According to the cryptocurrency rating company Weiss Ratings, Chainlink (LINK) will lie at the center of the cryptocurrency revolution.
US-based rating company Weiss Ratings claims that Chainlink (LINK) is ready to take the stage at the center of a billion-dollar cryptocurrency revolution.
The company says the oracle network Chainlink is well positioned to take advantage of smart contracts and the growing growth of decentralized finance (DeFi):
“DeFi platforms are very hot with about $ 1 billion of collateral. Oracles are strengthening not only DeFi, but everything that second and third generation cryptocurrencies do. Therefore, it would not be an exaggeration to say that Chainlink lies at the center of the cryptocurrency revolution. ”
Before the existence of Chanlink, smart contract platforms could only do business with the data contained in the blockchain. Applications were limited as data outside the blockchain could not be accessed, such as market data, event data or bank payments.
Chainlink acts as a bridge between real world data and data in the chain. The Oracle network receives data from the blockchain and feeds it.
“Ethereum also relies on Chainlink”
On the other hand, cryptocurrency analysts Juan M. Villaverde and Bruce Ng say that most cryptocurrencies are far ahead of their crypto adoption due to the unique use of Chainlink. Analysts; They point out that smart contract-oriented cryptocurrencies like Ethereum (ETH), Tezos (XTZ), Fantom (FTM), Polkadot (DOT) and Zilliqa (ZIL) rely on Chainlink to obtain real-world data.