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hey guys this is victor here and this is a very short one the karano summit is currently ongoing this today is day two of the summit and yesterday they made certain announcements that i think are very important and should impact some of my plans regarding investing in the cardano ecosystem um so regarding day one announcements one of the things that the uh one of the announcements that we made yesterday was partnerships with the dish network as well as chain link now regarding dish network they will be providing digital identity services to the customers of dish which i think is also interesting because that is something cardano has been big on if you look at the partnerships with the african government its just some level of digital identity provision um standardized decentralized identity provision within that system and i think that is some leverage in terms of uh providing serious utility for the katana token and but the one i really want to talk about is the partnership with chain link which got a lot of people like shocked and surprised and people are acting um like it just came out of the blues but actually if you went back to this report from the coin telegraph on august 28 2020 new cardano based project is handling oracles a lot differently than chain link and he asked the question would cardano rely on his oracles or integrate with chain links now here did he talk about how cardano was in partnerships with ergo to provide services for the cardano blockchain prior to smart contract capability and that was where a goal came into play but they were also asking here it says riemann started speculating when cardano founder charles oscarson tweeted about talking to chainlinks co-founder sergei nazarov some were expecting an announcement to be made soon about cardano integrating chain links oracles however those four additional ones have not materialized likely karano is in no hurry as there is little use for oracles before the gorgon era at the same it allows it time to test oligo infrastructure developed in-house so this has been in the works for over a year now and so its not news to the cardano team its probably something that they have known for a very long time an open secret obviously as it has been um reported by by coin telegraph but people felt that it was mind-blowing nudes when cardano announced this partnership with chain link and to the candidate its something that i did not also also have on my radar because of the integration with ergo pre smart contract launch i also kind of felt that ergo was going to be the oracle of choice in terms of um was going to be our karanos oracle of choice and hence the prediction that ergo was going to be the one that would be the go-to oracle supplier for cardano but theres there are several interesting mixes here and that is one how does that affect our investments into ergo as well as chain link and do the pre-existing arrangement with ergo continue while they also still integrate with chain link so we dont have much information regarding how these partnerships will work with the two different organizations already different the funny part here is this this is a tweet from emergo about a year ago so what if we told you that alex chipono founder of ergo also founded smartcontrol.com which eventually became chain link okay and that was in response to the announcement they made the same 28th of august 2020 so this was the announcement they made last year at the same time they were also contemplating their contracts with chain link and i think they were just trying to clear the air or to just put out hints out there that hey look channeling and ergo are really the same people so i im really interested to see how this pans out but it also kind of gives a level of visibility towards chain link directly integrating as being the official oracle for cardano and so i definitely also need to start looking into chain link much more closely if we look at the price of chain link right now you see the training is trading at about 24 but it has an all-time high of around fifty dollars maybe prior to this time and actually predicted that chain link would do a lot better than it currently is and i do think that if defy explodes on cadance block smart chain then um we should expect a lot of price action for chain link also right now because now being the official oracle supplier for cardano you can expect that this is going to explode already chaining provides 70 percent uh support provides oracle support for 70 of the entire device space um to add cardano into the mix means that they would also be getting a bigger chunk of that pie and so um in the short term you can almost expect a return back to that 50 range and maybe even more to more to come in the coming months total supply is about a billion right now and why i was really looking at ergo and i still i still have ergo within my site ergo has a total supply of 36 million ergo is a lot more than just a an oracle supply and that is one of the reasons why i will still have ergo in my bag i still believe that ergo is one of the projects that is currently grossly undervalued and needs to have more exposure and i still believe that you need to have some ergo within your wallet as far as im concerned not financial advice its a no-brainer but chair link with this partnership now opens up a new level of exposure chaining with this partnership opens up a new level of exposure to this particular oracle and but the fact that theyre owned by the same set of people i dont know how that really plays out overall maybe someone can help me out within the comments section how do you think this pans out over time where should we be looking at um where should we put in our money does it affect the price of chain link or is it inconsequential to the price action that chaining is going to be having over time i dont think so but lets have this conversation lets talk about it and thats the reason why i bring it up here so day two of the summit is still going on and well probably have more announcements as more news will come out from that summit thanks for sticking out with me on this one until i catch you in the next one stay blessed do you Use my referral link to sign up for Crypto.com and we both get $25 USD :Coinbase Referral linkGet Free $10: Binance get 10% Discount:
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