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First Mover: Chainlink’s Soaring Token Shows Lucrative ‘Oracle’ Role in Fast-Growing DeFi

www.coindesk.com

But now Chainlink’s early lead as the dominant DeFi oracle is starting to attract competitors, and cryptocurrency investors are wondering if the niche industry might be due for a shakeup. Under Chainlink’s protocol, data is aggregated from third parties and then batched into oracle feeds that are streamed out to DeFi systems.

“If you don’t have data on-chain, you can’t build a contract for a certain market,” Sergey Nazarov, co-founder of Chainlink, told First Mover in a phone interview. DeFi projects including 0x, Gnosis and Kyber Network are using MakerDAO’s oracle feeds as well as contributing to them as third-party data sources, according to Kunkel.

Read in Full: www.coindesk.com
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Timeline of 0x, Chainlink, Gnosis-gno, Kyber-network

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