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More news/integrations:
Milestone Achieved: Custom NFT Price Aggregator with Chainlink & ZUZ Protocol
"...ZUZ Protocol is now using Chainlink Keepers and Chainlink Price Feeds to calculate the approximate value of Zeus NFTs and monthly staking rewards.
The advent of NFTs—and their recent boom in popularity—has created an entirely new category of digital collectibles, online memorabilia, and on-chain art. Amidst the volatility of NFT values, our team at ZUZ Protocol aims to showcase how an NFT can have verifiable intrinsic value. Aside from building confidence in the value of NFTs, we are demonstrating to the industry through our Zeus NFTs how to establish intrinsic value for NFTs over a period of time. "
https://zuzprotocol.com/zuz-nft-price-aggregator-with-chainlink/
Chainlink Price Feeds Are Now Live on Harmony Testnet, Opening Up Scalable DeFi Development
"...Chainlink Price Feeds are live and natively integrated on the Harmony testnet, giving developers native access to the DeFi industry’s leading decentralized price oracle solution. Harmony developers can now begin building and testing a variety of data-driven DeFi applications by referencing Chainlink oracles for high-quality, low latency, tamper-proof price feeds."
https://medium.com/harmony-one/chainlink-price-feeds-are-now-live-on-harmony-testnet-opening-up-scalable-defi-development-99c8a30eb130
Unizen’s CeDeFi Ecosystem Now Powered by Chainlink Price Feeds
"...the integration of Chainlink Price Feeds into the Unizen CeDeFi exchange, empowering our users to make informed decisions based on accurate, up-to-date, and tamper-resistant price information. Our integration of Chainlink Price Feeds, starting with ETH/USD, is an important step forward for our ecosystem, as Chainlink Price Feeds are the most widely relied on throughout DeFi and increasingly CeFi to determine the real-time value of cryptocurrency assets."
https://unizen-io.medium.com/unizens-cedefi-ecosystem-now-powered-by-chainlink-price-feeds-29ff95ff52b1
Chainlink Whales are starting to distribute Link to small investors.
Chainlink Whales Are Not Willing to Hold Coins: Here's Why
"Chainlink's price has been progressively rising since the end of July with 112 percent growth in less than a month."
https://u.today/chainlink-whales-are-not-willing-to-hold-coins-heres-why
Chainlink and Litecoin: Here’s how traders can book quick profits in the coming days
"...LINK may straight away test the $38-$39 range next..."
https://ambcrypto.com/chainlink-and-litecoin-heres-how-traders-can-book-quick-profits-in-the-coming-days/
Cardano, Solana and Polkadot compete for dominance ahead of Ethereum's ETH2 upgrade
"o Ethereum challenges Bitcoin's dominance as cryptocurrency market capitalization crosses $2 trillion for first time since May.
o Cardano is hot on Ethereum's tail and prepares for smart contract launch, ADA price rallies to $2.
o Proponents claim Solana and Polkadot are more technologically advanced than rival Ethereum"
https://www.fxstreet.com/cryptocurrencies/news/cardano-solana-and-polkadot-compete-for-dominance-ahead-of-ethereums-eth2-upgrade-202108130916
"Over the past week, Bitcoin and Ethereum’s price pumped by 8.2% and 7.5% respectively. However, most of the other coins managed to fetch higher returns to their investors. Solana’s value, for instance, appreciated by over 12% in the same timeframe. In fact, the alt was trading at $43.61 at the time of writing."
https://ambcrypto.com/solana-what-price-targets-can-traders-expect-from-this-alt/
Chainlink Oracles Now Running Live On Arbitrum One
"...SAN FRANCISCO, Aug. 12, 2021 /PRNewswire/ -- A key component of onboarding projects onto Arbitrum One—a fully-featured Optimistic Rollup layer 2 network that enables highly scalable and low cost smart contracts— is integrating critical infrastructure and tooling to power them. A common request from smart contract developers is access to Chainlink. Most notably, DeFi applications need high quality financial market data directly on-chain to power use cases like money markets, advanced DEXes, futures and options platforms, algorithmic stablecoins, and more..."
https://www.prnewswire.com/news-releases/chainlink-oracles-now-running-live-on-arbitrum-one-301354380.html
Why most crypto investors don't understand cryptos.
I'm basing the following on reading articles written by so called "investor experts" or the fact that Chainlink, for instance, is coupled to Bitcoin performance.
