In the past October, 29 projects integrated Chainlink, the most popular oracle project.
According to the data released by Twitter The Link Marine, the current decentralized oracle provider has become a force that cannot be ignored in the cryptocurrency ecosystem. Since its establishment in 2017, it has been integrated with 315 projects.
The oracle is a technology in the blockchain field, which refers to the provision of credible external data for smart contracts on the blockchain. Chainlink is currently the leader in the oracle field.
Chainlink’s decentralized oracle is designed to securely connect the blockchain to real-world data. They are quickly becoming a ubiquitous part of the cryptocurrency ecosystem. Among the integrated 315 projects, 74 blockchain projects, 98 decentralized finance (DeFi) projects, 23 data providers, and 44 are included. node.
Widespread applications have promoted the value of Chainlink’s native token LINK. According to the data, in just two years, its market value has increased from US$101 million to US$427.5 million.
The most recent project integrating Chainlink is Agoric, a decentralized platform that uses JavaScript to develop smart contracts. The project announced that using Chainlink can develop new products faster without creating custom data sources, allowing developers to integrate DeFi applications more effectively.
According to an earlier report by “Betwee”, Chainlink co-founder Sergey Nazarov said, “We are cost-competitive, and it is cheaper for users to use our 7 to 21-node Oracle network than broadcasting from one node. “
Other popular DeFi protocols, such as the asset market Synthetix and the token trading platform Kyber Network, are also integrated with Chainlink. In addition, it has also expanded beyond the Ethereum project, Chainlink, Polkadot and Tezos and other networks are integrated, and has established partnerships with Swift, Oracle and Google.
Chainlink is also working to make its oracles more secure and make new DeFi use cases possible. In August of this year, it acquired the DECO oracle verification protocol created by Cornell University. The purpose of this acquisition is to enhance the attractiveness of Chainlink in gaming, insurance and enterprise architecture, which are the three growth areas identified by Nazarov.
Author Liang Che
