Chainlink opens $487T to blockchain industry with innovative tech

CRYPTO_NEWS LINK

The Chainlink Oracle network remains significant in bridging the gap between centralized and decentralized systems in the finance industry. As the crypto market looks forward to the start of “Altcoin Season,” Chainlink (LINK) outperforms its long-standing competitors. 7-days consecutive gains have surged past 11 percent.  Chainlink is positioned to solve a major problem in the blockchain industry, one that could rake in trillions of dollars for the entire crypto and blockchain industry. As Forbes highlighted in one of its most recent publications, Chainlink is the bridge between blockchain technologies and the real world. Chainlink is a decentralized oracle network that was built on Ethereum. Chainlink has gained traction in terms of adoption, since its inception. It is unsurprising that Chainlink is up there with a handful of other leading networks, when its use cases are considered. The network was designed to facilitate the transfer of tamper-proof data from off-chain sources to on-chain smart contracts.

 

 Oracles remain essential for the conveying of information in the real world to smart contracts on a blockchain. However, a centralized Oracle network could create a major vulnerability point for blockchains. This is where Chainlink comes in. Using multiple data providers, Chainlink provides information to blockchains without “creating a centralized access point” as Forbes noted. As Forbes further details in its publication; Cryptocurrency’s total market capitalization hovers around $1 trillion, however, according to McKinsey, the global financial system transacted over $5.76 trillion in a single year and is worth upwards of $487 trillion. The US residential real estate industry is estimated to be worth $43.4 trillion according to Zillow, and the U.S. healthcare system is estimated to be worth $4.1 trillion according to the Center for Medicare and Medicaid.Follow us for the latest crypto news! Oracle networks like Chainlink are important for blockchains because the metrics above give a glimpse into a large number of values available of-chain, hence why a bridge between centralized and decentralized systems is needed. Chainlink (LINK) is amongst the few altcoins building momentum in the green zone, as the market enters Altcoin Season Meanwhile, Link, the native cryptocurrency for Chainlink could also benefit from Chainlink’s mass adoption. If Chainlink continues to dominate the blockchain industry, LINK could record a significant level of adoption, as investment interest from market players is likely to increase.

 

     No spam, no lies, only insights. You can unsubscribe at any time. In terms of market value, Chainlink is the 19th most valued asset by market cap. The altcoin has outperformed, since its inception into the market, thanks to Chainlink’s dominance in the market. This week, Chainlink (LINK) appears to be one of the strongest standing altcoins in the market. As key players welcome “Altcoin season,” Link stays ahead of many of its rivals with gains trumping its competitors. At the time of this report, LINK is trading at a price of $7.98. Although Link is down more than 7% in the last 24 hours, our data shows that 7-day consecutive gains have surged past 11 percent. Crypto News Flash does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. Readers should do their own research before taking any actions related to cryptocurrencies. Crypto News Flash is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned. 

 

Source : [Chainlink opens $487T to blockchain industry with innovative tech](news.google.com/rss/articles/CBMikAFodHRwczovL3d3dy5jcnlwdG8tbmV3cy1mbGFzaC5jb20vY2hhaW5saW5rLW9wZW5zLTQ4Ny10cmlsbGlvbi10by1ibG9ja2NoYWluLWluZHVzdHJ5LXdpdGgtaW5ub3ZhdGl2ZS10ZWNoLWNhbi1pdC1kcml2ZS1saW5rLXByaWNlLXRvLTEwLXJlcG9ydC_SAQA?oc=5) undefined - Crypto News Flash / April 19, 2023

Join our 70k+
tribe of Akters

Have any questions?

Check our Q&A

About the AKTIO coin

Benefit fully from our ecosystem

What’s new in the App?

We’re adding new features

Customer support

support@akt.io

+353 1 574 7382

+39 06 4525 6900

Opening hours:

Monday to Friday: 9am - 5pm CET

Learn

News

Glossary

AKT Academy

Automata Pay

65-66 Warwick House 4th

Floor, Queen Street, London

England, EC4R 1EB

Automata ICO Ltd

3rd Floor Ormond Building,

31-36 Ormond Quay Upper,

Dublin 7, D07 Ee37

Automata Pay Europe Ltd

3rd Floor Ormond Building,

31-36 Ormond Quay Upper,

Dublin 7, D07 Ee37

Automata ICO Ltd

Italian Branch

Via Archimede, 161,

00197 Roma

Italy

Automata Pay Ltd, Reg number 12208424 and incorporated in the United Kingdom is the registered agent of Modulr FS Limited, a company registered in England with company number 09897919, authorised and regulated by the Financial Conduct Authority as an Electronic Money Institution (Firm Reference Number: 900573). Traditional currency will be safeguarded by a licensed bank in segregated accounts in accordance with regulatory requirements.

Automata Pay Europe Limited, Reg number 69028 and incorporated in Ireland is the registered agent of Modulr FS Europe Limited, a company registered in Ireland with company number 638002, authorised and regulated by the Central Bank of Ireland as an Electronic Money Institution (Institution Code C191242). Traditional currency is safeguarded as e-money in accordance with our regulatory obligations. Traditional currency will be safeguarded by a licensed bank in segregated accounts in accordance with regulatory requirements.

Automata ICO Limited, Reg number 690280 and incorporated in Ireland has applied for a Virtual Asset Service Provider registration with the Central Bank of Ireland. Whilst the application is ongoing we are permitted to continue business as a Virtual Asset Service Provider in line with the Central Bank of Ireland's regulatory disclosure statement as required under section 106L of the CJA 2010 in relation to registered VASPS. It is important to note that a registration as a VASP is a registration for Anti-Money Laundering (AML) and Combatting the Financing of Terrorism (CFT) purposes only. While Automata ICO Limited does have certain financial crime control obligations under this registration, cryptoasset services remain largely unregulated. The Financial Ombudsman Service or the Financial Services Compensation Scheme do not apply to the cryptoasset activities carried on by Automata ICO Limited.