what is chainlink arbitrum chainlink weather data chainlink kurs dollar Chainlink VS Band Protocol VS DIA Crypto [DEFI] LINK BAND Smart contracts chainlink explained
hi everyone welcome back to the channel my name is Zari and you guys are watching finance square in todays video im gonna be giving you the fundamental as to what keep this crypto ecosystem going now i know ive been talking about a lot of defi project and smart contracts and many different projects now the fundamental to make sure this ecosystem keep functioning and growing its this ecosystem called oracles now for this specific video im going to be talking and comparing chain link ,band protocol and DIA now for this specific video for you to understand what those projects do i need to explain briefly what is smart contract and also what is oracle and what are the different types as always im gonna be providing you guys and ranking those three projects for you guys so basically im gonna be giving you guys an in-depth analysis and research in regard why those coins or priced the way they are and which one is more likely to succeed which one has less chance to succeed so lets start straight away by explaining what is smart contract so this is maybe the best definition i found smart contract is a self-operating computer program that automatically executes when specific conditions are met. Very simple so basically if you guys are using ethereum or if youre using metamask or if you are a new Uniswap or any of those defi platform they need to use a smart contract in order to transact in order to work so oracles retrieve and verify external data for blockchain smart contract methods such as web API, or market data feed , the type of data required by smart contract can include information on price feed, web information or even random number generation for gambling or other purposes. So the best way to actually to look at it is that if you are now to going to book a flight on sky scanner they use a certain oracle in order to retrieve the data from different airlines without this specific technology sky scanner will not be able to present you the information for example you wont be able to see the the flight number the date the price and the brand for example whos operating this so this is for you guys to get an idea. Now again this is not an educational course about oracle but i just want to give you like an idea what are the different types so you have the hardware oracle you have software oracle you have the consensus oracle which is relevant for the defi and cryptocurrency and then you have inbound oracle and outbound oracle .So hardware oracle is a sensor integrated with tangible physical object so basically in order for you to get like information regarding what is the temperature of the van that youre delivering food for example. That can be also a possibility. Software oracles, the most common form that pull data from third party for example will be like flight and status and weather data. Consensus oracle which is the exact oracle that we are talking when were referring to project like chainlink, band protocol and DIA for example so consensus oracle represent a step toward decentralized oracle rely on aggregating data from several oracle with proprietary methods for determining their authenticity and accuracy so the whole concept is that you are trying to retrieve from different places the same information and if the majority, if everyone has the same agreement this is the right information thats how it is based. So its not enough by just going to google theyre going to be using multiple search engine to get the right data if all the data are aligned based on the majority thats how theyre actually going to be making a decision and also you have something called inbound oracle which reflect if this happened then do that. This is maybe for real purposes that can be a perfect example. Outbound oracle allowed smart contract to send data to sources outside of the blockchain network they exist on. There are software oracle that can also be quite interesting so lets say an exchange i think lets look at uniswap need to send data to lets say coinmarketcap so this would be probably an outbound oracle to send data regarding the exchange or regarding the trading history to outside so this is the lesson about the oracles. Im going to dive in straight away and review Chainlink and afterward when were doing band protocol and then DIA so were now gonna be reviewing chain link website so this is the website so they have this slogan ; connect your smart contract to the outside world this is again this is outbound oracle which we just cover as well they can also provide this so this would be probably quite interesting for financial institution venture capital and other traditional company need to get some data from a smart contract sphere. The good thing i like about the website is you can really see a lot of companies and in this case you have AAVE, Synthetic, Celsius so a lot of crypto related industries are actually partnering or using this solution so basically they have price fee they have randomness which to be honest i have no idea what it means, they have also, any api, so basically any API can actually integrate trying to show you how simple this is and i really like the website. It is quite responsive, very inviting, again im not going over the technology because i have zero technology background im just going over their website, the way they present it ,the way to try to get more and more business so they have highly secure and flexible infrastructure reliable tamper proof network seamless connection to any api again its a very important thing to be able to connect to any api because if you come from A api and then you only offer C