Review on Chainlink by Věra Filipová

There are not so many projects in the crypto space that are focusing on the other area how to utilize the blockchain technology and its primitives. There are not some many proects that have different primary aim than to improve blockchain itself or traditional finance. Chainlink is quite unique decentralized project that is focusing on completly different aspects of the blockchain possibilities and have clear use case. Chainlink is the crucial bridge of information flow between real (traditional) world and blockchain (crypto) world by promoting their very own oracles and data structure. They are connecting off-chain data to on-chain. You are able to verify events, facts, payments, much more and all other inputed information (it is a source of verifiable information). It is main source of data for blockchain are the web (not suprisingly) and it connetcs to it via https protocol.



The Chainlink is implemented almost in every crypto project now. It is mainly valauble for DeFi platforms as a crucial infromation source (esp. price source). Chainlink feeds the smart contracts with the off-chain data. Without Chainlink the DeFi could not work how it works now. On their way they have implemented (acquired) some new improvments and technology such as zero-knowledge proofs that helped to anonymized sensitive information (promote privacy).



Chainlink is built on Ethereum blockchain with their native ERC-20 token LINK. In my humble opinion this is the main setback for Chainlink that they do not use their own blockchain. I would expect their own chain with enhancing security and transparency in order to fulfill what tehy are trying to achieve (not to inherent security and transparency from Ethereum blockchain which has its own problems). I think it will push LINK more in light if they will embrace decentralized type of leading the project with own blockchain. On the other hand I think the value of their token LINK is for a long time undervalued and should deserve more recognition. I am investing in the LINK (and probaby other infrastructure projects) as for me I believe that it will last because of its have a clear use case. The price could go up (it is a matter of time). The native token LINK is listed on almost all major exchanges. You are able also to earn yield on your LINK tokens (the LINK is awarded to node operators and validators who verify data feeds and information) but in the future you will also be able to stake your LINK tokes. I have to say that there is so much value in the Chainlink it should not be overlooked.