LINK is currently holding support and looks poised to breakout of ascending wedge pattern which if it does, it will head to $15 then $16.55. LINK tends to move with a Beta factor higher than ETH and most major alts relative to BTC.
LINK has several fundamental factors supporting its bullish technicals. One is that it has over 300 partners who have integrated the LINK protocol. Much like how Microsoft Office was able to entrench itself as the only technology that the overwhelming majority of people use on their computers, LINK is becoming indispensable in the blockchain community.
Another bullish sticking point is that LINK has had about a 2 year head start among the competition and has acquired a top notch Data Security platform DECO including a major intellectual asset, an MIT professor, Ari Juels, former Chief Scientist of RSA - one of the world's largest security companies.
The problem DECO is attempting to solve for not only DeFi but broader Corporate applications:
Nazarov (CEO of ChainLink) has previously explained some of the fundamental challenges of bridging between information sourced from real physical world and delivering it to a smart contract in such a way that the data can be proven to have come from the source that it pertains to have originated from and has not been tampered along the way. It turns out that it’s not a trivial thing to do.
ChainLink, now powered with DECO and top computer engineer, Ari Juels, are attempting to solve this issue that has wide applications beyond crypto.
Take healthcare for example; in researching a new drug, it is often necessary to pool information from a large body of patients to analyze how a group responded to treatment. However, this has inherent challenges — patients either have to provide their consent (easy if there are 10, less so when there are 10,000), or the companies that are the guardians for that data must cleanse the information themselves which is expensive, time consuming and can remove some of the value of the resulting analysis.
But what if all that sensitive data in its raw form could be sent to a smart contract that can be proven mathematically will not share the data, but is still able to analyze it and report back its analysis?
Ultimately, smart contracts have the potential of unlocking a variety of these types of privacy use cases which are simply not possible to do with traditional technology today but only with oracle technology that provide the right level of safeguards.
Risks - just like TESLA or MSFT, there are competitors in the space but it's becoming abundantly clear that LINK's tech / devs / protocol are superior to the competition (which is healthy anyways). LINK has the most superior reputation among all the competitors as well.
LINK has several fundamental factors supporting its bullish technicals. One is that it has over 300 partners who have integrated the LINK protocol. Much like how Microsoft Office was able to entrench itself as the only technology that the overwhelming majority of people use on their computers, LINK is becoming indispensable in the blockchain community.
Another bullish sticking point is that LINK has had about a 2 year head start among the competition and has acquired a top notch Data Security platform DECO including a major intellectual asset, an MIT professor, Ari Juels, former Chief Scientist of RSA - one of the world's largest security companies.
The problem DECO is attempting to solve for not only DeFi but broader Corporate applications:
Nazarov (CEO of ChainLink) has previously explained some of the fundamental challenges of bridging between information sourced from real physical world and delivering it to a smart contract in such a way that the data can be proven to have come from the source that it pertains to have originated from and has not been tampered along the way. It turns out that it’s not a trivial thing to do.
ChainLink, now powered with DECO and top computer engineer, Ari Juels, are attempting to solve this issue that has wide applications beyond crypto.
Take healthcare for example; in researching a new drug, it is often necessary to pool information from a large body of patients to analyze how a group responded to treatment. However, this has inherent challenges — patients either have to provide their consent (easy if there are 10, less so when there are 10,000), or the companies that are the guardians for that data must cleanse the information themselves which is expensive, time consuming and can remove some of the value of the resulting analysis.
But what if all that sensitive data in its raw form could be sent to a smart contract that can be proven mathematically will not share the data, but is still able to analyze it and report back its analysis?
Ultimately, smart contracts have the potential of unlocking a variety of these types of privacy use cases which are simply not possible to do with traditional technology today but only with oracle technology that provide the right level of safeguards.
Risks - just like TESLA or MSFT, there are competitors in the space but it's becoming abundantly clear that LINK's tech / devs / protocol are superior to the competition (which is healthy anyways). LINK has the most superior reputation among all the competitors as well.
