Market Metrics has been launched for the ChainLink Market. This is happening after long months of development and business strategizing. They have made lot of infrastructural changes to make this possible.
Link Pool tweeted: “A major update to the Chainlink Market has just been released! This update brings real-time metrics and charting, adding visibility and context to nodes, feeds, and the entire Chainlink network – all through our new open API.”
Market Metrics is meant to cater to the day to day operation of ChainLink network. Therefore, they have been very careful about ensuring that they collect data, which is necessary for better understanding of the day to day operation of the user.
The developers recall that when they first started to build on their metrics capability, the scope they set was not anything near to what they have accomplished now. They say that their primary goal was lot simpler. They started off with just “charting for data” for every “Chainlink Feed” within the market by placing due importance to individual responses and latencies.
Now, they say that it is very apparent that they will be able to take it to greater usage for the wider community.
If is important to recall that in the recent “SmartCon” they have discussed about the Market Overhaul.
People have had a place to list the items that they are offering on Chainlink network; however, there was not enough data to identify if what they were providing was actually benefiting the network.
Sydney Ifergan, the crypto expert tweeted: “ChainLink (LINK) have found it right. I think it is very important for contributors to know if they are benefiting the network or not.”
The recent Market overhaul provides a full top-down and in-detail view of how every aspect in the network is operating. This includes everything from the “node response times, revenue, profit, gas prices and data quality; to the feeds latest answers, individual responses, latency answer deviation and individual profit and loss.”
ChainLink (LINK) Dealing with Real-Time Value
While Explaining, Market Metrics, it consists of two important core components. It displays the masses of data regarding how feeds nodes and networks are performing in real-time. Also, Prometheus, an Open API provides everybody in the community with the power to come up with their own queries to show data on how they choose fit.
Understanding the usefulness of what is being contributed is very important in any ecosystem and very true about the blockchain and cryptocurrency network which is all about dealing with real time value.
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