Mistakes in Crypto Investing:
1) A high percentage of crypto traders, first of all, don't understand "crypto technology". For example:
- Multiple interoperating decentralized oracle networks (DONs)
- Oracles and nodes
- Trust-minimized off-chain computation
- Cross-Chain Interoperability Protocol (CCIP)
- Infrastructure ecosystem, CI/CD, and product optimization
- Refactoring data pipelines in cloud environments
- Kubernetes clusters
- Chainlink Keepers
- Verifiable source of randomness for smart contract developers
- etc.
To be a good investor in cryptos, you need to understand how they work and what makes their value...just like investing in art, cars, real estate, etc.
2) It's a huge mistake to speculate price forecasts using the same methods as stocks.
Financial fundamentals (Income Statements and Balance Sheets), as well as key statistics and market factors are what should be included in analyzing stocks.
None of these apply to Chainlink.
3) Investors erroneously assume Link's price movement should/will be coupled with BTC's price movement. As a result, because so many investors believe that all cryptos prices are relative to BTC, prices do actually correlate to BTC for the most part.
This is another huge mistake for an investor.
Bitcoin's price is basically based on an intrinsic value. It's not based on it's actual use case solutions, technology or number of active bitcoin accounts (wallets).
Chainlink's price, on the other hand, should (and will eventually) be based on AAD; the active addresses derivative. Also known as Metcalfe's Law.
Chainlink is a blockchain and smart contract communications network. The value of a communications network is proportional to the square of the number of its users. It's not an intrinsic value.
The growth of a communications network will follow Metcalfe's law; growing exponentially, not based on intrinsic value or BTC price.
Summary:
The next time you see "experts" predicting Link's price based on Bitcoin's, or based on the methods used to forecast stock prices, be aware....that's not an "expert" on crypto investments.
Beefy Finance’s Moonpot Using Chainlink VRF on BSC To Power Prize Pools Draws
"...We’re excited to announce that Moontpot, the no-loss prize pool powered by the multi-chain yield optimizer Beefy Finance, has integrated Chainlink’s Verifiable Randomness Function (VRF) on the Binance Smart Chain mainnet. Expanding Beefy Finance’s selection of smart contract products with Moonpot provides users the chance to win prizes that can be greater than yield farming alone..."
https://moonpot.com/alpha/news/beefy-finance-s-moonpot-using-chainlink-vrf-on-bsc-to-power-prize-pools-draws/
Integration of Chainlink Price Feeds to Increase Robustness of the CoinFLEX Ecosystem
"...CoinFLEX is excited to announce the integration of Chainlink Price Feeds into our platform. Chainlink’s market-leading price feeds will serve as an additional layer of reliability, becoming the default source of price data in the unlikely event that our systems become unresponsive for a short period of time. This will give us a constant, decentralized source of price information and will allow us to test Chainlink before a potential deeper integration in the future.
CoinFLEX is an exchange where users can seamlessly trade perpetual contracts, collect interest on the world’s first interest-bearing stablecoin, and participate in yield farming via AMM+. The latter allows users to concentrate their liquidity into a price range of their choosing and earn yield from the trading activity within that range on CoinFLEX’s centralised order books.
With the availability of leverage, and the speed and efficiency of centralised orderbooks, AMM+ allows users to trade more with less, resulting in the most capital efficient automated market maker in the world. With CoinFLEX, ‘Link Marines’ can buy and trade LINK in our spot, futures and borrow/lendmarkets & can now add their LINK to the AMM+ in order to earn additional yield and make the most of their LINK holdings (www.coinflex.com/transparency)..."
https://coinflex.com/blog/chainlink-integration-announcement/
Regarding the message I posted on July 27 of this year, (the Reply To message), I mentioned that Link would climb to $29 right away just to reach the minimum range of the Active Address Derivative (Metcalfe Law). It was $19+ then.
Since then, AAD has "pulled" Link approaching that point as expected.
You can't fight mathematics. By the time it reaches $29, based on the constant stream of partners being integrated, it should (mathematically) keep climbing, but in an accelerated rate.
AAD doesn't have linear growth, but it grows at an exponential accelerated rate. Thus Link price should as well.
Note: This is not "my speculation", but an understanding of Metcalfe's Law.
