ecosystem’s interoperability because Chainlink has a proven track record of maintaining the highest standard of security and reliability in the blockchain industry. CCIP is powered by Chainlink decentralized oracle networks, which have already secured tens of billions of dollars for smart contracts and enabled over $15 trillion in onchain transaction value. 

CCIP provides several key features that enhance the developer experience. These include Programmable Token Transfers that enable transferring tokens, messages, or both tokens and messages simultaneously within a single cross-chain transaction, and a plug-and-play token transfer solution consisting of audited token pool contracts that handle the complexity of burning and minting or locking and unlocking tokens across chains. Additionally, CCIP offers a unified cross-chain developer experience by providing a single, easy-to-integrate interface.

The deployment of CCIP on Hedera involves a phased rollout, with additional lanes, tokens, and functionality being added over time. Please see the official Chainlink documentation for more information.

"We’re excited that HBAR Foundation has joined Chainlink Scale and Chainlink Data Feeds and CCIP are being integrated on Hedera” said Johann Eid, Chief Business Officer at Chainlink Labs. "By empowering Hedera developers with increased access to Chainlink services, they’re able to build secure, scalable, and fully-featured dApps, driving the mass adoption of onchain ecosystems.”

"We joined Chainlink Scale to provide developers with more tools to build Web3's most advanced, secure applications,” said Elaine Song, VP of Strategy at The HBAR Foundation. “Chainlink Data Feeds support the creation of high-quality retail and institutional DeFi apps and CCIP's secure cross-chain interoperability ensures they'll be accessible to more people without sacrificing UX."”‍

About Chainlink

Chainlink is the universal platform for pioneering the future of global markets onchain. Chainlink has enabled over $15 trillion in transaction value by providing financial institutions, startups, and developers worldwide with access to real-world data, offchain computation, and secure cross-chain interoperability across any blockchain. Chainlink powers verifiable applications and high-integrity markets for banking, DeFi, global trade, gaming, and other major sectors. 

Learn more about Chainlink by visiting chain.link or reading the developer documentation at docs.chain.link.‍

About The HBAR Foundation

The HBAR Foundation supports the creation of Web3 communities built on the Hedera network, by empowering and funding the builders developing these communities. The Foundation's six funds - focused on the Crypto Economy, Metaverse, Sustainability, Fintech, Privacy, and Female Founders - each support communities within those areas, and the interconnectedness enables applications to participate as part of a larger ecosystem.

The collective power of these funds enables entrepreneurs, developers, and enterprises of all sizes to tackle some of the world's largest problems, and create and control their own economies, all built on the Hedera public network. Whether you're building something new or migrating an existing EVM-based application and community, the HBAR Foundation is here to support you.

For more information, please visit https://hbarfoundation.org.

Media contacts: laura.cooley@hashgraph.com