Chainlink Data Streams to unlock new derivatives products

Chainlink Data Streams to unlock new derivatives products

Chainlink Data Streams, which combines low-latency market data and automated execution, will unlock a new generation of extremely-fast and user-friendly derivatives products, the company said. Low latency market data is delivered without delay, as it is known as low latency market data.

The product uses apull-based data oracle solution, where high frequency market data is continuously made available off-chain. Oracle reports are generated every block, and users can retrieve them off-chain and validate them with their on-chain transaction. This differs from the push-based solution where oracles proactively feed data to smart contracts at various time intervals.

By using a pull-based system, we reduce the latency, how much time it takes for a data packet to travel from one point to another. The problem of latency occurs in distributed networks, as messages have to spread to nodes, often resulting in delays in finalizing and synchronizing transactions.

Sergey Nazarov, chainlink co-founder, said in a statement.

Chainlink Functions provides high-value jobs at a tenth of the cost, saving up to 90% in gas costs, Chainlink said in a press release.

Chainlink Labs' chief product officer, Kemal El Moujahid, said he would not comment on the statement. Chainlink Labs is the primary developer behind Chainlink.