Monday, June 5, 2023
Crypto News
Advertisement
  • Home
  • Cryptocurrency
  • Bitcoin
  • Altcoin
  • Cardano
  • Ethereum
  • Blockchain
  • Ripple
  • Videos
No Result
View All Result
  • Home
  • Cryptocurrency
  • Bitcoin
  • Altcoin
  • Cardano
  • Ethereum
  • Blockchain
  • Ripple
  • Videos
No Result
View All Result
Crypto News
No Result
View All Result
Home Cryptocurrency

Robinhood Just Added This Cryptocurrency. Is it a Buy?

by Crypto News
July 2, 2022
in Cryptocurrency
0
Robinhood Just Added This Cryptocurrency. Is it a Buy?
189
SHARES
1.5k
VIEWS
Share on FacebookShare on Twitter


On Tuesday, standard buying and selling app Robinhood added Chainlink (LINK 2.33%) to the rising variety of cryptocurrencies on the platform. The corporate final expanded its crypto listings in April, when it added assist for Compound, Polygon, Solana, and Shiba Inu. The transfer falls consistent with current feedback from co-founder and CEO Vlad Tenev, who stated Robinhood goals to turn out to be the “most trusted and easiest-to-use crypto platform.”

Following the information, Chainlink’s value popped as a lot as 8%, although it has nonetheless misplaced 88% of its worth since peaking in Might 2021. Is it time to purchase?

Let’s dive in.

What’s Chainlink?

Smart contracts are self-executing laptop packages constructed on a blockchain. They outline and implement the principles of decentralized finance (DeFi) providers, thereby eliminating the necessity for intermediaries like banks. Sadly, good contracts have restricted utility as a result of blockchains can’t work together with real-world programs.

As an illustration, a sensible contract may theoretically facilitate sports activities betting by mechanically transferring cash to the profitable gambler’s account. However how would the good contract know which staff had gained the sport? The reply is Chainlink, a decentralized community of oracles. That time period may sound prefer it got here from the The Matrix, however the phrase “oracle” merely refers to a system that may transfer exterior information onto a blockchain, or a system that may transfer blockchain information to an exterior system.

Chainlink is powered by the LINK coin. To make sure honesty, node operators (i.e., the folks working the Chainlink {hardware} and software program) should stake LINK to be able to take part, and they’re paid in LINK for finishing jobs. Particularly, when a sensible contract requests real-world information, node operators bid on the job, and the Chainlink protocol selects a number of oracles to fetch the knowledge. By reconciling information from a number of oracles, Chainlink can guarantee an correct outcome with out compromising the decentralized nature of the blockchain.

A important a part of the crypto economic system

Chainlink can feed crypto pricing information to lending protocols, making it doable to worth every borrower’s debt and collateral in order that liquidations could be initiated when vital. Extra broadly, Chainlink oracles can present pricing information for any real-world asset — from commodities to shares — permitting derivatives of these belongings to be transacted on a blockchain.

Equally, Chainlink can enhance bond market effectivity by aggregating rate of interest information from banks and debt scores from Normal & Poor’s. Oracles can then relay that data to the SWIFT community to set off curiosity funds.

Lastly, Chainlink has developed a verifiable randomness perform (VRF), which may produce random numbers in a safe and reliable method. Builders can use Chainlink’s VRF to inject random outcomes into gaming and playing purposes.

Chainlink is value shopping for

Chainlink is the most well-liked decentralized oracle community by a large margin. It options way more integrations than any rival, and Chainlink at present secures over $15 billion in DeFi investments, greater than each different oracle community mixed.

That makes the funding thesis crystal clear: As good contract expertise continues to evolve, demand for Chainlink oracles ought to enhance. In flip, as a result of Chainlink oracles are paid in LINK, demand for the cryptocurrency ought to rise as effectively, pushing its value increased.

As a caveat, with Chainlink now stay on Robinhood, the cryptocurrency is accessible to extra buyers. Which will translate into short-term value appreciation, however that occasion alone is just not a very good funding thesis. In the event you do buy this cryptocurrency, achieve this understanding it could possibly be a bumpy journey.





Source link

Related articles

12 Best Cryptocurrency Exchanges in the US

12 Best Cryptocurrency Exchanges in the US

November 28, 2022
Using Risk/Reward Ratios in Cryptocurrency Trading I India CSR

Using Risk/Reward Ratios in Cryptocurrency Trading I India CSR

November 28, 2022
Share76Tweet47

Related Posts

12 Best Cryptocurrency Exchanges in the US

12 Best Cryptocurrency Exchanges in the US

by Crypto News
November 28, 2022
0

On this piece, we are going to check out the 12 finest cryptocurrency exchanges within the U.S. For extra...