Dolphins Finance will integrate Chainlink Price Feeds to secure critical functions of our lending/borrowing service
"...Dolphins Finance — Expert Defi platform which aims to bring honesty and transparency in the Defi space— will integrate Chainlink Price feeds in our lending/borrowing platform built on Binance Smart Chain. By integrating Chainlink’s industry-leading decentralized oracle network, Dolphins Finance will have access to high-quality, tamper-proof price feeds needed to secure critical lending/borrowing functions. This integration will allow us to leverage on Chainlink to create a secure, trusted, and liquid market on the Binance Smart Chain (BSC) and will provide our users with strong assurances that their transactions are handled safely..."
https://medium.com/@dolphinsfinance_78236/dear-community-1d1eabc33b2a
Recharge.Finance Will Integrate Chainlink VRF to Secure Recharge Zap Reward Contracts
"...We’re excited to announce that Recharge.Finance — will integrate Chainlink Verifiable Random Function (VRF) starting with the Binance Smart Chain soon to be followed with deployments to Ethereum and Polygon. By integrating Chainlink’s industry-leading decentralized oracle network, we can obtain access to a tamper-proof and auditable source of randomness needed to ensure that our new Zaps smart contract is being fed truly random inputs to allow trustless verifiable random reflections. Ultimately this creates a more exciting, transparent, and fraud-proof user experience, as users can rest easy knowing that the rewards are being determined with authenticity and integrity..."
https://medium.com/r3fi/recharge-finance-will-integrate-chainlink-vrf-to-secure-recharge-zap-reward-contracts-87566185e17b
This is why ChainLink needs to/will provide a much needed secure Chain Interoperability Protocol (CCIP):
Hackers start to return some of the $600 million they stole in one of the biggest crypto heists
"...Hackers exploited a vulnerability in Poly Network, a platform that looks to connect different blockchains so that they can work together..."
https://www.cnbc.com/2021/08/11/cryptocurrency-theft-hackers-steal-600-million-in-poly-network-hack.html
7 Key Takeaways From Smart Contract Summit #1
(To see details of these, use the link below).
1. Off-Chain and Cross-Chain Services Are Giving Developers A Next-Generation Toolkit for Building dApps
2. Global Enterprises Are Moving On-Chain
3. Smart Contracts Are Advancing Social Impact, From Financial Inclusion to Environmental Sustainability
4. CeFi Platforms Are Decentralizing While DeFi Accelerates
5. Gaming and DeFi Are Converging Around Dynamic NFTs
6. Ecosystem-Wide Initiatives Are Pushing Smart Contract Innovation Forward
7. The Demand Is Surging for Cryptographic Truth
https://blog.chain.link/smart-contract-summit-1-takeaways/
Solipay Will Launch a Chainlink Node to Provide Consumer Authorized Data to Blockchain dApps
"...Solipay is excited to join Chainlink’s market-leading decentralized oracle network by launching our own official Chainlink node. The Chainlink node serves as secure blockchain middleware that makes our existing APIs compatible with leading blockchain networks, enabling Solipay data to be broadcast into blockchains and sold directly to smart contract applications.
Additionally, the Chainlink node will cryptographically sign all data we supply on blockchains so users and dApps have strong integrity assurances of the data’s origination from Solipay.
The Solipay Chainlink node will make our authorized location data accessible to smart contracts, with future plans to also support Solipay’s collected browsing data and bank transaction data. Solipay only shares data once it’s been authorized by the individual who owns that data, giving consumers choice in how and where their data is shared. Once user authorized, this type of data will be useful in a variety of new smart contract applications, such as confirming users’ geographic regions for KYC compliance or issuing targeted marketing rewards when consumers are in certain locations. Ultimately, there are a variety of ways in which DeFi and other smart contract applications can use consumer data in an authorized, incentivized, and secure manner..."
https://solipay.medium.com/solipay-will-launch-a-chainlink-node-to-provide-consumer-authorized-data-to-blockchain-dapps-774b0071cd3c
2 More Integrations:
Avaxcells Will Integrate Chainlink VRF to Secure their PvP Battle Arenas and Tournaments
"...We’re excited to announce that Avaxcells — an NFT collection and Player vs Player RPG card game — will integrate Chainlink Verifiable Random Function (VRF) on the Avalanche blockchain. By integrating Chainlink’s industry-leading decentralized oracle network, we can obtain access to a tamper-proof and auditable source of randomness needed to allow players have a fair way to start each battle, using Chainlink Verifiable Random Function, we will use the returned data to determine which player attacks first on the PvP Battle Arenas and Tournaments. Ultimately this creates a more exciting, transparent, and fraud-proof user experience, as users can rely on a verifiable source of truth that the PvP game and Tournaments count with fair mechanics each fight..."
https://kaizen-group.medium.com/avaxcells-will-integrate-chainlink-vrf-to-secure-their-pvp-battle-arenas-and-tournaments-3446b8e8081
Bancor V3 to Use Chainlink Keepers to Simplify DeFi Usage and Add Advanced AMM Features
"...We are pleased to announce that we’re planning to integrate Chainlink Keepers as part of Bancor’s upcoming V3 update to further simplify the staking experience for liquidity providers and automate advanced trading features for Bancor users.
