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what is up people of youtube welcome back to the channel hope youre doing well today were going to cover chain link and chain link updates so in todays video were going to go over what chain link is real quick and were going to go over two articles one here from coindesk going over bank of americas recent statements about gene link and the other one is also from coindesk this one is a ex google ceo joining chain link labs as a strategic advisor so those two articles are very exciting and well get into that very soon first for chain link right now were in chain.link their website securely connect smart contracts with off-chain data and services so chain-link decentralized oracle networks provide tamper-proof inputs outputs and computations to support advanced smart contracts on any blockchain so if youre new or confused about what any of that is hopefully in this page it will clarify for you and also here chainlink labs is hiring so you know lets go ahead and close this so here well get into this later on in one of the articles but uh the total value secured in chain link smart contracts is 60 billion so right away in their home page they have a start building your hybrid smart contract with chain link so you know this isnt really something im into but if you want to get into it go ahead and going further down they want you to know highly secure and flexible infrastructure reliable tamper proof network seamless connection to any api proven ready-made solutions secure option computation as many of you guys know chain link is probably one of the best cryptos out there of course the space is still new but you know people really believe that it might hit top 10 in the future im not sure if it will but i wouldnt be surprised but i do really think its the coin that will be around for a very long time so here we are kind of in the middle of the page but they finally answered what is chain link the industry standard oracle network so its the leading oracle network chain link greatly expands the capabilities of smart contracts by enabling access to real-world data and off-chain computation while maintaining the security and reliability guarantees inherent to blockchain technology so chain link essentially is a service to blockchains what do they do they give their smart contracts real-world data and off-chain computation so thats a pretty crucial aspect of blockchain and here were in the use cases tab decentralized oracle that works for any smart contract chain link enables smart contracts on any blockchain to leverage extensive off-chain resources such as tamper-proof price data verifiable randomness keeper functions external apis and much more now i will say for verifiable randomness i know this will be really good for a blockchain games because chainlink can guarantee that actual random results happen in a game and you can learn more about each of these uh points even on their twitter they actually tweet about uh learning about each of these which is really helpful and here theyre showing examples of what they connect to smart contracts what they really mean by off chain data so payment providers other blockchains asset prices i know they have a weather automation bots the list goes on medical data there it is weather data so this is sports data so this is some really valuable stuff so the reason chain link is so important why its the leading oracle network and why i believe it will be around for a very long time smart contracts are inherently disconnected so basically these uh blockchains need chain link to connect smart contracts to the real world theres a lot of jokes and you know people saying that shin like right now is a monopoly and perhaps it is but you know maybe you want to take advantage of it for now i do think it will be around for a while said that three times now but i really believe in the future of chain link and guys ill have this link in the description if you want to check it out for yourself theres a bunch of information here secure oracle networks powering option data and services for any smart contract here they have some little tabs and here the most trusted oracle network in d5 so go ahead and go to the description if you want to go to their actual page oh look at that going a little bit down they even have one for a on-chain randomness like i was saying they can help with blockchain games and even more aspects well guys theres a bunch i could say more about chain link but lets go on to the articles so here chain link tweeted according to a recent bank of america research report chain link is the likely driver behind defines growth to 200 billion dollars total value locked coindesk covers the report on how chain link is powering blockchain adoption across finance insurance gaming and other industries so since both of the articles were covering is coindesk i do want to cover their tweets too so what their caption is bank of america this chain link could accelerate the adoption of next generation blockchain use across finance insurance supply chain gaming and gambling all right so here we are in the actual article bank of america says channeling likely driver the decentralized oracle network has secured more than 60 billion dollars deposited into smart contracts so it looks like bank of america had a chat with a chain-link co-founder sergey nazarov if you guys dont know sergey uh hes a really smart guy he was on the lex freeman podcast i recommend