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Chainlink rally stalls as effect from “Runtime Environment” upgrade wanes

  • Chainlink falls after a three-day rally, which was partially driven by the Chainlink Runtime Environment (CRE) at SmartCon on Wednesday.  
  • This enhancement is crucial for expanding Chainlink to thousands of blockchains and meeting the growing demand from capital markets and Web3.
  • Tron announced on Thursday that Chainlink Data Feeds will soon become the official data Oracle solution for the TRON blockchain ecosystem.
Chainlink rally stalls as effect from “Runtime Environment” upgrade wanes
Manish ChhetriManish ChhetriFXStreet

Chainlink (LINK) trades slightly down around $12 on Thursday after rallying over 5% on Wednesday following the announcement of its Chainlink Runtime Environment (CRE) upgrade, which is aimed to enhance interoperability across thousands of blockchains and addresses to meet the demand of capital markets and Web3. 

Tron (TRX) announced on Thursday that Chainlink Data Feeds will become the official Oracle solution for its ecosystem.

Chainlink Runtime Environment update support bullish bets

Chainlink announced on Wednesday the Chainlink Runtime Environment (CRE), a major upgrade to its platform, during the SmartCon event. This upgrade allows developers to build quicker connections to their apps across all chains connected to the Chainlink platform.

Chainlink is a decentralized oracle network that connects smart contracts on blockchains with real-world data, APIs and payment systems. This platform is undergoing a significant re-architecture, inspired by microservices architecture, to create modular capabilities for decentralized Oracle networks (DONs). The new Chainlink Runtime Environment (CRE) will allow developers to combine these capabilities into customizable workflows, enhancing flexibility and efficiency in managing and executing decentralized applications.

“This upgrade is designed to scale Chainlink across thousands of blockchains, meet the growing demand from financial institutions, and empower developers to build with Chainlink faster, more easily, and with more reach and flexibility than ever before,” says Chainlink in a blog post.

TRON joins Chainlink Scale program

On Thursday, TRON DAO announced on its official X account that Chainlink Data Feeds will soon become the official data Oracle solution for the TRON blockchain ecosystem. 

As part of TRON DAO’s joining the Chainlink Scale program, this program is expected to accelerate ecosystem growth and adoption by providing developers sustainable access to Oracle services.

“We joined the Chainlink Scale program to accelerate TRON’s DeFi economy by offering developers access to the industry-leading data oracle solution. Chainlink’s unmatched security and reliability made it the clear choice as TRON’s official oracle provider. This integration enables us to focus on scaling our ecosystem and further driving mass adoption in the blockchain industry,” said Sam Elfarra, Community Spokesperson at TRON DAO.

Once the Chainlink upgrade launches on TRON, support and reliance on WINkLink as the Oracle solution for TRON will discontinue. Chainlink will secure over $6.5 billion in DeFi TVL.

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Manish Chhetri

Manish Chhetri is a crypto specialist with over four years of experience in the cryptocurrency industry.

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