Chainlink Keepers is a decentralized service that uses low-cost, verifiable off-chain computation to automate on-chain processes when predefined conditions are met. The result is Bancor V3 being able to remove manual maintenance for end users through simple automated processes, making it even easier to earn passive yield on your assets in a set-and-forget fashion without impermanent loss..."
https://blog.bancor.network/bancor-v3-to-use-chainlink-keepers-to-simplify-defi-usage-and-add-advanced-amm-features-ea076da00c27
This is what's happening as Chainlink adds integrations:
Instead of telephones, substitute "integrations".
With all time third-party Chainlink integrations currently totaling 650, that means 43% of the project’s partners were onboarded this year. By contrast, roughly 250 partners integrated with Chainlink during all of 2020.
Chainlink is adding active addresses exponentially as integrations grow (like the telephones in the above example) ....eventually Link price will have to follow.
Like Facebook, Tik Tok, or Google, the number of users/active addresses determines it's value.
Link is unique, in that it represents value based on actual network usage (like social media) vs just a commodity price like many other cryptos.
As blockchain becomes more widespread, (common knowledge), Chainlink will be gold.
3 More Integrations:
Cryptomeda Integrates Chainlink VRF to Secure Randomized Attribute Generation
https://cryptomedatech.medium.com/cryptomeda-integrates-chainlink-vrf-to-secure-randomized-attribute-generation-81898e801f3a
DinoX Integrates Chainlink VRF to Secure Randomized Rewards Generation
https://dinoxproject.medium.com/dinox-integrates-chainlink-vrf-to-secure-randomized-rewards-generation-c6dc30488ed1
TraderMade Launches Chainlink Node to Provide DeFi With Premium Financial Index Data
https://tradermade.com/blog/tradermade-launches-chainlink-node-to-provide-defi-with-premium-financial-index-data/
Blockchain Interoperability : Why Is Cross Chain Technology Important?
Blockchain and distributed ledger networks are exploding by the day. Interconnecting these new chains is becoming a necessity as more people continue to take note of the emerging technology and its capabilities. Let’s dive in deeper to see what is blockchain interoperability and why does it matter so much.
The number of blockchain projects is on the rise in part because developers are thinking outside the box as they try to leverage the technology’s capabilities. The increase also comes on acknowledgment that no perfect solution will be able to address all blockchain needs at once.
A perfect example is the IOTA blockchain that seeks to enhance payments on the Internet of Things. VeChain, on the other hand, shares similar capabilities but with the aim of strengthening supply chain management on the blockchain. Stellar blockchain, on the other hand, seeks to make it easy for people to come up with a global payment network for solving low latency issues in remote areas.
Amidst the proliferation of blockchain projects, one thing stands out. All blockchains as well as ledgers and DAGs perform a different set of transactions and handle different amounts of data processing. It is also becoming increasingly clear that there are different networks and blockchains designed for specific labor unions, religions, community organizations as well as government departments.
The rapid development of blockchain is set to give rise to many different kinds of chains. One such technology that is becoming increasingly evident is Cross Chain Technology.
Blockchain Interoperability: What is Cross Chain Technology?
Cross Chain, technology is increasingly becoming a hot topic of discussion seen as the ultimate solution for enhancing interoperability between blockchains. In Layman terms, a Cross-chain Technology is an emerging technology that seeks to allow transmission of value and information between different blockchain networks.
Increased usage of established networks like Ripple, Bitcoin, and Ethereum while a good thing has given rise to many issues key among them being economical and technical scaling limitations. As discussed above most blockchain networks operate on isolated ecosystems as they address they try to resolve a unique set of needs.
The fact that the chains operate in isolation has mostly made it impossible for people to enjoy the full benefits the ledger technology. The inability of different blockchains to communicate with one another has made it impossible for people to enjoy the full benefits of blockchain technology. Cross chain, technology seeks to solve all these issues, by enabling interoperability between blockchains thus making it easy for them to communicate with one another and share information.
Cross Blockchain Compatibility
Cross-chain, protocol ensures interoperability between blockchains, thus enabling the exchange of value as well as information between various networks. Complimented with the benefits of public decentralized chains, such protocols should lay the foundation for blockchain mass adoption and use
Cross blockchain compatibility, allows different blockchains to communicate with one another without the help of intermediaries. What this means is that blockchains sharing similar networks will be able to transfer value between each other.
