2020 was a golden year for chainlink. To support it is Sergey Nazareth, co-founder of the startup and CEO of SmartContract. An opinion motivated by the fact that LINK, the token of the decentralized Oracle provider Chainlink, not only strengthened from a financial point of view, but also guaranteed billions of dollars in terms of DeFi. While his network was able to withstand unexpected and very dangerous external events.
The recognition of the World Economic Forum
As a further demonstration of the growth achieved, Chainlink was appointed by World Economic Forum among the ten most promising technology pioneers of 2020. A recognition of no small importance, considering how within the same list there are Bitcoin lightning ed Elliptic. And also confirmed by the market, with the installation of LINK in the top ten (currently it is in ninth place in the ranking prepared by CoinMarketCap). While over 300 projects have worked their integration with the company, seeing it as an excellent tool to secure their work.
The acquisition of DECO from Cornell University
In anticipation of a new year still full of satisfactions, chainlink then proceeded toacquisition of DECO, from Cornell University. That is a system developed by Dr. Ari juels, former Chief Scientist of RSA, one of the largest security companies in the world, the same who had launched the Proof-of-Work.
It is basically a verification protocol for oracles. In fact, it can prove the authenticity of the data, while ensuring privacy. This means that a transaction will be able to meet KYC (Know-Your-Customer) or Anti-Money Laundering (AML) requirements, without having to expose any sensitive information on the chain. Precisely for this reason it could attract great interest even outside of space blockchain.
Nazarov himself then added that the goal to work on is to to grow the token within the NFT (Non Fungible Token) games and the insurance sector. In addition to continuing the diversification that has seen Chainlink expand its field of application, with Polkadot and Tezos side by side with Ethereum. In fact, the integration with other chains is in the final phase, which will mix with a further extension of the range of action of Chailink. That is the one linked to collaboration with IT consulting companies, with an ever-growing interest on their part. To further demonstrate the work carried out during the year.
Collaboration with Associated Press
Finally, the collaboration launched with the press agency should also be mentioned Associated Press, considered one of the most prestigious globally. Which has decided to integrate Chainlink in order to publish the results of the US elections in a cryptographic way on the blockchain. The same agency is now managing a Chainlink node and Nazarov himself expects the start of similar collaborations for the new year.
A conviction, moreover, expressed in a recent document which states the growing interest on the part of non-blockchain entities, traditional financial institutions and government IT initiatives towards oracles. Thanks to which could receive blockchain enablement for the processing of a long series of data which require additional security. Considering what has happened during the recent US presidential elections, it does not seem risky to predict that his wish is destined to come true.