The CryptoCart team is very excited to announce that we will integrate Chainlink Price Feeds as our go-to oracle solution for the CryptoCart marketplace and gift card store.
How does this benefit CryptoCart?
Chainlink Price Feeds will be beneficial to the CryptoCart Marketplace and Gift Card Store as their oracle solution provides accurate data through multiple layers of decentralization and by sourcing numerical data from hundreds of nodes, which are aggregated and validated, removing any inconsistencies and are relayed back on-chain. This will guarantee that all prices shown at the CryptoCart checkout are the live real-time prices to the highest degree of accuracy. Chainlink already works very closely with some of the top cryptocurrency projects, and we are delighted to become adopters of their time-tested oracle infrastructure.
On top of allowing an easy checkout process through the CryptoCart marketplace and gift card store, our team also has a vision to offer every product or service that consumers can imagine, whilst also offering several comprehensive rewards packages and options to users holding and using the $CC token as a payment method.
Presently, we have built an Amazon affiliate store in the UK which allows users to check out using any cryptocurrency that our platform accepts as a payment method. From here, we are working on expanding to include affiliate stores for Amazon globally, as well as adopting and on-boarding other DeFi tokens as payment methods.
We are also very proud to have built our own Gift Card Store that currently offers over 1700+ gift cards globally, with instant and free delivery, all without requiring the user to KYC or dispose of their cryptocurrency into fiat beforehand.
From here, we plan on building stores to accommodate some of the following markets for consumers:
– CryptoCart Automobiles
– CryptoCart Holidays
– CryptoCart Luxury
– CryptoCart Sports
– CryptoCart Real Estate
– CryptoCart Collab & Merch stores
Across all current and future stores, CryptoCart will be integrating the Chainlink price feeds for more accurate, real-time prices at checkout.
Why we chose Chainlink price feeds:
Chainlink are known as the best oracle solution to-date, as their price feeds are known for their accurate oracle reports regardless of volatility or network congestion. Chainlink Price Feeds are the quickest and safest way to connect your smart contracts to the real-world market prices of assets.
Some of the key reasons we chose Chainlink as are go-to oracle include:
High-Quality Data — Chainlink Price Feeds source data from numerous premium data aggregators, leading to price data that are aggregated from hundreds of exchanges, weighted by volume, and cleaned from outliers and wash trading. Chainlink’s data aggregation model generates accurate global market prices resistant to API downtime, flash crash outliers, and data manipulation attacks like flash loans.
Secure Node Operators — Chainlink Price 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 for reliability, even during high gas prices and extreme network congestion.
Decentralized Network — Chainlink Price 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 — Chainlink provides a robust reputation framework and set of on-chain monitoring tools that allow users to independently verify the historical performance of node operators and oracle networks, as well as check the real-time prices being offered.
Chainlink is the most widely used and secure way to power universally connected smart contracts. With Chainlink, developers can connect any blockchain with high-quality data sources from other blockchains and real-world data. Managed by a global, decentralized community of hundreds of thousands of people, Chainlink is introducing a fairer model for contracts. Its network currently secures billions of dollars in value for smart contracts across the decentralized finance (DeFi), insurance and gaming ecosystems, among others. Chainlink is trusted by hundreds of organizations to deliver definitive truth via secure, reliable data feeds. You can learn much more about chainlink on the official Chainlink homepage.
At CryptoCart, our number one goal is to successfully bridge the gap between decentralized finance and e-commerce like never before. CryptoCart is a digital marketplace where consumers can purchase real-world goods and gift cards and checkout through using some of their favourite DeFi cryptocurrencies as a payment method.