While in use in a business ecosystem, businesses will no longer have to contend only with clients on a network the business as built on. Instead, companies will be able to transact with clients from other compatible blockchains. The entire process will take place without any downtime or expensive transaction fees. Just as is the case with the Internet of value, cross blockchain compatibility will accord blockchain networks an effective means of value transmission.
Want to know which enterprise are implementing blockchain? Check out our list of top 20+ enterprises implementing blockchain technology now!
Who Is Leveraging Cross-Chain Technology?
Ripple is an excellent example of a blockchain project trying to explore cross chain transactions. While it is still in the early days of development, Ripple is trying to make it possible for people and entities to exchange various digital assets across different blockchains.
For starters, Ripple has already started helping banks, around the world, settle cross-border payments with one another across different currencies and cryptocurrencies. However, the blockchain project faces an uphill task to polish its cross-chain technology.
Importance of Blockchain Interoperability
The success of blockchain technology will come down to how different blockchain networks can interact and integrate. For that reason, interoperability between blockchains is the concept by which different blockchains communicate with one another all in the effort of enabling smooth sharing of information.
Interoperability is essentially the ability to see and access information across various blockchain systems. For example, should a person send data to another blockchain, the recipient should be able to read it, comprehend and react with little effort? However, that is not possible, at the moment, as it is impossible to share information between says Bitcoin and Ethereum blockchains.
Cross Chain, technology seeks to solve all this by enhancing interoperability between blockchains. Emerging projects are slowly buying the idea as they attempt to come up with platforms that can communicate with one another without the need of a third party.
Blockchain interoperability should go a long way in getting rid of intermediaries or third parties, synonymous with centralized systems. The ability of different decentralized networks to communicate with one another without any intermediaries should thus go a long way in giving rise to fully decentralized systems.
https://101blockchains.com/blockchain-interoperability/
Hedging Against Bad Weather with Cloud Datasets and Blockchain Oracles
"...open weather data and blockchain technology, combined with capabilities from Google Cloud, can create economic efficiencies and through sustainable agriculture mitigate climate change.
Unexpected adverse weather events lead to economic losses across a wide range of industries, and these events are becoming more common as we experience climate change. Examples include reduced crop yields during drought, disrupted travel itineraries during snowstorms, cancelled sports events during excessive rainfall, and existential risks and infrastructure failures caused by large-magnitude bad weather.
While we don’t yet have the technology to control the weather, the impact of adverse weather events can be mitigated when the events themselves are more predictable. Fortunately, more accurate forecasts can be made when more data is available. Google Cloud’s Public Datasets Program hosts petabytes of useful datasets, such as historical weather and climate data, that businesses can instantly access to optimize analytic models around weather risk and create data-driven solutions. And this is already happening; machine learning algorithms that are used for weather forecasting are being used to create financial products like weather insurance..."
https://medium.com/google-cloud/hedging-against-bad-weather-with-cloud-datasets-and-blockchain-oracles-7ba3e0150304
Announcing Chainlink-Filecoin Joint Grants for dApps Combining Decentralized Storage and Oracles
"...We are excited to announce that Chainlink and Filecoin are launching a joint grant initiative to accelerate development of hybrid smart contracts that combine Chainlink decentralized oracles and Filecoin decentralized storage within a single application.
Hybrid smart contracts leverage code running on the blockchain (on-chain) with data and computation from outside the blockchain (off-chain). Such dual architecture enables advanced forms of economic and social coordination that retain the tamper-proof and immutable properties of blockchains while getting additional capabilities through secure off-chain oracle services such as scalability, confidentiality, and connectivity to real-world data sources or systems. By bringing together Filecoin and Chainlink, developers can build end-to-end decentralized applications that have cost-efficient and immutable storage capabilities along with a universal and secure connection to external resources..."
https://blog.chain.link/announcing-the-chainlink-and-filecoin-joint-grant-program/
Celsius Secures Backend Pricing of Crypto Using The Chainlink, A Major Leap in CeFi Decentralization
"...In one of the most ambitious moves towards decentralization, Celsius is now leveraging the industry-leading Chainlink Price Feeds to increase reliability of price feed for our backend systems. The deeper integration with Chainlink involves the use and sponsorship of over 90 decentralized price feeds, making it one of the first times a CeFi platform is issuing loans to users based on a fully decentralized and transparent pricing mechanism..."
https://celsiusnetwork.medium.com/celsius-secures-backend-pricing-of-crypto-using-the-chainlink-a-major-leap-in-cefi-cd274efdc461
Introducing the Cross-Chain Interoperability Protocol (CCIP) for Decentralized Inter-Chain Messaging and Token Movements
(Poster: This is similar to what Polkadot does. Chainlink is providing a protocol that will standardize the way smart contracts can communicate to each other).
