We strongly believe that Chainlink is working towards solving one of the biggest problems within the blockchain space and that is inoperability from blockchain to blockchain.
1). Currently it is impossible for us to send bitcoin to an ethereum address and vice versa. This is a considerable problem which has forever plagued the blockchain ecosystem. Chainlink is aiming to solve that problem. Chainlink is an oracle blockchain, which is essentially the “middle man” between all blockchains, simply connecting them. Thanks to Chainlink, we can already send data from blockchain to blockchain.
If Chainlink succeed in their long term goal, it will run the entire infrastructure within the cryptocurrency ecosystem. If this does happen, it’s value will fundamentally rise and has the potential to rival those top 3 of Bitcoin, Ethereum and XRP.
2). Chainlink will also allow blockchain’s to access offline data.
A huge step forward for blockchain’s which have been incapable of doing so forever. Thanks to this, development can improve and data can always be accessed.
3). Chainlink’s partnership with SWIFT!
The biggest development is this partnership. Swift is the connecting fibre between most of the banks around the globe. Money sent across borders through your bank will involve Swift’s banking structure. So a partnership here, shows confidence in the Chainlink network in an exceptionally significant way. They are developing a smart oracle together!
4). Chainlink is an official cloud partner with Google!
Google has minimal interaction with blockchains, so to be singled out as worthy of a partnership with Google, is a strong positive about its future. This collaboration will result in Google placing all its query data on a blockchain using the Chainlink smart oracle. A huge statement of intent for it’s future!
5). Chainlink has been incentivized for long term holding, with rewards issued if you are running a node to help the system continue running.
Some points there are bigger than others, but these are significant moves in the right direction for Chainlink and bode well for it’s future. Given Chainlink’s enormous steps forward, the Chainlink price prediction for 2020 is optimistics to say the least. If they can deliver on what they are promising, they could very well be the architecture around which all blockchains interact and with that, the sky is the limit. Or more accurately, the MOON!
Based on the incredible work being done, it is fair to believe that Chainlink can break into the top 5 cryptocurrencies, which would put our Chainlink price prediction for the current market, in the $11 range. If the markets improve as many believe they might, than the price could rise far beyond that.
Thanks for reading,
Take care and stay safe.