Swipe had integrated Chainlink in August 2020. Other cryptos and blockchain projects have followed since then.
Chainlink is strengthening its arguments to attract new players from 3 key sectors and win this adoption game.
New links on Chainlink
Chainlink’s decentralized oracles enable the secure connection of blockchains to real-world data.
According to a tweet from a Chainlink supporter, The Link Marine, the adoption raised to 29 projects of Chainlink since October 2020 alone.
This brings to 315 the number of projects or companies using Chainlink – 74 blockchains, 98 DeFi projects, 23 data providers, and 44 nodes.
The decentralized platform for the development of smart contracts with JavaScript, Agoric, is one of the projects recently integrated into Chainlink.
For Agoric, this integration allowed it to develop new products more quickly, without having to create customized data flows.
Major DeFi protocols such as Synthetix (SNX) and Kyber Network (KNC) have also been integrated into Chainlink.
Chainlink co-founder Sergey Nazarov commented on the success of the project: “We have come up with a cost-effective solution that makes sense: it is cheaper for a user to serve from one of our oracle networks, with 7 to 21 nodes, than it is to broadcast from a single node”.
Chainlink’s market share has grown significantly over the past two years to $4.27 billion.
Guarantees without guarantee of registration
Chainlink targets 3 growth sectors: insurance, gaming and enterprise architecture.
To make Chainlink more attractive to these sectors, it is working to make its oracles more secure.
The platform acquired the DECO protocol in August 2020; this oracle verification protocol, developed by Cornell University, is designed to prove the authenticity of sensitive data.
Despite all these efforts and the guarantees offered by Chainlink, many cryptos and blockchain projects are still reluctant to subscribe to their services for various reasons.
Some prefer to turn to its competitor, Band Protocol; others, such as Maker DAO (MKR), use their own oracle.
Will the Tron (TRX) oracle service initiated by Justin Sun, JustLink, which is supposed to compete with Chainlink, be able to make up for the lead it has taken in the cryptosphere? Chainlink is gaining credibility as its ecosystem grows: old attracts new, a network effect that will give challengers a hard time.
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