"...The growth of numerous independent blockchain ecosystems with varying optimizations and geographical niches has resulted in an increasingly multi-chain world. Being able to seamlessly tap into the advantages of each of these blockchains and their unique assets within a single application would drive a massive wave of new cross-chain smart contract development—no different than the proliferation of DeFi, NFT, and on-chain gaming economies when decentralized oracle services for real-world data and secure off-chain computation were introduced.
However, building cross-chain applications is notoriously difficult given the problems with existing cross-chain infrastructure. For one, there is extensive fragmentation in token bridges and messaging protocols, most being application-specific services between two distinct chains. Additionally, many bridges are fairly centralized with weak security guarantees, lack transparent or reliable node operators, and drive up costs and processing times for end-users. These limitations and vulnerabilities have already resulted in exploitation to the tune of tens of millions of dollars in funds lost, stunting cross-chain innovation.
In order to accommodate the growing ecosystem demand for inter-chain solutions, we’re excited to announce the upcoming launch of the Cross-Chain Interoperability Protocol (CCIP)—a new open-source standard for cross-chain communication. CCIP aims to establish a universal connection between hundreds of blockchain networks, both private and public, unlocking isolated tokens and empowering cross-chain applications for all on-chain ecosystems..."
https://blog.chain.link/introducing-the-cross-chain-interoperability-protocol-ccip/
ChainLink Active Charts, Research, News, Metrics, etc.
https://messari.io/asset/chainlink
Swisscom to become part of the world’s largest oracle network
"...Swisscom is joining Chainlink, the world’s largest oracle network, as part of a pilot initiative. The Chainlink network provides important data for what are known as decentralised financial applications (DeFi), through which transactions worth several billion US dollars are now processed daily, such as on Aave and Uniswap. The rapid growth of this market is giving rise to new types of value chains and business models that could also gain relevance for the Swiss financial market..."
The role of oracle nodes:
Many of today’s blockchain applications (smart contracts) often require off-chain data, such as price data for a financial contract or weather information for an insurance policy. Oracle nodes continuously feed this data into the Chainlink network, where it is merged and made available in aggregated form for blockchain applications. Since the data originates from many different oracle nodes, the Chainlink network is very robustly secured against failures and issues with individual oracle nodes.
https://www.swisscom.ch/en/magazine/new-technologies/swisscom-to-become-part-of-the-worlds-largest-oracle-network/
This new Chainlink (LINK) custom oracle solution is bridging CeFi and DeFi
"Chainlink's oracle solutions are coming to traditional finance via NAOS Finance, marking a critical step towards bridging CeFi with DeFi."
https://cryptoslate.com/this-new-chainlink-link-custom-oracle-solution-is-bridging-cefi-and-defi/
AccuWeather brings weather data to smart contracts by running a Chainlink node
"The weather information provider AccuWeather announced Wednesday that it is launching a Chainlink node to place its weather APIs directly onto blockchain-based smart contracts, according to a release.
AccuWeather APIs include weather information such as temperature, precipitation, wind speed, and natural disaster classifications. A few possible uses for AccuWeather-powered smart contracts include non-fungible tokens (NFTs) that can change depending on weather forecasts, weather prediction markets against natural disasters, and automatic supply chain shifts correlated with the weather, according to the weather firm.
“As one of the initial weather-related data products to join Chainlink, we are thrilled to expand our reach in bringing value to the emerging blockchain-based market,” Kurt Fulepp, Global Chief Product Officer of AccuWeather, said in the release.
Chainlink, an Ethereum-based network of decentralized blockchain oracles, allows off-chain data to be placed into smart contracts.
The crypto exchange Kraken also recently incorporated a Chalinlink node to facilitate price predictions on decentralized finance (DeFi) apps, and the digital asset investment firm Grayscale also added Chainlink’s native token, LINK, to its investment fund."
https://www.theblockcrypto.com/linked/113576/accuweather-api-smart-contracts-chainlink-node
Chainlink and AccuWeather to Bring World Class Weather Data on to Blockchains
"...AccuWeather Global Weather Center, August 4, 2021 - We’re excited to announce that global weather and digital media leader, AccuWeather, is bringing its world-leading weather data to blockchains by launching a Chainlink node. Chainlink is the industry-leading secure blockchain middleware, making APIs easily compatible and accessible with any blockchain. Through our Chainlink node, we can supply and sell AccuWeather’s data directly to smart contract applications running on numerous blockchains, as well as cryptographically sign our data so users know for a fact it came directly from our API.