Using Risk/Reward Ratios in Cryptocurrency Trading I India CSR

Using Risk/Reward Ratios in Cryptocurrency Trading I India CSR

by Crypto News
November 28, 2022
0

Within the crypto buying and selling area, a threat/reward ratio of 1:3 is nice for a selected buying and...

Cryptocurrency relates geopolitical bipolarity, seeking regulatory transparency

Cryptocurrency relates geopolitical bipolarity, seeking regulatory transparency

by Crypto News
November 28, 2022
0

The most important cryptocurrency change on the planet, Binance, withdrew its serving to hand for FTX's liquidity disaster earlier...

Caution Urged: State issues cryptocurrency advisory to investors | News

Caution Urged: State issues cryptocurrency advisory to investors | News

by Crypto News
November 28, 2022
0

Lincoln County residents and people throughout the state in search of funding alternatives are being cautioned about the place...

PNP warns public vs fake cryptocurrency investments

PNP warns public vs fake cryptocurrency investments

by Crypto News
November 27, 2022
0

Ralph Edwin Villanueva - The Philippine StarNovember 28, 2022 | 12:00am MANILA, Philippines — The Philippine Nationwide Police -...

Load More
  • Trending
  • Comments
  • Latest
6 Altcoins to Buy As Crypto Bull Market Gets Crazier: Banking Veteran

6 Altcoins to Buy As Crypto Bull Market Gets Crazier: Banking Veteran

November 7, 2021
Tesla To Accept Shiba Inu Coin and will hit $0.1 in 2021!!

Tesla To Accept Shiba Inu Coin and will hit $0.1 in 2021!!

November 1, 2021
Bitcoin Mining Noise Drives Neighbors Nuts—a Giant Dentist Drill That Won’t Stop

Bitcoin Mining Noise Drives Neighbors Nuts—a Giant Dentist Drill That Won’t Stop

November 12, 2021
Pro-Crypto Candidates Seek an Easier Way to Accept Bitcoin, Altcoins

Pro-Crypto Candidates Seek an Easier Way to Accept Bitcoin, Altcoins

October 22, 2021
5 Hotels Accepting Cryptocurrency as a Payment Method

5 Hotels Accepting Cryptocurrency as a Payment Method

0
Top cryptocurrency prices today: Bitcoin, Dogecoin, Ethereum gain up to 5%

Top cryptocurrency prices today: Bitcoin, Dogecoin, Ethereum gain up to 5%

0
Four Emerging Altcoins Soar 101% or More Within Seven Days As Crypto Markets Ignite

Four Emerging Altcoins Soar 101% or More Within Seven Days As Crypto Markets Ignite

0
ADA Price Prediction: Cardano Sits and Waits

ADA Price Prediction: Cardano Sits and Waits

0
BITCOIN TRADING LIVE – TECHNICAL ANALYSIS OF ALTCOIN CHARTS – WHAT IS COMING NEXT FOR BITCOINS PRICE

BITCOIN TRADING LIVE – TECHNICAL ANALYSIS OF ALTCOIN CHARTS – WHAT IS COMING NEXT FOR BITCOINS PRICE

February 16, 2023
Large Bitcoin BREAKOUT Coming SOON? TOTAL Market Cap Rallies Past New HIGH!

Large Bitcoin BREAKOUT Coming SOON? TOTAL Market Cap Rallies Past New HIGH!

February 16, 2023
Cryptocurrency Public & Private Keys

Cryptocurrency Public & Private Keys

February 16, 2023
CARDANO FOUNDER REVERSES ON COIN BURN

CARDANO FOUNDER REVERSES ON COIN BURN

February 16, 2023

Recent News

BITCOIN TRADING LIVE – TECHNICAL ANALYSIS OF ALTCOIN CHARTS – WHAT IS COMING NEXT FOR BITCOINS PRICE

BITCOIN TRADING LIVE – TECHNICAL ANALYSIS OF ALTCOIN CHARTS – WHAT IS COMING NEXT FOR BITCOINS PRICE

February 16, 2023
Large Bitcoin BREAKOUT Coming SOON? TOTAL Market Cap Rallies Past New HIGH!

Large Bitcoin BREAKOUT Coming SOON? TOTAL Market Cap Rallies Past New HIGH!

February 16, 2023

Categories

  • Altcoin
  • Bitcoin
  • Blockchain
  • Cardano
  • Cryptocurrency
  • Ethereum
  • Ripple
  • Videos

Bitcoin Currency Converter

Cryptocurrency Prices by Coinlib
  • Privacy & Policy
  • About Us
  • Contact Us

© 2021 Copyright Crypto News

No Result
View All Result
  • Home
  • Cryptocurrency
  • Bitcoin
  • Altcoin
  • Cardano
  • Ethereum
  • Blockchain
  • Ripple
  • Videos

© 2021 Copyright Crypto News