is a decentralized oracle that is garnering significant attention from large investors in the blockchain finance space. Its value proposition is a contributing factor to this interest. However, it remains to be seen whether or not the actions of these"whales" alone will drive the price of LINK.
Chainlink utilizes a decentralized network of oracle providers to ensure that the data is accurate and reliable. The platform also incorporates security measures to protect against fraud and manipulation. Although initially launched on the Ethereum network, Chainlink is designed to be compatible with any blockchain. As a result, it has been implemented on other high-performing networks such as BNB Chain, Solana and Polygon .
Since LINK is used for payment of Chainlink's decentralized oracles, if it does not have an on-chain activity, it may be an example of low demand for the services of the decentralized finance network.
Source: News Formal (newsformal.com)
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