The ability to connect our premium weather data to blockchain networks is critical to supporting the many new smart contracts being built on-chain for the weather industry. This is because smart contracts are data-driven applications that automate processes like product pricing and contract settlement based directly on data feeds. Thus, smart contract developers need high-quality weather data from sources like AccuWeather to ensure outcomes are representative of true weather conditions..."
https://www.accuweather.com/en/press/chainlink-and-accuweather-to-bring-world-class-weather-data-on-to-blockchains/994046
Three more integrations driving the Active Addresses Derivative higher:
NAOS Finance and Chainlink to Develop Oracle Solutions for Bringing Real World Assets On-Chain
https://medium.com/naos-finance/naos-finance-and-chainlink-to-develop-oracle-solutions-for-bringing-real-world-assets-on-chain-ef01474dbba0
Myobu Integrates Chainlink VRF to Secure The “Fountain of Fortune” Giveaway Contract
https://myobu.medium.com/myobu-integrates-chainlink-vrf-to-secure-the-fountain-of-fortune-giveaway-contract-d4190e451a2e
KokomoSwap Will Integrate Chainlink Price Feeds on BSC to Power No-Loss Prediction Markets
https://kokomoswap.medium.com/kokomoswap-will-integrate-chainlink-price-feeds-on-bsc-to-power-no-loss-prediction-markets-fad83c883790
Blockchain applications that will change the world in the next 5 years
"NFTs move beyond art and collectibles
Non-fungible tokens (NFTs) have emerged as a significant point of contention for many observers of the blockchain space. An NFT is essentially a digital token representing a totally unique asset, such as a piece of fine art or real estate. When represented by an NFT, an asset can be easily traded digitally across the world on blockchain technology. Famous examples of NFTs in the mainstream media include Tim Berners-Lee’s source code of the world wide web and digital collectibles from musical artist Deadmau5.
Digital art pieces and collectibles being sold as NFTs for incredibly high prices brought blockchain to the forefront of people’s minds. With NFT sales totalling US$2.5 billion so far in 2021, the likelihood of continued development in the space is steadily increasing. Over the next five years, the technology’s use and applicability will also increase. NFT concert tickets and plane tickets are already beginning to pull the technology away from solely being about art trading and into other practical use cases.
NFTs create an unparalleled and verifiable level of authenticity that can be easily incorporated into the everyday ongoings of the global economy. In the future, domains, unique collector items and in-game items could all potentially be represented on the blockchain as an NFT.
DeFi’s Next Steps
Decentralized finance (DeFi) is another increasingly blossoming application of blockchain technology that is set to gain significant momentum in the next 5 years. In Q1 2021, the dollar value of assets under management by DeFi applications grew from roughly $20 billion to $50 billion.
DeFi is a form of finance that removes central financial intermediaries, like banks, to offer traditional financial instruments that utilize smart contracts on blockchains. An example of DeFi in action is the plethora of new decentralized applications now offering easier access to digital loans — users can bypass strict requirements of banks and engage in peer-to-peer lending with other people around the world.
The next five years are vital for DeFi and will see dramatic growth in its applications, regulatory compliance associated with the technology and its overall use. Celebrity investor Mark Cuban, who gained notoriety in the blockchain industry through his advocation of NFTs, has suggested that “banks should be scared” of DeFi’s rising popularity. Although considered in its infancy, DeFi contracts had a combined value of over $41 billion in March of 2021, leading one to assume that Mark Cuban’s foresight is showing increasing signs of ringing true..."
Read more here:
https://forkast.news/blockchain-applications-change-world-next-5-years/
Two more integrations. . . LINK Active Address Divergence is growing
MOAR DeFi Integrates Chainlink Price Feeds to its Secure Lending Operations
"...MOAR, the first derivative-aware DeFi lending protocol, is thrilled to announce our integration of Chainlink on mainnet to value assets, calculate asset risk parameters, and provide valuation parity of our innovative Booster derivatives with their underlying derivative provider, UNION’s C-OP. By sourcing data through the industry-leading decentralized oracle network, Chainlink enables MOAR users to get strong assurances that deposited assets are accurately priced and the solvency of lending pools are securely maintained.
