Polymarket just made Bitcoin bets settle instantly with Chainlink upgrade
Polymarket has launched a brand new integration with Chainlink that upgrades how its prediction markets are priced and settled, in line with a Sept. 12 assertion shared with CryptoSlate.
The rollout connects Chainlink’s oracle infrastructure to Polymarket’s platform on Polygon mainnet, giving merchants entry to quicker, tamper-resistant information feeds and automatic settlement instruments.
The system pairs Chainlink Data Streams, which ship low-latency, timestamped market costs, with Chainlink Automation, which executes on-chain decision at predetermined instances.
Together, the 2 options take away delays in verifying market outcomes and cut back the potential of disputes.
For customers, this implies price-based markets, akin to Bitcoin or Ethereum forecasts, can shut and settle nearly instantly as soon as circumstances are met.
Chainlink co-founder Sergey Nazarov mentioned the combination turns speculative predictions into “dependable, real-time alerts the world can belief,” highlighting the push to make markets rely upon verifiable cryptographic fact quite than subjective decision-making.
Addressing governance challenges
The shift towards Chainlink’s oracle framework comes at a time when Polymarket faces mounting scrutiny over governance.
Polymarket has been criticized for its reliance on UMA’s optimistic oracle, the place customers can contest outcomes by staking bonds. While designed as a check-and-balance mannequin, that mannequin has been accused of leaving markets open to manipulation by bigger stakeholders.
Past controversies, together with disputes over a Trump-related market, uncovered how simply resolutions might be overturned. Such incidents raised questions on equity and transparency, and fueled requires a extra goal settlement course of.
By adopting Chainlink’s deterministic oracle community, Polymarket seeks to deal with these issues with cryptographic ensures quite than group arbitration.
Looking ahead, the partnership might develop past easy value predictions. Polymarket and Chainlink are exploring easy methods to apply the identical infrastructure to markets the place outcomes are much less clear-cut and traditionally resolved by way of social voting.
If profitable, that shift might decrease the chance of bias and assist prediction markets evolve into extra credible instruments for gauging real-world sentiment.
The publish Polymarket just made Bitcoin bets settle instantly with Chainlink upgrade appeared first on CryptoSlate.
