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chain link is about to jump now this has been highly requested for me to do a comprehensive breakdown for all things chain link how they got started what exactly theyre doing and whether this is a good coin to take a deeper look at and possibly invest into or not and this is impressive this coin is impressive its one of those things that its like the deeper i dig into it the more im like wow this makes so much sense i love cryptos that you look into and youre like this should already be a thing and also coming from a more traditional investing background where im looking at companies and trying to build models based on their cash flows or their profits and and looking at looking at future expectations that way i really try to look at coins and find coins that have very strong use cases that solve expensive problems and i think chain link does exactly that so lets get into the comprehensive breakdown here of course as always i have built a big ol flow chart for the use of this video if youre interested in downloading this flowchart as well as all my notes for this video go ahead and join the patreon youll also get things like buy alerts private content private live stream tons of things going on there it is limited so youll want to join as soon as possible if you are interested all right so hopping in with the beginnings here for chain link all right the beginnings how did this thing start in 2014 32 year old entrepreneur sergei nazarov founded smart guy and then chain link was launched three years later in september 2017 and they raised 32 million dollars from their initial coin offering now i think its important to start with with the beginnings how something started how how it works and then get into how its going right now and build a summary at the end because if youre going to invest in something i strongly believe its important to know everything you can know about that before you put in your hard-earned dollar so what is chain-link simple its a blockchain oracle but what exactly does that mean so it provides real world data to help fulfill obligations of smart contracts and it is extremely secure at doing so and extremely accurate so to explain what exactly theyre doing differently lets back this up set some definitions and set some real world examples that way its easier to to see the problems that this can solve and how chain link can do it better so first off what is a smart contract smart contract is a self-executed trustless contract between two parties using the blockchain and breaking that down a little bit further the self-executed aspect here is the parameters are set prior to an agreement this is the same as any contract you you have a contract with someone to build a deck on the back of your house for two thousand dollars lets say you have a little agreement you both sign it it says you build the deck i give you two thousand dollars a contract is simple a smart contract is executed as soon as the specific criteria is met so with a regular paper contract you know you have this agreement you build me a deck i give you two thousand dollars after the deck is built you pay over the two thousand dollars but what if you dont pay then the deck builder hes screwed so with a smart contract its executed automatically so once the deck is built the builder gets paid immediately this is kind of a small real world example well get into more examples in a second here and then the trustless aspect the two parties need no trust between each other because the agreement is executed out of everyones control it neither party neither you or the deck builder have any power over the contract and the blockchain has no power over the contract either no one has power its irreversible and tamper-proof because its on the blockchain and a public ledger which it just revolutionizes everything so lets cover some examples in the real world what smart contracts can do because this is one of those things smart contracts and defy are two things that i am so excited about with the blockchain just yeah lets just dive in here so uh first off purchasing anything so a contract could be set to release funds as soon as an item is delivered just like that deck building example that we just explained simple enough to understand that real estate a contract could be set to transfer the title of a home immediately once funds settle so when you buy a house theres all sorts of paperwork theres escrows theres title insurance theres all these things that could be greatly reduced the friction could be greatly reduced and the bloat there could be greatly reduced by a self-executing contract because you dont need any trust in the system there could be thousands of dollars saved in each and every housing purchase transaction using the blockchain using a smart contract content creation now this ones really interesting because this could be used a smart contract could be used between a content creator and a viewer there could be a subscription service where you know you pay 10 a month for every video you watch that creator gets something like a penny or you know something along those lines or just the the need for platforms so something like a google play or an apple app store they get a 30 40 50 percent cut in some cases of app purchases in downloads well you dont really need a marketplace if there is a smart contract where you can just download this thing and theres no friction in between of course networks need to be built and there has to be you know systems and infrastructure in place and people have to know about where to go so theres issues there but you can see the possibilities with you know reducing the need for platforms and middlemen this really is just reducing middlemen and making things more efficient you could also think of something like uber where why would you need uber taking their cut between the driver and the rider when the driver and the rider are all the pieces of the puzzle and everything any conflicts are executed and resolved by the smart contract in between theres a lot of exciting applications here heres another one sports betting a contract could be set to execute after a game completes so you bet that team a is going to win team a wins you automatically get paid theres no hassle in between but smart contracts is awesome as they are they need a little bit of help in many cases they need real world data so something like sports betting how does the contract know team a won the game and not team b this is where chain link comes into play and this is why they are extremely exciting so it addresses two major problems the first one middlemen are bloat