Blockzeit
  • News
    • Business
    • Politics
    • Metaverse
    • NFTs
    • Markets
    • Investing
    • Technology
    • Trends
  • Tools
    • Crypto Charts
    • Crypto Heatmap
  • Education
    • Reviews
    • Guides
    • Bitcoin Price Analysis
  • Crypto Exchanges
No Result
View All Result
  • EnglishEnglish
    • EnglishEnglish
    • DeutschDeutsch
    • PortuguêsPortuguês
Buy Crypto
  • News
    • Business
    • Politics
    • Metaverse
    • NFTs
    • Markets
    • Investing
    • Technology
    • Trends
  • Tools
    • Crypto Charts
    • Crypto Heatmap
  • Education
    • Reviews
    • Guides
    • Bitcoin Price Analysis
  • Crypto Exchanges
No Result
View All Result
Blockzeit
No Result
View All Result
Home Technology
block chain 3513216 1920

block chain 3513216 1920

Chainlink 2.0: Why Altcoins Will Soar in 2021

Aaron Moses by Aaron Moses
April 19, 2021
in Technology
Reading Time: 3 mins read
0
Share on FacebookShare on TwitterShare on LinkedinShare via WhatsappShare via Email
  • Chainlink stunned crypto community with release of new white paper titled Chainlink 2.0

On April 15, the team at Chainlink stunned many in the crypto community with their release of a new whitepaper titled Chainlink 2.0.

Introducing #Chainlink 2.0: Next Steps in the Evolution of Decentralized Oracle Networks, a 136-page second whitepaper, which describes how Hybrid Smart Contracts in #DeFi and beyond will reach new heights by utilizing Decentralized Oracle Networks. https://t.co/OxVkiY7jq8

— Chainlink – Official Channel (@chainlink) April 15, 2021

In case you didn’t know, Chainlink is one of the largest blockchain companies by market cap. And it’s a blockchain oracle.

There are many blockchain oracle projects, but Chainlink is the biggest. Oracles are very unique in the blockchain world because they act as bridges between what is called “on-chain and off-chain data”. Off-chain data means anything that exists out off the blockchain. On-chain data is the data on the blockchain. So oracles allow blockchains to access information without compromising the privacy of the on-chain data.

Chainlink 2.0 will broaden the use of what’s called “hyrbrid smart contracts”.

Elliotrades Crypto gave his assesment in a recent video of what he believes these hybrid smart contracts are. He said,

“Essentially this is a smart contract that combines what the off-chain networks do well with what the on-chain networks do well.”

Elliotrades Crypto

This is the first time in the oracle blockchain space to have built these hybrid smart contracts, and it most likely will have a revolutionary impact in the way blockchain technology is used and also in the cryptocurrency industry in general.

In regards to the release of Chainlink’s new whitepaper, Chainlink co-founder Sergey Nazarov said,

“What we’re seeing is the start of a redefinition of what the blockchain industry is about, away from just being about Bitcoin and just being about tokens, to being about many more things.”

https://decrypt.co

Nazarov believes that blockchain is still a technology with much room for improvement and growth. He openly expresses that these hybrid smart contracts will bring a boom to the decentralized finance industry like never before.

He says,

“DeFi is a collection of hybrid smart contracts interoperating with each other, and then using oracles to allow themselves to operate properly. We’ve learned an unbelievable amount about what it takes to build a good hybrid smart contract [and] what it takes to build a good, highly reliable set of oracles into an oracle network.”

https://decrypt.co

Will Chainlink deliver on these grand promises?

It seems likely – nearly every blockchain project that needs the services of an Oracle goes to Chainlink. They’ve proven themselves to be cutting edge developers who fill a crucial and much needed outlet for other developers in the cryptocurrency industry.

Possibly the most stupendous promise which Nazarov made while discussing Chainlink 2.0 is that he believes that Chainlink 2.0 will turn decentralized finance (DeFi) into a $500 billion dollar industry.

According to Coingecko.com, the DeFi industry market cap sits right above 100 billion dollar. If what Nazarov has said comes true this will be a 5x in value of growth which is absolutely insane. Knowing the cryptocurrency market this wouldn’t be too big of a surprise.

Aaron Moses
Aaron Moses

Aaron is passionate about blockchain and has been an investor in cryptocurrencies for the past years. He enjoys engaging with other people in the cryptocurrency community online, particularly on Telegram, and learning from experts.

Tags: altcoinschainlinkCryptocurrencydefi
Previous Post

Central Banks Want Your Crypto

Next Post

Venmo Launches Crypto Trading – What You Need to Know

Related Posts

Abu Dhabi source: Savoredjourneys

Abu Dhabi Launches $1 Billion Fund to Boost Web3 Ecosystem

by Edmond Herrera
February 5, 2023
0

Venom Ventures, an Abu Dhabi-based firm, launches a $1 billion fund to propel the country's blockchain projects and solidify its...

Projects integrating both AI and crypto are perceived as the next big thing in the digital world. (Photo Source: Pexels)

Projects Mashing AI and Crypto Are The Next Big Thing

by Giancarlo Perlas
February 1, 2023
0

The AI (artificial intelligence) bandwagon is in full swing, especially in the aftermath of the widespread integration of this type...

Osmosis V14 Neon Upgrade source: Reddit

Osmosis V14 Neon Upgrade Brings Security And Efficiency Boost

by Edmond Herrera
January 26, 2023
0

Osmosis, a leading decentralized finance (DeFi) protocol, announced the release of version 14.0.0, also known as the Neon Upgrade, bringing...

Load More

Get updates to your inbox!

Subscribe to our mailing list to receive daily updates!

FOLLoW US:

Blockzeit Logo 10 1

Blockzeit was founded in 2021 in Switzerland with the mission of bridging the gap between the complex blockchain technology and the general public. Blockzeit is a news and education platform that aims to make blockchain more accessible and bring more transparency to the scene.

Popular Categories

Categories
  • Bitcoin News
  • Business
  • Education
  • Investing
  • Markets
  • Metaverse
  • NFTs
  • Politics
  • Press Release
  • Switzerland
  • Technology
  • Trends
  • Uncategorized

Important Links

  • Privacy Policy
  • Disclaimer
  • About us
  • Contact us
  • Blockchain Jobs
  • Events

Contact & Social

For guest posts, contact us via info@blockzeit.com

 

Contact: info@blockzeit.com
Press: press@blockzeit.com

Facebook Twitter Linkedin Instagram
  • Home
  • Markets
  • Investing
  • Technology
  • Trends
  • NFTs
  • Education
  • Events
© Copyright by Blockzeit.com. All rights reserved.

Disclaimer

Start making money with crypto.

Buy Here
No Result
View All Result
  • News
    • Business
    • Politics
    • Metaverse
    • NFTs
    • Markets
    • Investing
    • Technology
    • Trends
  • Tools
    • Crypto Charts
    • Crypto Heatmap
  • Education
    • Reviews
    • Guides
    • Bitcoin Price Analysis
  • Crypto Exchanges
  • DeutschDeutsch
  • PortuguêsPortuguês

© 2021 Blockzeit by Blockzeit.