TROY Trade, a global broker that facilitates crypto asset trading and management, has announced a technology integration with Chainlink, intending to offer better crypto brokerage services to both the professional traders as well as the institutional clients. Chainlink is an Ethereum powered token that backs both the decentralized oracle network and the original data source level. This network, in turn, allows the Ethereum powered smart contracts to securely connect to the external data sources, various payment systems and APIs. By using the multiple independent nodes on the Chainlink platform, the user can get the protection against one oracle network when a single point of the oracle network fails. Likewise, when using multiple data sources for tracing the market prices, the user can be protected against one data source being the only source of true facts.
With the expansion of the crypto trading world, startups like the Troy Trade are working towards extending their prime brokerage services to both the leading financial firms, as well as crypto-trading operators; both of which need a tier 1 liquidity provider that have the potential to operate in various crypto liquidity pools. This partnership with Chainlink is focused on that prime motive. In fact, this partnership of Troy Trade with Chainlink is focused on optimizing the trading and clearing processes of Troy Trade. In fact, TROY would receive the required backing from Chainlink to redefine its crypto trading strategies through the reliable oracle design, that Chainlink has vowed to provide to Troy Trade with. It will help Troy network to break through the trading barriers that come in the way of crypto trading by building a frictionless and integrated crypto trading ecosystem.
Chainlink helps the smart financial contracts to easily use the real-time prices of a designated crypto asset trading pair, through its Price Reference Data contracts, that has the potential to provide the most accurate prices for 25 plus digital asset markets. Various independent oracle networks secure the Price Reference Data Contracts, which are then used by the various smart contract platforms. This, in turn, pacifies the price fluctuations that can happen at any time in the crypto market.