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Ignition Adopts Chainlink Standard To Accelerate Adoption of FBTC Across BTCFi

Twitter icon  •  Published 4 days ago  •  Hassan Maishera

On Tuesday, Chainlink announced via X that Ignition is adopting the Chainlink standard, specifically Price Feeds and Proof of Reserve.

On Tuesday, Chainlink announced via X that Ignition is adopting the Chainlink standard, specifically Price Feeds and Proof of Reserve. By adopting the Chainlink standard across Arbitrum and Ethereum, Ignition is enhancing the utility and security of FBTC across the on-chain economy.

Chainlink Price Feeds will provide a secure, reliable exchange rate for FBTC to enable secure markets around the asset. Ignition is also adopting Proof of Reserve’s Secure Mint capability to provide on-chain transparency into the reserves backing FBTC and help secure minting.

Chainlink Network (LINK) aims to provide tamper-proof data inputs and outputs for smart contracts on any blockchain. LINK is down 3% over the past 24 hours, trading at $14.55.

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Author

Hassan Maishera

Hassan is a Nigeria-based financial content creator that has invested in many different blockchain projects, including Bitcoin, Ether, Stellar Lumens, Cardano, VeChain and Solana. He currently works as a financial markets and cryptocurrency writer and has contributed to a large number of the leading FX, stock and cryptocurrency blogs in the world.