ChainLink (LINK) announcement that they will be launching ChainLink Go in the first quarter of 2018 sparked excitement in the crypto arena. The altcoin is yet to see its better days with ChainLink Alpha going live two days ago. LINK seeks to take over the cryptospace in a quiet yet disruptive manner with the coin having no significant competitors as of yet. This may well lead its path to $20 when all parties realize that this may well be the most important altcoin yet.
This new idea by ChainLink (LINK) to link smart contracts in different blockchain networks has played a major role in advancing the use of oracle technology. ChainLink network is well distinguished by the proof-of-concept embedded in its blockchain. Users in the platform can buy Link coins which they use to pay for smart contracts approved within the network. This is what Sergey; LINK’s CEO had to say when asked what role crypto enthusiasts can play in enhancing the Chainlink network,
“I think it would be good for other well-made projects, and individual smart contracts developers that need oracle to know about us as a solution; so far good technical teams like Open Zepplin have chosen to work with us after looking at our approach, and we’re now gathering info about what ChainLinks other developers would find most useful.”
Chainlink brings to the crypto field what many blockchain networks and cryptocurrencies have not managed; the altcoin’s team is currently working with a couple data providers, API services and payment in taking the smart contract to the next financial level. Investors should be keen on the Chainlink (LINK) coin performance to avoid missing out on crypto gains as the coin continues to be bullish. A few partnerships associated with LINK that could accelerate this bullish trend have been outlined;
- Open Zepplin Partnership
Zepplin Open System has played a key role in the development of smart contracts by enhancing speed and making transactions secure. ChainLink (LINK) has a confirmed partnership with Zepplin that has funded digital assets worth $ 1.5 billion.
- First Intel SGX secured link in Crypto
ChainLink continues to be part of the future of using an oracle to approve smart contracts within networks. A partnership with Cornell’s IC3 is currently working towards Town Crier which will be a patent-pending system. This system will play a significant role in ensuring that data is obtained from existing and trustworthy sources.
ChainLink’s (LINK) future continues to look bright as the network receives potential players utilizing the smart-contract linking blockchain. The altcoin is among the top 100 ranked cryptocurrencies in coinmarketcap amid speculations of potential partnerships along a valuable working product. ChainLink’s potential partners that could change the coins’ fate are well-known players from different industries;
- Request Network
ChainLink might be very close in joining the development of a decentralized and standardized PayPal. Request network is currently investigating ChainLink as a possible solution for FIAT integration.
- Origami Network
Origami network which aims at being full-stack blockchain enabled have stated that they will use ChainLink for their review. Approval of a company’s API to check a customer’s legitimacy will be done within the ChainLink network.
- Open Money
ChainLink is currently competing with GNOSIS and Oracalize to provide a fast and secure network for Open Money. In this case oracle would need to provide real-time values of crypto/fiat trades to eliminate arbitrage that can arise.
ChainLink has gone to the extent of being noticed by those in the entertainment crypto arena. Ceek which offers VR music experiences has listed ChainLink in their whitepaper as a solution for direct purchases through smart contracts.
ChainLink has worked with SWIFT after winning the Innotribe’s Industry Challenge in 2016. The project involved a proof-of-concept demonstration of how bond payments can be automated via ChainLink.
ChainLink (LINK) replicates the volatility in the crypto arena but currently enjoys a market cap of $266,504,700 with 350,000,000 LINK coins in circulation. The altcoin has been bullish since the second week of February after reducing its price by close to 50% in the bearish crypto market that occurred in late January. LINK coin currently trades at $ 0.76 and is expected to increase in 2018 for a coin that went for as low as $ 0.25 in September 2016. Crypto enthusiasts are curious about the new technology brought by oracle which continues to be a plus for the LINK coin.