Aussie crypto exchange CoinJar integrates Chainlink to improve user experience

CryptoNinjas January 6, 2022
Updated 2022/01/06 at 1:58 AM
3 Min Read

CoinJar, an Australian-based crypto exchange platform operating in both Australia and the UK, today announced that it is integrating Chainlink Price Feeds to help bring accurate fair market rates to its cryptocurrency exchange. With Chainlink, CoinJar will be able to accurately display the prices of assets, assisting users in making better-informed decisions backed by tamper-proof data.

Chainlink Price Feeds’ decentralized architecture helps ensure hyper-accurate price reference data at all times—even during extreme network congestion and market volatility. The CoinJar team selected Chainlink because its oracle solution is time-tested in bringing real-world data and computation on-chain. Since its inception, Chainlink has helped secure $75B+ for leading DeFi, CeFi, and other blockchain apps.

Additional features of Chainlink Price Feeds 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 suspicious volumes.
  • High Update Frequency — Chainlink Price Feeds can perform frequent price updates at minimal costs, resulting in precise price data that consistently reflects current market conditions.
  • Robust Infrastructure — Chainlink Price Feeds utilize decentralized networks of professional node operators run by leading blockchain DevOps teams and traditional enterprises with a strong track record of uptime during market volatility.
  • Transparent Monitoring — Chainlink provides a reputation framework and set of on-chain monitoring tools that allow users to independently verify the historical and real-time performance of price feeds.

“Chainlink Price Feeds provide a superior alternative to maintaining our own price data solution or using other options that are subject to going offline. We will continue to explore how we can leverage other Chainlink decentralized services to enhance the functionality and reliability of our exchange.”
– Asher Tan, CEO of CoinJar

Founded in 2013, over 500K users have traded $4B+ in assets on CoinJar, which has over $750M+ in assets under custody. CoinJar also features an OTC trading desk and an institutional offering.

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