Cryptocurrency-based prediction platform Polymarket is partnering with Chainlink (LINK) to increase the accuracy of its prediction market solutions, The Block reports.
Following the news, the LINK price did not experience a significant increase.
Accordingly, Polymarket announced today a partnership to integrate the Chainlink data standard into Polymarket’s settlement process.
The partnership will initially focus on improving the accuracy and speed of asset pricing solutions, with plans to expand into additional markets.
The partnership combines Chainlink Data Feeds for low-latency, time-stamped price reports with Chainlink Automation to trigger on-chain payments at predetermined times.
Sergey Nazarov, Co-Founder of Chainlink, said: “Polymarket’s decision to integrate Chainlink’s proven oracle infrastructure is a significant milestone that significantly improves how prediction markets are created and executed. When market results are analyzed with high-quality data and corruption-tolerant computations from oracle networks, prediction markets become reliable, real-time signals the world can trust. Polymarket’s partnership with Chainlink is a decisive step towards a world powered by cryptographic truth.”
*This is not investment advice.