Bitcoin Forum
May 01, 2024, 06:45:07 AM *
News: Latest Bitcoin Core release: 27.0 [Torrent]
 
   Home   Help Search Login Register More  
Pages: [1]
  Print  
Author Topic: Which project will become a worthy competitor of Chainlink?  (Read 45 times)
Vincom (OP)
Member
**
Offline Offline

Activity: 84
Merit: 32

₿itcoin maximalist


View Profile
March 31, 2024, 01:37:55 AM
 #1

Chainlink stands out in the crypto market as a leader in oracle technology, a critical piece for DeFi and RWA integration. Notably, Chainlink's development thrived during the crypto winter. While many projects slowed down, Chainlink used this time to build partnerships and valuable solutions for the market. This focus on development has positioned Chainlink as a top contender, with some investors even considering it the third most valuable project after Bitcoin and Ethereum.

Chainlink's developer community is among the most active in the blockchain space, averaging an impressive 451.23 GitHub events over the past month. This intense development activity, encompassing code updates, issue raising, and improvement suggestions, is a positive sign for Chainlink future. It suggests Chainlink's unwavering commitment to long-term growth [1].

In addition to oracle solutions, Chainlink's CCIP is a new development that has the potential to shake up the cross-chain landscape [2]. While I don't really understand the potential of CCIP and its full capabilities are still emerging, it presents itself as a possible competitor to existing solutions like Cosmos' Hub and Polkadot's Parachains.

While Chainlink dominated the oracle scene last season, I'm eyeing potential challengers this year. While Band, DIA, and API3 exist, their customer base pales in comparison to Chainlink [3]. Tellor's recent price surge garnered attention, but it lacked real value. However, Pyth, a newcomer with a strong customer base and efficient services [4], has piqued my interest. Similarly, in the cross-chain space, I'm looking forward to projects like Cosmos, Polkadot, LayerZero, and ZetaChain potentially competing with Chainlink [5].

Healthy competition drives innovation across an entire field. This ensures users and the market benefit from the best, safest, most effective, and most affordable solutions. While I strongly support Chainlink, I believe continuous competition is crucial for its ongoing development and to prevent monopolies from stifling progress in the blockchain space.

I want to know your opinion about Chainlink:
  • Will Chainlink continue to be a giant in the crypto market during this uptrend?
  • Which project can compete with Chainlink in the oracle field?
  • Which project can compete with Chainlink in the cross-chain field?

References:
[1] Chainlink Dominates Crypto Landscape with Unparalleled Development Activity
[2] Cross-chain by Chainlink
[3] Decentralized Oracles
[4] Pyth: Smarter Data for Smarter Contracts
[5] Research: Cross-Chain Interoperability

“If you don't believe me or don't get it, I don't have time to try to convince you, sorry.”
Satoshi Nakamoto
If you see garbage posts (off-topic, trolling, spam, no point, etc.), use the "report to moderator" links. All reports are investigated, though you will rarely be contacted about your reports.
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction.
1714545907
Hero Member
*
Offline Offline

Posts: 1714545907

View Profile Personal Message (Offline)

Ignore
1714545907
Reply with quote  #2

1714545907
Report to moderator
1714545907
Hero Member
*
Offline Offline

Posts: 1714545907

View Profile Personal Message (Offline)

Ignore
1714545907
Reply with quote  #2

1714545907
Report to moderator
1714545907
Hero Member
*
Offline Offline

Posts: 1714545907

View Profile Personal Message (Offline)

Ignore
1714545907
Reply with quote  #2

1714545907
Report to moderator
Bureau
Sr. Member
****
Offline Offline

Activity: 406
Merit: 262


Eloncoin.org - Mars, here we come!


View Profile
March 31, 2024, 02:40:26 AM
 #2

Chainlink is a good utility crypto project but the current market narrative no longer focused on utility. It has moved to shitcoins and these coins are gaining much popularity than crypto projects like Chainlink. I am not expecting anything from every utility projects in the present times.

Projects like Cosmos, polkadot and zeta chain are it's competitors and all of them have not done much as in development than chainlink. I think it will remain the leader in the leader in the niche that it's working.

btc78
Full Member
***
Offline Offline

Activity: 2478
Merit: 212


Eloncoin.org - Mars, here we come!


View Profile
March 31, 2024, 04:53:42 AM
 #3

So far it has made its place as one of the top cryptocurrencies when it comes to oracle.

Not a lot of people talk about this coin but it is doing well and it still has the potential to do extremely good in the future especially with the upcoming bull run. In terms of what could be a possible competitor, I would say dot has its advantages that we need to watch closely.

God bless u
Full Member
***
Offline Offline

Activity: 308
Merit: 109


Eloncoin.org - Mars, here we come!


View Profile
March 31, 2024, 07:42:23 AM
 #4

There are high chances that chainlink coin might continue its uptrend as we can see that from the previous year it has started off from 7$ and now it's 19$ and some cents. The thing to look at is that its uptrend is never dipped much and it is continuing to rise.

Another point to note here is that the price predictors say that it'll stay right at the price or it'll only pump up to 1$ or 2$. But some hope for its good performance like the previous year. Nobody is thinking that it'll not perform so that's a positive point. We should invest in it as it's not that much risky and hope for the best.

God bless u
Full Member
***
Offline Offline

Activity: 308
Merit: 109


Eloncoin.org - Mars, here we come!


View Profile
March 31, 2024, 09:47:15 AM
 #5

There are high chances that this coin might continue its uptrend as we can see that from the previous year it has started off from 7$ and now it's 19$ and some cents. The thing to look at is that its uptrend is never dipped much and it is continuing to rise.

Another point to note here is that the price predictors say that it'll stay right at the price or it'll only pump up to 1$ or 2$. But some hope for its good performance like the previous year. Nobody is thinking that it'll not perform so that's a positive point. We should invest in it as it's not that much risky and hope for the best.

Vincom (OP)
Member
**
Offline Offline

Activity: 84
Merit: 32

₿itcoin maximalist


View Profile
April 01, 2024, 12:10:30 AM
 #6

Chainlink is a good utility crypto project but the current market narrative no longer focused on utility. It has moved to shitcoins and these coins are gaining much popularity than crypto projects like Chainlink. I am not expecting anything from every utility projects in the present times.

Projects like Cosmos, polkadot and zeta chain are it's competitors and all of them have not done much as in development than chainlink. I think it will remain the leader in the leader in the niche that it's working.
Memecoins are just a market trend, they are not the be-all and end-all. I believe that oracle and cross-chain trends will still exist and come back in the uptrend. The development of DeFi and RWA will create a huge demand for oracles, and we will see Chainlink, Pyth, Tellor, Band, DIA... mentioned.

Cosmos and Polkadot had great successes in the 2021 uptrend, I think they can compete with Chainlink's CCIP which is being tested. I like competition, I don't want Chainlink to lead any trend for too long.

“If you don't believe me or don't get it, I don't have time to try to convince you, sorry.”
Satoshi Nakamoto
Pages: [1]
  Print  
 
Jump to:  

Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!