One crypto will become the center of the crypto revolution and it will not be Bitcoin, according to the Weiss Ratings investment analysis company so let’s read more in the upcoming Chainlink news today.
The US-based analysis firm Weiss Ratings says that one crypto will become the center of revolution and that will be Chainlink, taking the stage. Weiss Ratings said that the oracle network Chainlink is in the perfect position to leverage the growth of smart contracts and DeFi:
“DeFi platforms are red-hot with nearly $1 billion in collateral pledged. Oracles empower not only DeFi, but just about everything that 2nd & 3rd-generation cryptos do. So, it’s hardly an exaggeration to say that Chainlink will lie at the heart of the crypto revolution going forward.”
Before Chainlink existed, the smart contracts platform will manage data that is already available within the blockchain. The applications were limited because the data outside of the blockchain such as the market data, events data, and the bank payments become inaccessible. Chainlink is created to change the game by acting as a bridge between the real-world data and on-chain data as the oracle network takes data outside of the blockchain.
The crypto analyst Juan M. Villaverdge and Bruce Ng said that because of Chainlink’s unique use case, the cryptocurrency is ahead of most cryptocurrencies in terms of crypto adoption. They pointed out that the smart contract such as Tezos, Ethereum, Fantom, Zilliqa, Polkadot, and all rely on the Chainlink services to source real-world data:
“Chainlink already supplies secure and reliable price feeds to DeFi platforms like Synthetix, Compound, Aave and 20 others.”
Chainlink is one of the best-performing alternative crypto assets this year and now, the standout cryptocurrency hit a new high in the number of Twitter followers. According to the market data firm CryptoCompare, social media followers are surging past new highs. Social media metrics are not the conventional way to measure cryptocurrency trends but these usually indicate a strengthening community and improving sentiment on the market. Bitcoin at the same time, and its Twitter dominance, remains well above LINK’s 41% to over 5%. The community’s sentiment around LINK seems to be improving because of two factors including new partnerships and the growth of decentralized finance.
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