ChainLink (LINK) is the only project that defied the yesterday’s crypto carnage

The carnage we experienced yesterday prompted an exodus of the “weak hands” and confessions about capitulations dominated the narrative in crypto communities. However, one project defied the bear assault and is the rear green spot when you look the weekly chart. LINK is still 10% in plus compared to the last 7 days which is even more astonishing if you throw a glance up or down the ranks – right above LINK is BTS that suffered a beating and a 23% loss while NANO that is a spot below LINK got 25% squeezed out of it in the last 7 days.

CoinGecko_ chainlink

More and more blockchain projects are starting to use Chainlink services as the most reliable way to import real-world data into their systems.

Link is blockchain agnostic which makes it a potential source of information for all major blockchains in the market.

In the Medium announcement, Kaiko the leading provider of institutional grade cryptocurrency market data entered the ChainLink collaboration:

“The Kaiko team is thrilled to announce our partnership with Chainlink, a leader in decentralized oracle networks and secure smart contracts. The partnership will integrate Kaiko’s cryptocurrency market data with Chainlink’s decentralized network of blockchain oracles, providing a consistent and secure market data source for smart contracts.”

Wanchain officially stated:

“Wanchain is very pleased to announce our new integration and partnership with Chainlink. The implementation of Chainlink, currently in Beta, will bring access to information typically stored off-chain such as APIs, payment gateways, or feeds of data and information.”

Check out our review of Cobinhood platform.

ChainLink platform acts as a decentralized Oracle network which allows anyone to become an Oracle, aka a provider of a data feed in exchange for LINK tokens. The ChainLink platform includes certification, validation and reputation services that enforce the integrity of the network’s Oracles.

ChainLink is known in crypto circles as a project that keeps things hush until they have something real to offer. They are notorious for their weak communication with the public. The team works hard on building a good product without hype, lines up users that are waiting on its release. Chainlink is consistently selected as one of the top blockchain technologies by leading independent research firms such as Gartner. It is well known for providing highly secure and reliable oracles to both large enterprises (SWIFT) and leading smart contract development teams.

Link remains a solid project that boasts a first mover advantage in one of potentially most important elements of any future blockchain. The community is currently patiently awaiting the launch of the ChainLink mainnet, which will definitely give us a better insight in real world capabilities of the oracle technology.

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Philipp Traugott
Philipp Traugott

Phil Traugott is a staff writer at CaptainAltcoin. As a trained marketing specialist for copywriting and creative campaigns, he has been advising top companies on the following topics: online marketing, SEO and software branding for more than 10 years. The topic of crypto currencies is becoming increasingly important for companies and investors and he found it very alluring and fitting for his skillset which prompted him to pivot his career towards blockchain and cryptocurrencies.

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