ChainLink (LINK) are well aware of the strides that one will have to face in the process of adoption. They cater to asset tokenization as they well know it is one of the promising use cases on the blockchain. Literally, they contribute to the whole of human economic activity.
Sergey Nazarov recently stated, “Proof of Reserve allows DeFi protocols to have proof about the collateral they rely on. Encouraging the use of that collateral. It’s on track to secure $1Bn+ in BTC through @WrappedBTC and @renprotocol.”
Tokenization permits for liquidity of traditionally illiquid assets. Thus creating improved accessibility and ease-of-access to investment opportunities.
Tokenization also facilitates greater transparency concerning the ownership and the ownership history. Thus, providing for a reduction in administrative costs related to the trading of these assets, which includes management, issuance, and transactional intermediaries.
Eventually, tokenization permits for assets to be able to access the DeFi ecosystem thus unlocking a whole new path in asset selection and asset back up for DeFi.
Sydney Ifergan, the crypto expert opined: “ChainLink (LINK) do not venture in what they cannot. They do one thing with commitment and they do it right. They keep refining on their accuracy. No drama.”
UniLend Finance have integrated Chainlink VRF to provide verifiable trustless-ness to their sale participant selection. By using Chainlink VRF guarantees fairness and transparency that is provably fair on-chain randomness.
CryptoApis are now providing blockchain and crypto market data on-chain through their own official ChainLink Node. The DeFi developers will now be able to access a wide variety of new datasets like volume, market cap & more, w/ origin signing guarantees for added security.
StaFi_Protocol are set to use ChainLink to facilitate provide exchange rates in their new staking derivatives solution rTokens, which are synthetic tokens representing staked assets. Chainlink oracles ensure that creating, trading & redeeming rTokens is based on fair market pricing.
Darwinia Network’s cross-chain enabled game Evolution Land are set to use ChainlinkVRF to securely and efficiently mint in-game characters with randomly selected gene attributes, fairly distribute NFTs as random rewards for various in-game actions, and more.
Previously, it was stated that the Chainlink Grant Program are making $100,000+ grants possible to skilled developers who are able to successfully integrate ChainLink into new blockchains. They are now accepting proposals for the first grant, Solana, co-sponsored by Solana and ProjectSerum.
ChainLink in their latest technical blog, have to show developers on how to implement time delayed smart contract functions by making use of ChainLink alarm clock to control blockchain voting dApp. This feature is made in a way to facilitate on-chain voting like in DAO-based projects.
Developer activities and integrations are happening actively in the ChainLink Ecosystem.
A finance graduate, Maheen Hernandez has been drawn to cryptocurrencies ever since Bitcoin first emerged in 2009. Nearly a decade later, Maheen is actively working to spread awareness about cryptocurrencies as well as their impact on the traditional currencies. Appreciate the work? Send a tip to: 0x75395Ea9a42d2742E8d0C798068DeF3590C5Faa5
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