The cryptocurrency sphere recently received a significant upgrade with the integration of Chainlink data feeds into Polygon zkEVM. This new feature, announced on December 15, promises to revolutionize the way smart contracts operate on the Polygon network, by offering access to secure and reliable external price data.
This integration is a milestone in decentralization and digital security, as Chainlink's data feeds are built on multiple layers of decentralization. These include the pricing, oracle node, and oracle network data tiers. This robust framework is essential for preventing common failures such as API downtime, flash failure discrepancies, and data manipulation attacks, including the well-known flash loan exploits.
The collaboration between Chainlink and Polygon is particularly beneficial for developers working on Polygon zkEVM. The latter offers an environment fully compatible with the Ethereum Virtual Machine (EVM), allowing most native Ethereum tools and infrastructure to be used with minimal changes. This compatibility greatly facilitates the development and deployment of dApps (decentralized applications), now enriched with Chainlink data feeds.
Marc Boiron, CEO of Polygon Labs, highlights the importance of this integration: “Chainlink oracles unlock a range of DeFi applications, bringing opportunities for new dApps that truly take advantage of the unique value propositions of a ZK rollup, including fast finality and robust security.” .
The use of zero-knowledge proofs (ZKPs) in Polygon zkEVM allows off-chain grouping of transactions for more efficient on-chain verification. This method of batch processing through zk-rollups increases throughput and significantly reduces gas fees compared to sending each transaction individually. This not only optimizes verification but also scales the potential of Ethereum-based dApps.
Furthermore, maintaining compatibility with EVM throughout its structure is a key point highlighted by Polygon Labs. This ensures ease of use and deployment for Ethereum-based applications while maintaining critical security features for decentralized finance protocols. Johann Eid, chief business officer at Chainlink Labs, reinforces the importance of security: “Security is a necessity for the long-term vision of any DeFi protocol.”