this is basically what weve been talking about in the long run middlemen get whittled down and they go away americans understand that i cant hear you whats your name scumbag and we can see this already with something like a travel agent i mean how many travel agents are there anymore that that middlemen is now reduced down to a platform who charges slightly less or you used to actually have to call a person who is a stockbroker to buy a stock now you can do it for free on an app so middlemen are constantly being whittled down and this is just one major way to do it and the second issue it addresses is typical oracles are centralized and when something is centralized if youre if youre relying on one entity who has all the data you are relying on the t word again which is trust and we want to limit how much trust were relying on any individual or any organization and thats where the blockchain and chain link comes into play so chain link provides real-world data through a decentralized publicly verifiable ledger its completely transparent you can see exactly what is going on and itself executing so data is verified through node operators who make up the chain link network node operators are rewarded in the link coin link is the native token for the chain link network and theyre rewarded for providing that real world data thats confirmed with other known node operators and it is also stakeable you can stake your link and that means its technically an income producing asset baby we love income producing assets around here so ideas and opportunities are great and all but how are they actually doing what are they actually doing because we want to actually see some progress towards these goals and ive got some good news for you because theyre doing pretty darn good they got some crazy partnerships so lets cover their notable partnerships first off they have a partnership with oracle surprise surprise oracle wanted a partnership with the company who has an oracle anyways oracle has helped chain link with some of their technical hurdles especially back in like 2019 they also have a full partnership with google cloud so google trusts chain link and believes in chain link and google of course is pretty forward-looking in in their enterprises and their investments and thats something thats extremely exciting for me because i look at this im like okay if its good enough for google its probably good enough for max maher and that may be really exciting to see and they also have mini d5 players and crypto exchanges that use their data feeds so chain link is kind of like the brand name for data right now on the blockchain and its like if you start in exchange you pretty much at this point have to use chain link now theres other service providers but its like theyre the brand name and its theres some trust behind that brand name so if we pop over to their website here we can see some some big names that they work with if we scroll down a little bit we can see some big names that they work with like celsius and these companies use the data for their defi and for their exchanges through these data feeds that show the various prices of all the coins and theres tons of stories of these exchanges in these d5 platforms not using chain link and seeing some very very bad results with hacks and other you know attacks and issues with their d5 platform and not having you know the best data feed now there are many players trying to do something similar to chain link in this even cardano is doing something similar which im very very bullish in cardano but they are going against the brand name right now and who knows if theyre going to be able to tackle that issue and all the other issues that theyre trying to solve so thats thats going to be interesting itself thats not to say that i dont like cardano at all i have a very large position in cardano relative to my other crypto positions but it seems chain link by far has the head start in this area so lets do a quick summary here first off use cases we want to see if there are use cases for these coins you know that answer we can see a check mark there there are obviously use cases theres near unlimited uh oh five percent left theres near unlimited use cases with smart contracts were gonna have to make this quick money behind the use cases because its okay to solve problems but if they can solve a problem a multi-billion dollar potentially trillion dollar problem then of course the coin is going to be worth much much more and thats kind of where you want to place your money place your bet on on the coins that are solving multi-billion dollar problems of course we get a check mark there because theyre solving several or they can help several multi-billion dollar industries including but not limited to you know title transfers like we talked talked about brokers of all kinds that could be stock brokers that could be exchanges for cryptos any kind of broker really could benefit from smart contracts and real world data any kind of marketplace any kind of excho i mean im sure you can think of other other examples leave them down in the comments if you have some kind of unique idea for the use of a smart contract because its something im really excited about and theyre already doing the darn thing they already have tons of partnerships they have a lot going for them right now like i said this is a coin i am very excited about and i cant wait to see what happens with this coin in the next few years as people realize the potential here and ultimately the price will jump up and up and up from here so thats going to do it for today check out the links in the description for the crypto exchange that i use for various offers for free crypto free stocks make sure you join the patreon because i just opened up some more spots and they go quick i would like to thank you so much for watching and i hope you have a profitable day Chainlink Explained in Plain English. LINK Analysis. Chainlink Crypto. Join Finova! formerly Patreon: Learn how I earn $50,000+ per month on YouTube: Crypto exchange I use: Get $5 in FREE Bitcoin on Coinbase: Get up to $250 in free crypto and 8% interest when you open an account a BlockFi My in-depth moving company course: My Favorite Credit Cards Best Personal Card For FREE Travel: Best Business Card 1.5X points EVERYTHING: ALL of my camera and recording equipment: ️Get emailed to be notified of new posts and exclusive content. No sales. No BS. My Instagram: Chainlink Explained Chainlink LINK Coin LINK Crypto Chainlink News Today Chainlink Staking Schedule one-on-one business consulting with me here: *I am not a financial advisor. This is not financial advice