This is my first post here.
I decided to create this topic about some altcoins I am already investing or observing for some time, since 2017. If you have some other suggestions, they could be listed here as well. This could be a place where we could discuss those projects.
As bitcoin is the benchmark here, I will post their charts showing their BTC pairs and I will make some comments about the fundamentals.
Coinmarketcap link - https://coinmarketcap.com/currencies/chainlink/
Official website: https://chain.link/ and https://smartcontract.com/
- Chainlink is an ERC-20 token for now. It is expected to have its own blockchain sometime soon, as its testnet is already running for about 6 months.
- ICO price was 0.10 USD.
- What problem does it try to solve?
For now, smartcontracts can only interact with data from inside the blockchain. That limitation exists because of the way the blockchain and PoW/PoS are designed. The only way for smartcontracts to interact with real world data is through a middle-ware, i.e, an Oracle. There is no fully functional oracle for now, so Smartcontracts are now VERY limited.
This is why you only see Smartcontracts about ICOs and DEX. Because there is not much more things you can do with them now.
You cannot sell your house using smartcontract without an Oracle, for example.
Chainlink intends to be the first fully decentralized Oracle.
Everyone will be able to create a node. This node will be providing real world data to the Chainlink Blockchain network. There are going to be several ways to determine the reliability (I don´t know if that´s the correct word) of the node, but one of them is going to be how many LINK tokens you have stacked in your node.
While providing real world data to the network, your node will be receiving LINK tokens as rewards. You will also be able to stack those LINK tokens, improving your node and receiving more link tokens. It will be some sort of PoS system.
More information in the official website https://chain.link/features/ and the whitepaper.
Personally, I am an investor in this project since september 2017.
There is a lot of especulation that SWIFT is involved with chainlink. Some information here.
If Chainlink is successful, the whole cryptocurrency ecosystem will change. It could be the trigger to next bull run of the whole market. It will change the ecosystem forever, as smartcontracts will be able to use real world data. You may sell your house using smartcontract. You may track mail using smartcontracts.
You will be able to create an smartcontract that will only pay the seller when package arrives in your house, for example.
Chainlink team is very discrete. There is no hype. There are no pre-announcements from the team, only when things are done. Chainlink marketing is VERY poor, they do not care about that. I consider this a very important factor, as hyped coins are usually vaporware.
My next post wil be about 2 other projects I am looking at:
MANA and BAT