MOAR will begin by integrating the following Chainlink Price Feeds: ETH/USD, BTC/USD, DAI/USD, and USDC/USD. These decentralized price oracles will be referenced by MOAR smart contracts to calculate deposited assets’ collateral value when used as borrows — borrow capacity used by accounts — and liquidation logic..."
https://medium.com/moar-defi/moar-defi-integrates-chainlink-price-feeds-to-its-secure-lending-operations-60d4d408be2
Gravis Finance Will Integrate Chainlink VRF to Secure Revolutionary NFT Farming
"...We’re excited to announce that Gravis Finance, a DeFi ecosystem focused on NFTs — will integrate Chainlink Verifiable Random Function (VRF) on the Polygon blockchain. By integrating Chainlink’s industry-leading decentralized oracle network, we can obtain access to a tamper-proof and auditable source of randomness needed to provide full random generation for our Loot Boxes mechanics of a brand new gamified NFT Farming that we called (A)steroid Mining. Ultimately this creates a more exciting, transparent, and fraud-proof user experience, as users can provide a smooth and fair distribution of in-game gear and ships parts to earn and play section of Gravis Finance Universe..."
https://gravis-finance.medium.com/gravis-finance-will-integrate-chainlink-vrf-to-secure-revolutionary-nft-farming-756cb03ee78b
ParaSwap Will Integrate Chainlink Keepers to Bring Limit Order Functionality to Its DEX Aggregator
"...ParaSwap is pleased to announce that we will integrate Chainlink Keepers on Ethereum to bring limit order functionality to our DEX aggregator protocol. Chainlink Keepers use decentralized and provably reliable off-chain computation to monitor user-defined conditions and then call on-chain functions once conditions are satisfied. ParaSwap will leverage Chainlink Keepers to trigger the execution of users’ limit orders when asset prices cross predefined price points. This will empower traders to better manage their portfolios and hedge against volatility without manual interventions, ultimately helping them sleep better at night..."
https://paraswap.medium.com/paraswap-will-integrate-chainlink-keepers-to-bring-limit-order-functionality-to-its-dex-aggregator-51cefc484403
Taking Daily Active Address Divergence vs. Price to a Simplistically Effective New Stratosphere
"...It can be argued that there is no greater and more accurately predictive metric in cryptocurrency than daily active addresses. The metric is defined by the Santiment Academy as "...the number of distinct addresses that participate in a transfer for a given asset in any given day... Each address is counted only once for the day. Both the senders and the receivers of the asset are counted." In other words, this metric is measuring the amount of network activity of any given asset, based on the amount of unique participating addresses. Over time, prices tend to follow DAA on a long-term time scale, given enough time for price to roughly lag behind its total address activity. Here's proof:
It's far from a perfect correlation, and that's a good thing. If BTC's market value price was perfectly baked into real-time fluctuation in active addresses, then there would be no real marketplace for it due to the lack of edge traders can have..."
https://insights.santiment.net/read/taking-daily-active-address-divergence-vs.-price-to-a-simplistically-effective-new-stratosphere-5905
Link will have to climb to $30, right now, to reach it's DAA divergence to date. At 1.4 integrations per day, it'll have to be at/above $35 next month. This will accelerate at an exponential value, until every integration in the world has access to blockchain.
LINK’s Price Divergence - (Metcalfe's Law kicking in)
"...After remaining in the bearish zone for almost the entire month of July, LINK’s Price DAA Divergence finally stepped into the bullish zone on the 27th. This metric tracks the relationship between the alt’s price and the number of daily addresses interacting with it.
Since the beginning of this year, this indicator has flashed bullish signs only during the end of every month. The same carried forward to the initial few days of the subsequent month, and then translated into a bearish sign. Furthermore, the past six bullish divergences did not prolong themselves for more than 4 days.
However, at the time of writing, this indicator was in the bullish zone for the sixth consecutive day.
According to the attached chart, LINK’s valuation has risen by $1 to $4 every time a bullish signal flashed this year. As a matter of fact, the alt’s price has already risen by $5 this time. Looking at the way things have unfolded for LINK this time, it can be claimed that the ongoing rally might end up sustaining itself for a couple of days, at least.
Additionally, it is noteworthy that LINK’s price has not always reacted immediately during such transitionary phases. Hence, traders can expect the value of this alt to hike a little more over the coming week.
https://ambcrypto.com/traders-can-expect-chainlink-polkadots-prices-to-move-in-this-direction/
Chainlink Labs’ Johann Eid Explains How Oracles Fight Financial Censorship At EthCC
"...When people use a centrally-controlled platform like Robinhood, Eid explained, they mistakenly believe that their funds are theirs to use when and how they please. But when Robinhood cut users off to protect its own interests in unpredictable conditions, people quickly realized how little control they had over their assets.
Eid put it simply: “When you give your money to a [centralized] third party, that’s their money now...”
https://chainlinktoday.com/chainlink-labs-johann-eid-explains-how-oracles-fight-financial-censorship-at-ethcc/