JUSTLINK TO COMPETE WITH CHAINLINK (LINK)
JUST Foundation launches oracle service platform on TRON (TRX) JustLink to compete with Chainlink (LINK).
▪ JustLinkwill implement a penalty mechanism for dishonest information providers.
▪ The DeFi sector is reclaiming momentum, despite negative performance in Ethereum and TRON (TRX). DeFi Pulse registers a rebound in Total Value Locked (TVL) on the DeFi protocols and stands again at $11.29 billion. Seizing the moment, the JUST Foundation has launched TRON’s oracle service, JustLink.
Conceived to be an “answer” to Chainlink’s (LINK) oracle service, JustLink offers a secure connection between decentralized protocols with information outside the blockchain.
The JUST Foundation claims that the TRON-based oracle project is completely decentralized, “unlike its competitors”. Therefore, they claim that it is a better alternative to eliminate single points of failure in smart contracts.
First oracle project on TRON (TRX)
JustLink is the first official oracle project created on TRON (TRX). Smart contracts on TRON will be able to receive information on prices, stablecoin exchange rates, derivative prices, market estimates, among others. The JUST Foundation states:
JustLink is the answer for Chainlink on the TRON network. The timing of its launch could not be better as it meets the demands that TRON-powered smart contracts have for external data, which liberates the entire TRON ecosystem.
Additionally, JustLink will have “greater options” to be leveraged by developers looking to build DApps. However, the JUST Foundation only mentions among JustLink’s advantages that TRON will have “exponential growth”.
JustLink will use the token JST as part of one of its “essential components”. Therefore, JST will act as a pricing reference to “interconnect” the different use cases that exist on JUST.
BENEFITS:In addition, TRON DeFi users will be able to benefit from this two main features.The first is a penalty margin system to reduce dishonesty on the network.