Ever since its inception in the year 2017, Chainlink has always been at the forefront of oracle news. The leading decentralized oracle is constantly evolving and signing up with new projects which is eventually affirming the oracle’s stand in this highly competitive market stronger than ever. As per recent reports, the oracle system has been widely integrated by as many as 29 projects in last month alone. The latest integrations scale up the total number of integrations for Chainlink to a whopping 315 projects.
Among these 315 projects integrated with Chainlink, there are 98 DeFi projects, 74 blockchains as well as 44 nodes and 23 data suppliers. Each integration has escalated the oracle’s market cap that has grown exponentially to an awe-inspiring 4275 million USD today from a meagre 101 million USD in just a couple of years. Many kudos to the Chainlink team for keeping the oracles always on top of the game despite the stiff market competition. Today, Chainlink is undoubtedly the numero uno decentralized oracle.
One of the latest integrations of Chainlink is Agoric- an emerging decentralized portal for development of smart contracts with the help of JavaScript. The integration with Chainlink last month would now enable the platform to develop many new products faster and that too without the need of building customized data feeds. This way, developers would have a better opportunity to pull together the DeFi apps more effectively. Other prominent platforms that have integrated with Chainlink lately are Synthetix (synthetic asset market) and Kyber Network (token exchange portal). Both of these are DeFi projects.
Although Chainlink had mostly worked with Ethereum-based projects previously yet the decentralized oracle provider has gradually started working on projects beyond the ETH realm of late. In that light, the Tezos and Polkadot integrations do deserve special mention. Not only that, Chainlink has recently formed partnerships with a list of iconic names such as Google, Oracle and Swift.
Bridge Oracle offers close competition
Blockchain oracles are commanding a shooting demand today and Chainlink is not alone in the game. The recently launched Bridge Oracle too shows huge promise of late. Bridge oracle is a decentralized oracle and was introduced on TRON in the second quarter of this year to cater to smart contracts on TRON. It’s to note here, Bridge oracle is TRON’s first ever dedicated public oracle system and is poised to encourage mass participation on TRON platform.
“Being a public oracle, Bridge oracle will enable many small organizations to implement their businesses on TRON that would eventually shoot up the memberbase and overall growth of the TRON ecosystem. In fact, Bridge oracle is the first one to escalate smart contracts on TRON from mere tools of tokenization to a functional contributor to real-world use cases”, stated the CEO of Bridge oracle.
Akin to Chainlink, Bridge oracle is also a decentralized oracle and hence assures tamper-proof authentic off-chain data only for the smart contracts on blockchain and DeFi apps operating on smart contracts. The oracle system sources real-world data from various public data sources like Complex URL, URL, WolframAlpha, Random and so on. The oracle also allows to add different kinds of proofs to ensure credibility of data injected into the smart contracts. BRG is the native token of Bridge oracle.
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