Chainlink (LINK) is printing a new all-time high as more and more projects take advantage of its technology.
Dogecoin is currently breaking all records, but projects with a more serious background than DOGE can also look forward to strong price increases these days. Right at the forefront: Chainlink (LINK). The token of the decentralized Oracle network of the same name also set an all-time high on May 5, surpassing the US $ 50 mark for the first time. At the time of going to press, LINK is trading at USD 48.58 again, up 13.7 percent in a 24-hour comparison. With a market capitalization of USD 20.1 billion, Chainlink has moved up to rank 12 among the largest cryptocurrencies by market capitalization.
Social tokens – the next big thing?
Investment trend: social tokens
Find out more in the leading magazine for blockchain and digital currencies
(Print and digital)
☑ 1st edition free of charge
☑ Over 70 pages of crypto insights every month
☑ Never miss any more investment opportunities
☑ Free postage to your home
To the crypto compass magazine
More and more projects rely on Chainlink
The positive development of the Chainlink course corresponds in time with a series of messages that testify to the growth of the Chainlink ecosystem. More and more projects are using Chainlink to feed their smart contracts with off-chain data. On the one hand, this involves reliable price data for projects in the field of decentralized finance (DeFi). Because Chainlink is in principle compatible with every network, the cooperation is by no means limited to Ethereum-based projects. Chainlink announced, among other things, new partnerships with the decentralized exchange (DEX) WOWswap, which is based on the Binance Smart Chain (BSC). Other DeFi projects that have recently relied on price data from Chainlink include Bonded.Finance and the Polkadot-based Exchange Coinversation.
BTC-ECHO Magazin (5/2021): Social Token – the next big thing?
The industry magazine for Bitcoin and blockchain investors.
Exclusive top topics for a successful investment:
• Investment trend: social tokens
• Coinbase IPO
• The 5 biggest Bitcoin crashes
• Market analysis from a professional trader
• Bitcoin mining with hashrate tokens
Order the free copy >>
Blockbuster VRF
In addition to the decentrally determined price data, another Chainlink technology is enjoying growing popularity: VRF (Verifiable Random Function). VRF is a generator of random numbers that is said to be particularly resistant to manipulation. Especially in the boom sector of non-fungible tokens (NFT), more and more projects are using Chainlink VRF. The Korean gaming platform Bora uses VRF, for example, to enable new functions such as the creation of random rewards for completed missions. The NFT platform Uniqly wants VRF to randomly award prizes to users who purchase certain NFT and other products. Upshot, a new platform that uses crowdsourcing to determine NFT prices, has also recently started using Chainlink VRF. In addition, CondorFi is another project from the BSC-based NFT sector for Chainlink’s decentralized random number generator decided.
The above Chainlink integrations were all announced within the past seven days. The bullish news, which testify to a steadily growing adoption of the decentralized Oracle protocol, may have contributed to the fact that the LINK price has printed a fresh all-time high.