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hey guys welcome to the wave crypto club we talk about a lot of things crypto if that interests you subscribe to the channel tell your friends about it in this video well be talking about chain link its very special that because for me this is the first video on this channel and ill be talking about a crypto that is that is doing an important job in the in the crypto space which is bringing data from the outside world to a blockchain right so chainring is an oracle oracles help connect a blockchain to the outside world why is that important ill tell you that before that ill give you an example of why im like an oracle so if you are here trying to learn about cryptos then im here telling you that hey this is this is the crypto this is what its doing theres a problem with solving and so on i spent hours and hours making the research doing the research and condensing that into maybe 10 15 minutes of the most important thing that you should probably know from where you can start your research journey so im like an oracle bringing that authentic data to you from all over the place to you in in like 10 15 minutes and chain link does something like that chain link actually brings data from the outside world to the blockchain why is this important so the blockchains like ethereum are you know are like the proverbial living under the rock they are completely unaware of what is happening in the outside world they have no clue thats because they have no data of the outside world but they need the data for instance there could be an insurance contract for which they need data of whether is there a hurricane outside is there a earthquake outside they need that data and that is where changing comes into place so chain link brings this data it could be stock market data it could be monetary policy data it could be interest rates it could be uh you know did a presidential candidate win the election this could be did a football team win the match whatever that real world data is the oracle is sort of going to connect that real world data to the blockchain and chain link is a leading oracle which is doing that lets see how this can actually help there are a number of use cases you know right from decentralized finance enterprise use cases insurance nfds and social impact ill take a very simple example something that you know you guys must have faced for sure flight insurance so if youre paranoid that i might just cancel my trip for some reason then you will book a flight insurance so that you know if you have to cancel you can cancel you get your full refund for some small premium that you paid or you might be paranoid that there could be a delay i need to book another flight so ill book flight insurance for for that so you know that is something you could have done so flight insurance is something that we all do but what is the process you you know you book a flight insurance while youre booking the ticket and then maybe you have to follow up with the insurance company to get your payout right there are humans involved in between so this is where the blockchain is going to make it more efficient if for instance an insurance company creates an insurance smart contract on something like lets say an ethereum blockchain then it does not need any intermediary it does not need anyone in between to complete this whole process how will this work lets say you enter like you buy an insurance you buy a flight insurance on an insurance companys smart contract now what would happen is that oracles like chain link will connect the insurance smart contract to the flight data to lets say air traffic control data or to the weather data or basically authentic source of data that they need to figure out if the flight was delayed or not so lets say your flight was supposed to take off at 1 pm and for some reason it got delayed so it the insurance smart contract is going to check maybe even a fraction of a second after 1 pm to see if the flight was delayed or did it take off if it took off then its a no so if it took off then it you know its a no for the fact that the flight was not delayed hence you will not be getting your insurance payout but lets say for some reason it was delayed the flight hasnt taken off then you get your insurance payout directly no need to interact with any humans after that no need to call up the some call center no need to report on their website no need to tweet about it it just happens seamlessly this is where something like chain link is very important it brings real world data it brings authentic sources of data to the smart contract to enable this process this can be used in a lot of other things like flood insurance a farmer is buying uh you know insurance for his crops lets say if the rainfall is about certain mm in that particular day then the insurance company has to give give the farmer a payout so that that is something can be checked you can have authentic source of data you know from the best weather companies maybe from government agencies that that use that is used as a field for the uh for the insurance smart contract and chain link as an oracle will connect that data that is crop insurance you know here you could take everything from rainfall temperature to all kinds of data that is required to understand if a crop will fail or not and based on that a farmer could get his insurance this collateral insurance and so on now other than insurance d5 is a very big space d5 probably might become like trillions of dollars in in market cap you know as the market matures and there are some very interesting spaces where oracles will be needed in fact most of d5 will need oracles money markets decentralized exchanges stable coins options and futures mirrored assets yield farming insurance of course these are big spaces each of them trillion dollar kind of sectors where oracles will be needed in all these places you know this there is a problem and chain link might just be that oracle that is trying to solve this then theres nfds in blockchain how will the chain link help here well chaining can help in the process of nfd mining in gaming in you know no loss price games in loyalty rewards in the ordering process in governance in a lot of these places chain link can be used and our people using it are applications using it yes they are there are many games that have already integrated or many nft players that have already chosen to integrate it with chain link even d5 for that matter if you scroll down youll see a number of these players have already integrated with with chain link there are many tens of these that have already integrated chain link is the leading so uh leading oracle for all these players and what else can chain link do now if you are lets say an enterprise or if