Blockchain Oracles Could Propel Chainlink to New Highs
Chainlink’s CEO, Sergey Nazarov stated that one substantial factor boosting the corporate adaptation of blockchain technology is- trustworthy oracle services and products, that connect blockchain programs to real-world issues, and vice versa. According to him, blockchain-based agreements secured to real-world events, accurately and securely – are the subsequent “leap forward” that will take the industry to new heights.
At CoinDesk’s Invest: Asia conference, Nazarov talked about Chainlink’s plans for user adoption of Oracle products and services in the Asia-Pacific region and beyond. With the new partnerships, privacy improvements in the pipeline, and price data feed, Nazarov revealed what’s on the table for the two-year protocol.
He also talked about recent allegations made by blockchain analytics company AnChain.ai regarding some “pump-and-dump” trade activity with Chainlink’s LINK token.
As per reports, the LINK token, which was priced at $0.10 during the initial crowd-funding in September 2017, used to pay node operators of the Chainlink platform, has climbed over 1,000 percent, now listed at $1.70.
The LINK’s market capitalization even trifled with a $1.4 billion valuation in July soon after it was placed on the Coinbase Pro cryptocurrency exchange, but, since then, the token’s value had weakened significantly with a current market capitalization of about $600 million.
Although, Nazarov was adamant about the volatility in token price, and declared that its activity had nothing to do with the ongoing operation of his team. He stated:
“I think the nuance here is that crypto markets and the companies that build the technology are to a large degree separate.”
Matt Ocko, the managing partner at venture capital firm Data Collective, who remains a major investor in Chainlink, stated that the LINK token, despite being volatile has good “operational value” for its holders. He added:
“To Chainlink’s credit, they didn’t set out like some of their peers. Some folks built things on tokens that were purely speculative. Chainlink did the exact opposite.”
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