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WBTC Wrapped Bitcoin Explained 👉 https://youtu.be/1Wqs278hN6M
Aave Flash Loans Explained 👉https://youtu.be/897Q_OgkfN4
Chainlink Zeus Capital FUD Explained 👉 https://youtu.be/EFRr6JjEZek
Howey Test & Ripple Lawsuit Explained 👉 https://youtu.be/Bmf2IILzEug
– TIMESTAMPS –
2:24 Chainlink Recap
4:56 Grants & Proof of Reserves
7:33 Chainlink & Flash Loans
10:00 Zeus Capital Update & SEC Risk
13:13 Chainlink = Monopoly?
15:26 LINK Token Dumping
19:33 Final Thoughts
⛓️ 🔗 Useful Links 🔗 ⛓️
► Chainlink Community Grants Application: https://chain.hyperlink/group/grants
► Chainlink TUSD Proof of Reserves: https://feeds.chain.hyperlink/
► Chainlink Flash Loan Protection: https://weblog.chain.hyperlink/flash-loans-and-the-importance-of-tamper-proof-oracles/
► Zeus Capital 100k Chainlink Bounty: https://docs.google.com/varieties/d/e/1FAIpQLScq0EgVY3PVHE5Snaj3D8CeStvZHBXsVjDKr_oNYhEizjGpng/viewform
► Chainlink Securities Rating: https://www.cryptoratingcouncil.com/asset-ratings
► API3 Anticompetitive Accusation: https://medium.com/api3/api3-x-matic-hackathon-postponed-58613c64bbd
► Trustnodes Chainlink Team Dumping Analysis: https://www.trustnodes.com/2020/08/14/chainlink-devs-dump
Chainlink goals to resolve cryptocurrency’s oracle downside. The oracle downside is twofold: cryptocurrency blockchains are unable to entry exterior information by default, and using any centralized information feeds would nullify the decentralization of the good contract.
The resolution to this downside is a decentralized information set offered by dozens of trusted entities which are given financial incentives to fetch the info being requested by a sensible contract. This is what Chainlink is.
💵Community Grants & Proof of Reserves💵
In August 2020, Chainlink introduced their Community Grants program. This initiative basically seeks to supercharge the expansion of Chainlink’s ecosystem. Chainlink has since funded 19 completely different grants associated to analysis and improvement.
In October 2020, Bitgo, the corporate which points WBTC, the most important wrapped Bitcoin token on Ethereum, partnered with Chainlink for proof of reserves. As of November 2020, BeliefToken, the corporate which points the TUSD stablecoin, can be utilizing Chainlink for proof of reserves.
⚡Chainlink & Flash Loans⚡
The reliance on centralized worth feeds by DeFi protocols is what essentially makes them inclined to flash mortgage “assaults”. Dozens of DeFi protocols have built-in Chainlink and different decentralized worth oracles to guard themselves from flash mortgage assaults over the previous couple of months.
⚖Zeus Capital Update & SEC Risk⚖
In November 2020, Zeus Capital issued a 100-thousand-dollar bounty payable to anybody who might present them with details about Chainlink’s “illicit and manipulative practices”. One week later, Zeus Capital adopted up with the declare that the LINK token will ultimately be categorised as a safety by the SEC within the United States.
Tthe Crypto Ratings Council has given Chainlink a ranking of two out of 5 by way of how carefully it meets the standards of the Howey Test. Considering the Crypto Ratings Council gave XRP a ranking of 4 out of 5, LINK must be secure from the SEC.
🕵️♂Chainlink = Monopoly?🕵️♂
API3 has accused Chainlink of monopolistic practices after it successfully barred API3 from taking part in two Ethereum hackathons by shopping for unique rights with their organizers. Chainlink has additionally partnered with the World Economic Forum to set requirements for decentralized oracles which appear to make Chainlink the de facto normal.
📉LINK Token Dumping📉
It seems as if the Chainlink crew has been promoting lots of of 1000’s of LINK each few days. An August report by Trustnodes additionally claims that the Chainlink crew is actively attempting to obfuscate (disguise) these transactions. This promoting conduct by the Chainlink crew might be why LINK misplaced momentum in mid-August and continues to lose power towards Bitcoin.
📜 Disclaimer 📜
The data contained herein is for informational functions solely. Nothing herein shall be construed to be monetary authorized or tax recommendation. The content material of this video is solely the opinions of the speaker who will not be a licensed monetary advisor or registered funding advisor. Trading cryptocurrencies poses appreciable threat of loss. The speaker doesn’t assure any explicit final result.
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