you if youre somebody who has authentic data it could be coin gecko that has a lot of information about cryptos it could be accuweather that has your weather information it provides an additional way to monetize their data it provides an additional income stream to all these large enterprises by becoming data providers on chain link so that the end smart contracts can use them so thats one way a lot of enterprises will also benefit from this now what is the liquidity supply what does the tokenomics look like so typically i analyze six things i look at what is the tokenomics what is the the product roadmap what is the utility what is the activity what are the what does the team look like and who are the stakeholders right and tokenomics is a very important part of it is the supply cap yes it is this is important because then you know that its not an inflationary token supply your value will not keep you know degrading every year is it fixed fixed and cap supply yes it is who owns it now if you look at this about 35 percent go went to the public token sale that means people like you and me some investors might be owning it there are no operators an ecosystem on about 35 the company itself owns about a company in the sense the founders and so on they own about 30 percent totally there are about 1 billion chain link tokens out there who the investors they do have a decent lineup of investors a number of investors have invested into chain link why is this important it is important because large investors have a lot of capital to deploy to specifically deploy into due diligence of the tech of the legal aspects of something like this you and i probably dont have that you and i cannot spend a lot of money on due diligence but these guys do they have the resources they have the money they have the time they can do that and it is important for us to sort of piggyback on them piggyback on the effort that theyve already put in so when you know when you know that there are a leading set of investors investing into something then it just feels good its just a factor of safety if your resources youll see that chain link not just has one white paper it has its second white paper today why is that important its important because if a a a company is or if a crypto project has well-defined white papers it means that they have spent a lot of time and effort into defining what they want to do they are crystal clear the white paper 2 is almost 136 pages long thats insanely long and among all white papers that i have so far read that shows that the company is trying to put a lot of effort into understanding the problem into defining it into into solving it and knowing exactly what theyre trying to do they are not hazy about what theyre trying to do i also look at you know what rating agencies are trying to say if you look at token inside rating theyre giving it a 70. block economy says 93. you can even dig deeper you can look at you know from product progress team token fundamentals you can look at how are they rated based on different parameters and thats a pretty good rating they are rated almost they are rated almost four four and a half on five or even five out of five on many of these parameters i usually go through this to see you know to get an idea what other rating agencies are talking about if most of them are giving similar ratings like were looking at around 80 93 70 etc if most of these are similar ratings not to absurd you know you know theres a 90 and then theres also a 10 right if its similar then i dont you know im okay i just like pass but if there is a 90 like if lets say five of these ratings are saying 90 and then suddenly there is one rating agencies that that is saying five then ill dig deeper there why because somebody found some red flag and hence theyre rating it as five or ten or some low rating something like that here i dont think so i didnt see any abnormal rating anything that is extraordinarily abnormal so you know thats one thing that i always look at as of today only about 11 of people who hold the chain link are in profit more than 87 percent are at a loss that means a lot of people might have entered it in the last year or so and it has crashed significantly since then so it makes sense and you can actually confirm that looking at this 66 of the crowd has been owning it for more than a year but about 35 percent have been owning it uh in the last in the in the last one year price correlation with bitcoin is 0.61 this is important because most of the tokens are heavily correlated to bitcoin price if you take any other token take ethereum also it might be like 9.9.95 why is that its because most of these tokens dont have an identity of identity of their own beyond bitcoin so it means as bitcoin rises the price of these tokens will also rise as bitcoin falls the price of these tokens will also fall but with chain link that correlation is much lower compared to any other crypto and thats a great sign it means that chain link is trying to create its own identity and hence its price movements might soon become more and more de-linked from bitcoin price movement now what is changing is trading at something like six point four three dollars uh its market cap is close to about three billion dollars chain link has crashed a lot it was you know at least an all-time high of 52 dollars in the last uh in may of last year today about a year later it is 87 down from where it was uh so that is in terms of price where chain link really stands hope you like this video if you did like it then hit the like button click on the bell icon subscribe to the channel tell your friends about it share it with your friends and you know bring more people to the club welcome to the wave crypto club How do you know whats happening in the world? You probably read the news, follow someone on social media or a friend tells you. All these are examples of oracles. Crypto oracles tell the blockchain what is happening in the outside world. They supply crucial data to ensure requirements of smart contracts are met. How to evaluate tokens: Subscribe to the Wave Crypto Club, were at ...... 28% ............... 29/100 of our goal. Your subscription will go a long way in helping us reach our goal : Join the Wave Crypto Club at Join the Wave Crypto Club telegram group at Disclaimer: Wave videos are meant for education and entertainment purpose only. We are not financial advisors and we do not recommend any crypto. The content and resources are only meant to create awareness and nothing else. Investments made watching this channel is at your own risk and knowledge. Wave holds no responsibility for any profit or loss of your investments. If you choose to watch the videos then you agree to the above disclaimer.
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