Chainlink (LINK) Promises Accuracy as it Becomes the World's 12th Largest Market Capitalization

Slowly, then all at once.

Sergey Nazarov, founder of Chainlink (CRYPTO: LINK), the world’s 12th largest market capitalization and $11.2 billion (about 16 trillion won), stressed in a interview with Maeil Business Newspaper on the 12th that the development of the virtual asset ecosystem has passed “slowly” and is entering the “at a moment.”

This expression is said by the main character confessing his love in the highly popular novel “The Fault Is in Our Stars” in the United States.

Just as falling in love, the development of the blockchain industry was slowly building its foundation, and now it is time for everyone to fall in love in a moment.

On March 7 (local time), Nazarov attended the “Virtual Asset Summit” at the White House on behalf of Chainlink. Chainlink is the only two virtual asset projects invited by the White House along with Ripple (XRP).

Chainlink is a project that seeks accuracy for real-world data registered on the blockchain.

Blockchain is a network created to generate trust without trusting anyone.

Although there is completeness in the blockchain, vulnerabilities arise when institutions outside the blockchain are entered inside.

For example, suppose that data called Seoul Weather was posted on the blockchain today.

Blockchain is not a system in which someone centralized enters data unilaterally. Anyone can register data. For this reason, there is a high possibility that the data is a lie.

Chainlink overcomes these limitations of blockchain and focuses on entering accurate data. It is a way to make them reach an agreement over several decentralized verifiers who check data values in the real world.

“Chainlink is a kind of Truth Machine,” Nazarov said. “It requires a network of chainlinks in all situations where truth is needed, such as payment and identification.”

Chainlink is the most notable project in the trend of virtual asset institutionalization.

In order to be combined with finance, the balance in the actual bank, the identity of a specific person, and real estate ownership information must be reliable.

This is because the importance of the infrastructure that Chainlink has been building for years has emerged.

“In the past, I was mainly asked by financial institutions to explain why I should trust the blockchain,” Nazarov said. “Recently, we have to participate in tokenizing assets, but we are asked what to do.”

In fact, the virtual asset market has recently been rapidly combining with institutional finance led by the U.S. since U.S. President Donald Trump took office.

Leading financial institutions are entering the market, led by BlackRock (NYSE:BLK), the world’s largest asset manager.

After the launch of the Bitcoin Spot Exchange Traded Fund (ETF), $41.1 billion (about 58 trillion won) was net inflow.

Trump is encouraging stablecoins with one coin issued as collateral for $1 to solve the U.S. government bond issue and strengthen dollar hegemony.

“The U.S. is very interested in blockchain to maintain its leadership in the global financial system,” Nazarov said. “We know that the next version of the global financial system is in a blockchain form.”

He also said, “From the perspective of U.S. politics, many Americans already have virtual assets, so it is enough to affect the election.”

“As the blockchain of finance and the phenomenon of more voters holding virtual assets accelerates, the interest in the U.S. will inevitably increase.”

Chainlink is a project that debuted in 2017. It has been working on development for a long time.

In the process, many investors have also been reprimanded for failing to create practical usefulness.

Nazarov emphasized, “In advanced countries, the focus has been on speculation through virtual assets, so we have not seen the usefulness of blockchain, but in emerging markets, we have created financial services that can store large values at a certain level or higher, starting with Bitcoin.”

“As tokenized gold, fiat currencies, stocks, commodities, and securities are expected to grow from $10 trillion to $20 trillion, the time of ‘at a moment’ has come even in developed countries,” he continued.

Expectations for the virtual asset market are also growing once again.

Bitcoin crossed the $105,000 mark on expectations that trade negotiations between the U.S. and China are progressing.

According to CoinMarketCap, Bitcoin was once traded at $105,303.93 earlier in the day.

It is the first time since January 31 that Bitcoin has crossed the $105,000 mark.

Ethereum (CRYPTO: ETH) also jumped 40.31% over the past seven days, the highest gain since the virtual asset boom during COVID-19.

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