The bitcoin price is up 234 percent since January, even despite Wednesday’s drop. But while mainstream media scramble to explain bitcoin’s rise, one cryptocurrency has quietly outperformed every digital asset in the top 25. LINK, the native token of Chainlink, has soared 737 percent year-to-date.
Although LINK’s rise is parabolic, it doesn’t appear to be a crypto pump-and-dump. There are real fundamentals behind the price. In 2019 alone, Chainlink inked deals with Google and Oracle, launched its mainnet on Ethereum, and secured a listing on Coinbase.
What is Chainlink? Up 737% year-to-date
Chainlink has emerged as a key player in the word of smart contracts. While Ethereum popularized the technology, it’s very difficult for smart contracts to interact with other blockchains and real-world systems.
Chainlink fills the gap, making it possible for smart contracts to communicate with existing bank software, data feeds, and APIs. As founder Sergey Nazarov explained to Decrypt:
“Essentially, our goal is make good blockchain middleware. It’s not the sexiest way to put it, but what we’re doing is connecting systems that need to be connected for value to exist.”
Chainlink partnership with Google and Oracle
Google’s cloud team have already tapped Chainlink to improve its blockchain projects. Google’s BigQuery plans to use Chainlink as the middleman between its cloud database and Ethereum. In a Google cloud blog post, they explained: