March 6, 2023
Tron (TRX)
Tron is a proof of stake cryptocurrency that has been built on the Tron blockchain network.
Bright Ideas: Chainlink (LINK)
Chainlink is a decentralised Oracle network that provides a bridge between off-chain data and blockchain networks.
Price:
$6.31
Mkt Cap:
$3,442,953,156
View Coin Page
Project Fundamentals
- Chainlink helds solve issues surrounding the centralisation of data provided to smart contracts, aiming to validate or conclude that the data being provided is correct.
- Chainlinks Proof of Reserve consensus mechanism uses a network of node operators to acquire and analyse reserve data.
- The native token of Chainlink is LINK which has a maximum supply of 1 billion tokens. LINK is used to compensate node operators for their provision of external data.
Partnerships / Implementation
- Since 2019 Google and Chainlink have been collaborating to provide fully decentralised weather data directly from the Google cloud.
- Solana Dapp, Saber announced it would be using Chainlink data feeds to provide automated market who invented mor making services.
- NFT marketplace UREEQA has also partnered with Chainlink to implement live sports data feeds.
- Chainlink’s data feeds can be used in mirrored assets, stablecoins, supply chains, prediction market, De-Fi and Parametric Insurance.
Roadmap and Announcements
- The ambitious and long-term outlook provided by the Chainlink 2.0 Whitepaper is the most significant outline of the project’s future.
-  “We foresee an increasingly expansive role for oracle networks, one in which they complement and enhance existing and new blockchains by providing fast, reliable, and confidentiality-preserving universal connectivity and off-chain computation for smart contracts,” Chainlink.
- The Chainlink 2.0 Whitepaper identifies 7 key areas that the network will prioritise including: Hybrid Smart Contracts, Abstracting away complexity, Scaling, Confidentiality, Order Fairness for transactions, Trust minimization and Incentive based Security.
- Zeus Finance announced in September 2022 that it will integrate Chainlink Keepers.
- In late September 2022, International Banking services provider SWIFT announced it is working with Chainlink on a cross-chain interoperability protocol (CCIP) in an initial proof-of-concept.
Technical Analysis
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