In this episode of Around the Blockchain, the panel discusses Chainlink’s recent market performance, upcoming staking upgrade, and the role of oracles in the crypto industry. One panelist expresses doubts about the necessity of oracles, citing the ability of some blockchains to connect to the internet without them, while another panelist highlights Chainlink’s importance in providing off-chain data for blockchain applications. The panel also touches on the recent Blockchain Influencer Awards and upcoming changes to the show’s channel.
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Welcome to Around the Blockchain
Today on Around the Blockchain, our topics of discussion are Chain link, Crypto Oracle Golden Era, and Twitter 2.0. We had some musical chairs with our guests but have finally figured it out. Our guests for today’s discussion are Contrarian, Taco, and Crypto is Good.
Chain Link – The Oracle Solution Everyone Needs
Chain link is the Oracle solution that everyone pulls data from. If you don’t know what an Oracle is, it’s everything on the back end of the blockchain, presenting to you on the front end, in a nice and easy-to-read manner. It’s essentially about pulling off-chain data, linking off-chain data, and showing that data on-chain.
Chain link is a Powerhouse in the entire crypto industry, and it is widely recognised to be the go-to Oracle solution. Everything is set to upgrade for Chain link with the release of Chain link 2.0 staking on December 6th. Taco says it’s a good bet, while Crypto is Good says it isn’t necessary. If all the other modern blockchains can reach out to the internet without Oracle, then why should Chain link be used?
The Crypto Oracle Golden Era
The Crypto Oracle Golden Era is upon us, as every single blockchain needs Oracle solutions. Even if we’re pushing for decentralisation, we need Oracles to provide data, which is not possible without the external world being a part of it. Chain link has gone up approximately 15.8% and in the top 20 market cap coins.
Of course, with a dash of reality, the cryptocurrency has never been able to reclaim its all-time high, and this is worrisome. Crypto is Good is worried about the next run-up and claims that we should rely on technology without the Oracle clunkiness.
Twitter 2.0
Finally, we discuss Twitter 2.0. Contrarian thinks there are some cool things in the pipeline, while Crypto is Good is sceptical of the changes. The main difference is the proof of stake model, which Contrarian claims is a better model for today’s times.
Conclusion
The Blockchain Influencer Awards took place recently, and it was amazing to see. The discussion highlights the importance of Oracles, and the need to move with the times. Despite different opinions, everyone agrees with Chain link being the go-to solution in the cryptosphere.
