SAO Network Integrates Chainlink Price Feeds to Help Power Its Multi-Chain Payment System
We’re excited to announce that SAO Network — a cutting-edge decentralized storage provider for the Web3 ecosystem and Chainlink BUILD member — has integrated Chainlink Price Feeds on Ethereum, Polygon and BNB Chain mainnets to help accurately calculate and denominate payment values across various digital assets for SAO Network’s multi-chain payment system.
We selected Chainlink as our go-to platform solution because it has a proven track record of maintaining the highest standard of security and reliability in the Web3 industry. Chainlink’s industry-leading decentralized computing platform also provides all the decentralized services needed to build out a seamless payment layer for the SAO Network. From cross-chain payments and price conversions based on high-quality data to confirming and delivering data from the SAO Network back to blockchains, the Chainlink platform acts as a one-stop shop to help enable the SAO Network to connect its decentralized data services to dApps.
Building Secure, Decentralized Data Infrastructure for Web3
SAO (storage autonomous organization) Network is a Web3 data infrastructure dedicated to building a Web3 data lego realm. As a decentralized storage network, SAO provides secure and reliable data storage, data access control, and data computing services.
Powered by Hedra Labs, SAO Network is developed with a focus on data sovereignty, data access control, and data value. A separate network from blockchains, the SAO Network is hyper-specialized to provide these critical data services that aim to revolutionize Web3 data storage and facilitate the growth of Web3 applications.
A critical part of providing these data services is building a seamless payment system for any dApp to easily get started building with SAO Network. To do so, we need Chainlink Price Feeds — the most secure, reliable, and accurate price data in Web3, with features such as:
- High-Quality Data — Chainlink Price Feeds source data from numerous premium data aggregators, leading to price data that’s aggregated from hundreds of exchanges, weighted by liquidity depth, and cleaned from outliers and suspicious volumes. Chainlink’s data aggregation model generates precise global market prices that are 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 oracle nodes run by leading blockchain DevOps teams, data providers, and traditional enterprises with 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 the oracle network.
- Transparency — Robust, publicly available reputation frameworks and onchain monitoring tools allow users to independently verify the historical performance of node operators and oracle networks, as well as check the real-time prices being offered.
SAO Network is also actively integrating Chainlink CCIP to provide SAO Network’s multi-chain payment system with seamless cross-chain connectivity, as well as Chainlink Functions to help bring SAO Network’s data to smart contracts across blockchains.
“Chainlink is an integral part of SAO Network’s architecture. It provides all the decentralized services we need to connect to different blockchains and build seamless functionality for our users, which helps ramp up our development speed by orders of magnitude.” — Chase Wang, tech lead of SAO Network.
Chainlink is the industry-standard decentralized computing platform powering the verifiable web. Chainlink has enabled over $8.5 trillion in transaction value by providing financial institutions, startups, and developers worldwide with access to real-world data, offchain computation, and secure cross-chain interoperability across any blockchain. Chainlink powers verifiable applications and high-integrity markets for banking, DeFi, global trade, gaming, and other major sectors.
About SAO Network
S.A.O. (Storage Autonomous Organization) is a decentralized data infrastructure for Web3. It’s based on SAO Network, a decentralized storage network with privacy-preserving computation to ensure user’s data sovereignty and facilitate Web3 mass adoption.