HBAR vs ChainLink | Partners or Competitors?!

there has been a lot of focus on coins like bitcoin ethereum and the like but digital assets like hbar and chain link have seen much bigger gains the past weeks cryptocurrency has surpassed the 300 billion dollar range and some speculators believe an altcoin season is again upon us link has finally broken out and h bar is not ready to stop hitting high so before we discuss further on chain link and hbar i think you know what the drill is i want you to make sure you give this video a like button click on that subscribe button and don't forget to click that notification bell that way you know when we're gonna be talking to you alright so be sure to watch this video all the way to the end though because there is a lot for you to learn all right now let's begin let's talk about chainlink the chain link project recently partnered with the swipe wallet application and card platform gemini custody also announced that it has added support for link chain link or link unlike other digital assets in the decentralized financial space was extremely different in terms of the service it wanted to provide at its inception many industry experts and crypto enthusiasts stood open mouth when link launched in 2017 indicating that it has found a way to reliably and efficiently provide accurate data to smart contracts on a smart contract-enabled blockchain chain link intends to solve crypto problems by connecting smart contract platforms to the outside world so that smart contracts can trade with existing fiat currencies and view all important data with confidence the original smartcontract.com solution was based on centralized oracles which was an obstacle to the development of decentralized financial networks the problem was solved in september 2017 with the launch of the decentralized oracle network chain link network that same month the team conducted an initial coin offering that raised more than 32 million dollars after a rocky start to 2020 due to the corona virus pandemic that affected the financial market the network's novel token link rebounded with a 530 percent increase by the end of 2020 signaling increased investor interest in the crypto asset in the trading space chain link is a blockchain platform designed to protect customers from unauthorized access when exchanging data while working with complex smart contracts the chain link solution provides advanced data protection both inside and outside the blockchain the chain link blockchain consists of special nodes called oracles the chain link oracles serve as a reliable bridge between data providers and their customers the chain link network has gained popularity because it provides reliable protection of data from unauthorized access for complex smart contracts on any blockchain the decentralized oracle solution offered by the company has enabled it to gain credibility and popularity in the decentralized financed app market since a blockchain does not have free access to information outside its system oracle acts as an information channel in a smart contract the chain link network uses oracle's as the underlying link tokens need to extract data streams outside the network all tokens are formed into a readable blockchain and an off-chain network computing system that provides a reliable secure workflow chain link is based on customers and data providers customers select specific desired data and providers release only that data as a guarantee data providers block a certain percentage of link tokens when they publish an offer for data these tokens can be confiscated if the provider misbehaves at the same time chain link uses the oracle reputation system to collect and evaluate the data offered if everything goes smoothly the providers simply receive their payment and everyone is happy looking at chain links price forecast for 2021 one can conclude that it looks similar to 2020 even the coronavirus pandemic has not stopped the growth of link in the first quarter of 2020 the price of link performed well rising from 1.80 in january to 4.90 in early march a significant pullback in the overall cryptocurrency market also led to a decline in the price of link the asset retested support at a dollar fifty on march 13th and from there buyers defended the support level pushing link to its resistance at four dollars and ninety cents on june 2nd buying pressure was so strong that resistance was breached on july 6 and the asset rose to 19.85 on august 16th reaching a new all-time high a pullback to 7.50 followed on september 23rd and a bounce from support took link to 17 and 20 cents on november 24th according to antonio foundation autono aims to democratize trading and crowdsource liquidity which will improve d5 liquidity and help traders leverage the power of the crowd it has a primary goal to allow traders and investors to navigate crypto markets with ease privacy and a path to profitability autono has an impressive ecosystem that includes decentralized exchanges the aux protocol based smart decks and market making the niox maker the partnership with chain link means whatever activity happens to the price of niox will be significantly reflected in the price of link and this will go a long way to confirming the predictions of experts regarding a bullish future of cryptocurrency as true for the largest digital asset management firm to consider forming a foundation in a name of link says a lot about the extensive research staff at the investment firm have done on the potential of the digital asset in the world of decentralized finance or d5 experts believe that link will rise in value in the foreseeable future and trade for a coin in a price range of 200 to 300 based on drivers such as safe haven status economic recovery and tighter monetary policy then traders and investors can benefit from a long-term potential this makes link an asset that any investor can consider having in their portfolio of investments based on the progress that the team at chain link has made and the popularity that crypto coin has gained the prospects for continued growth are tremendous chain links should continue to grow in the future hedera hashgraph on the other hand never ceases to be a profitable coin hbar is a technology that other organizations can use to build their own applications on essentially they use the hbar network to validate the transactions that are on the application whatever that application or use case may be in order to use the network to validate your transactions on your application you need hbar coins this is what gives the hbar coins real world value and not just people speculating on the price so the more applications we get that use the technology the more valuable the h-bar coins become because they are needed for validation h-bar coins serve as fuel for the network it cannot function without them once you understand this you should realize how insanely valuable hbar coins can become in the future because my belief is that there are thousands upon thousands of big players using this technology to build their applications there are already a lot of big companies that are adopting this technology and the growth is just beginning not only that in the future you will be able to proxy stake your hbar coins meaning that you are essentially banking lending your coins to the network when you are not using them yourself this way you will earn a percentage of the network fees that comes from using your hr coins i believe that many future h-bar wheels will do just that they will just sit on their h-bar coins and earn massive fees from the network itself they will not sell ever because the network will probably only grow and grow over time and therefore become more valuable this has the potential to eventually drive up the price of individual hbar coins because most people won't sell they'll just bank their coins to generate revenue it really is an ingenious design the whole thing i plan on being a very long-term holder myself okay well i want to thank you for watching and if you did like this video please do not hesitate to click on that like button subscribe and don't forget to click that notification bell we are here to bring you more financial and crypto updates if you have any questions or there are any things that you want me to talk about please feel free to leave a comment below and we'll reply to each and every comment alright folks well we're gonna see you in the next video

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