watching that i did so going further into the article the market leading decentralized oracle network has seen major adoption chain link is the likely driver behind the growth of d5 total value locked 203 billion as of february 15 a gain of 313 year-on-year analysts led by al-kish shah wrote in the note on wednesday so d5 is actually an umbrella term its used for lending trading and other financial activities carried out on blockchain without needing to use traditional middlemen so a lot of people think defy is just all crypto but its actually kind of a specific part of crypto its more of the lending and trading aspect of it now the adoption and growth of d5 last year was driven by the ability for hybrid smart contracts or self-executing and tamper-proof digital agreements to verifiably and securely access real world data through oracle nodes like market prices time of day weather gps locations etc now without even needing to know the specifics of that you can already tell its a pretty important aspect of blockchain and were so early in this that you could see this being really necessary in the future as of february 15 chain link oracle secured more than 60 billion deposited into smart contracts up from 7 billion at the end of 2020 the bank said the oracle network generated more than 2.5 million verifiably random numbers for nft distribution and gaming up from almost zero at the end of 2020 the report said the oracles also enabled the next generation of blockchain use cases which require real-world data and could disrupt mature industries the banks analysis said so bank of america noted that over 1 100 projects leveraged chain links network and companies including the associated press accuweather sports monks and 800 others have launched oracle notes to monetize their data its not about their acquirer token link the networks native token is the 22nd largest crypto by market value at 8.1 billion pretty sure this report came out a little bit ago not too long but im sure these numbers might be a little different now in other videos we cover market activity and how we are currently in the you know the crypto market and how bitcoin is doing but um im not sure if its currently at the 22nd largest but i will say 8.1 billion market cap anything below 10 billion for chain link i think is an absolute steal im personally keeping an eye on it who knows if a crypto market or just the markets in general will drop lower so im not gonna you know go too heavily if i do invest but im definitely keeping an eye out for it all right guys now for our second topic eric schmidt is now an advisor helping build chain links the chain link tweeted former google ceo eric supports the world powered by truth chain link is a secret ingredient to unlocking the potential of smart contract platforms and revolutionizing business and society so thats a pretty big deal guys this guy was a ceo for google and he uh joined chain link as their advisor now one more time since its a coindesk article lets go over their tweet former google ceo eric schmidt has joined chain link as a strategic advisor to help guide the oracle provider as it scales up all right now for the coin desk article the executive will help guide the oracle project as it expands heres a picture of the guy looking real intense here so they start off by you know stating chain link you know develops oracle networks to connect data smart contracts of course we got over that so erics experience and insights around building global software platforms for next generation innovation will be invaluable as we help developers and institutions usher in a new age of economic fairness and transparency so schmidt served as googles ceo from 2001 to 2011. when a company went public launch services such as gmail google maps chrome and acquired youtube and android these are some pretty big accomplishments the launch of blockchains and smart contracts has demonstrated tremendous potential for the building of new business models but has become clear that one of blockchains greatest advantages a lack of connection to the world outside itself is also a big challenge schmidt said i am excited to be helping the chain link labs team build a world powered by truth so thats great to hear i personally havent heard of eric before this but it sounds like hes a really a guy whos you know about philosophy truth and freedom whats really exciting about the crypto and blockchain space is were seeing these people who have been in traditional uh industries leave them for these uh blockchain you know decentralized um industries which is really exciting because you dont really see it the other way around once youre into decentralization you dont say you know man i dont like this im gonna go to centralize traditional industries youre seeing the opposite happen but that makes me very excited for the future because at the end of the day i do believe decentralization is you know i think its truth i think its power i think its freedom and im really glad these people who have been in these you know powerful positions in traditional industries are also seeing that and making the change so i think thats going to do it guys thank you for watching keep an eye out for chain link and i hope you have a great day @DiogenesCrypto --------------- CoinDesk - Bank of America Report on Chainlink CoinDesk - Ex Google CEO Joins Chainlink Chainlink Website --------------- Tips Appreciated! 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