Chainlink began as an ERC-677 token on Ethereum in 2017. At present it secures over 80% of Ethereum's DeFi by Complete Worth Secured. Aave's $50B+ TVL in lending markets runs on Chainlink value feeds. Lido's $24B+ in liquid staked ETH depends on Chainlink oracles. A whole bunch of different Ethereum protocols rely on Chainlink to perform.
The Chief Scientist behind it’s Ari Juels, who co-formalized Proof of Work in a 1999 paper, NINE years earlier than Bitcoin existed.
SWIFT (11,500 partnering banks, $150 trillion moved yearly) is constructing their onchain infrastructure utilizing Chainlink. UBS accomplished the primary manufacturing tokenized fund workflow with it. JPMorgan settled tokenized treasuries cross-chain via it.
But Chainlink ranks outdoors the highest 10 by market cap. Actually, they sit #20. Memecoins (sure, I embrace Ripple right here) with no elementary utility rank increased ☠️
As an admitted Chainlink rabbit gap explorer, I’ve my biases. However I’ve spent appreciable effort wanting on the tech and the partnerships to know why their decentralized oracle networks may very well be the lacking hyperlink to institutional adoption of Ethereum and crypto writ massive. I hope you gained’t thoughts that I made an enthusiastic 28 minute video about it.
Full disclosure: That is unpaid content material however admittedly, I lean hyper bullish and the video exhibits it. I didn’t cowl draw back arguments such because the centralization issues as a result of I needed to current the strongest potential case. Joyful to take any feedback and foster constructive dialogue right here!
Watch my explainer right here:
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If we're assembly for the primary time, hello 👋! I discover crypto youtube to be an enormous cesspool. Consequently, I began constructing my channel to unfold the great phrase on good work in crypto — one thing with substance and humanity.
Dropping a like, sub, and remark goes a LONG approach to supporting me, so please contemplate doing so!
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