Analyze Decentralized Oracles in Real-Time With Chainlink’s Price Feed Visualizations

This article was first published on Chainlink
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Analyze Decentralized Oracles in Real-Time With Chainlink’s Price Feed Visualizations

Transparency is a key principle in the DeFi ecosystem, ensuring that anyone can verify how decentralized finance protocols are engineered, as well as access critical market data around collateralization and fair pricing. Tools like Chainlink’s Price Feed visualizations help promote transparency across the DeFi space by showing the composition of decentralized oracle networks that validate and feed price reference data to smart contracts. Moreover, the visualizations provide an easy pathway for users to audit the actual price data that is published on-chain. This article is a guide to Chainlink Price Feed visualizations and their specific features that you can use to verify that DeFi asset pairs are priced fairly and securely.

How Decentralized Oracle Networks Secure DeFi Price Data

Chainlink Price Feeds source high-quality price data from reputable data aggregators by pulling data from their APIs. The data is then delivered on-chain via a decentralized oracle network composed of multiple independent security-reviewed node operators. Decentralization at both the data aggregation and oracle network levels protects against data manipulation and ensures availability for smart contracts that depend on highly reliable price oracles. Because of their security and reliability guarantees, Chainlink Price Feeds have become the industry standard oracle solution for DeFi, now securing billions of dollars in value and supporting a wide variety of use cases and markets, from derivatives to stablecoins.

Analyze Decentralized Oracles in Real-Time With Chainlink’s Price Feed Visualizations
How Chainlink uses data providers and a distributed network of oracles to provide access to fair market prices on-chain.

DeFi Price Feeds

In addition to accuracy, security, and reliability guarantees, Chainlink supplies visualizations of price feed performance derived from on-chain data. The visualizations give smart contract developers and users the ability to independently verify how each price feed’s oracle network determines asset prices. They also allow users to easily access a variety of information about the infrastructure, functionality, and ...

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