API that can be a problem so the fact that it can actually work with any api its a very good thing proven time-tested solution transparent oracle computation so this is obviously quite interesting and obviously they explain why so apparently chainlink is the industry standard oracle network chainlink greatly expand and the capacity of smart contracts by enabling access to real-world data event payment and more without sacrificing the security and the reliability guarantee inherent to blockchain and technology so this is literally what are its happening here we have the industry leading team that are actually using it and what they talk what theyre saying about it and they obviously have google here for example this is quite interesting whats happening here you really have a lot of big brands behind it so again this is really the most used oracle solution by a leading defi projects and again with the rise of the defi were also seeing the rise of oracle solutions like Chainlink okay so you can see they have a lot of social media activity Im not going to go there because you can go for yourself and learn more about it but again they have a lot of information, community grant, program integration, grants so basically theyre trying to get more people to work on their solution to integrate with more program and software that maybe they havent yet done. Bug monthly program, resource program again i have worked in the past for enterprise and for a financial company and this is really the thing that i like to see so this is really show me theyre quite serious so this is just from their website im gonna go here to overview so they have overview, and then they have obviously focusing on Defi ,decentralized oracle for powering price feed so again most of the businesses that that are coming to them its related to DEFI projects so again if theyre going to be a very big crash in DEFI lets say defi become absolute and no ones going to use it for example that will make a very big impact on Chainlink so remember if no ones going to be using defi anymore and Chainlink is not able to find another solution that will probably affect heavily the price okay so this is my overview regarding chainlink, again they have been working with all the big players in the industry im also gonna look at their ico so they raised 32 million dollars um in 2017 and since then again the return on the iso was 290 times meaning if you put one thousand dollars looking at 290 000 if you put 110 eater looking at 440 if you put 10 inter youre looking at 440 eater if you put one bitcoin looking at 22 bitcoin this sort of return are amazing again the secret is to always try to deposit in fiat currency to increase your value compared to putting it in in cryptocurrency another thing that i need to look at in any project before i even give my opinion is to look at the market cap to look at the volume so the volume of the last 24 hours training volume is at was three billion dollars and the current market cap is 13.2 billion dollars now we also need to understand how much liquidity how many places are offering uh chain link or link token so based on core market theres over 404, 442 places appearing for chainlink this is obviously explained why we have such a very big liquidity or volume in the past 24 hours so just always think about the more people are offering your product or in this case youre talking the more likely youre gonna increase your volume and trading and liquidity this is obviously is a very liquid cryptocurrency now thirdly im going to tell you what is the price forecast for this token based on the current price momentum again im always trying to be modest all right so now im going to go straight away and look at band protocol. Band protocol its exactly what chain link is trying to do. So here they wrote secure scalable blockchain agnostic decentralized oracle ban protocol is a cross chain data oracle platform that aggregate and connect real world data and api to smart contract so this is basically what they are trying to do so you have that and then you have them and then you have real world use case for example so they have all these different products they have Bandchain node, they have bandchain explorer, ibc bridge, oracle script and tech spec. and again it literally try to explain why do blockchain need data oracle. Blockchain are great at immutable storage and deterministic a verifiable computation however they cannot access trusted real-world information available outside their network ban protocol enhances smart contract functions functionalities by granting them access to reliable data without any central point of failure right so this is basically here for what i can see they give this example so theyre working witH Binance, crypto compare, coin gecko so this is basically i guess, they are collecting the prices and they are providing to binance or maybe there are extracting the data from binance and crypto compare and Coingecko and theyre sending it to those different defi projects so this is basically what theyre trying to do and apparently that is a cross multiple blockchain so you have your polkadot ,you have ethereum and you have cosmos again if youre a big fan of polkadot or ethereum or cosmos i can see why you might feel comfortable you might be more motivated to invest in band protocol all right so this is basically who theyve been working with so you have here like Coingecko, Binance, Coinmarketcap, again i do not see a lot of partnership here and this is obviously something for you guys to to think about well so i can see it from the website again uh compared to Chainlink this is really not the best website. I really love Chainlink website whoever designed the website the ui and the marketing person they did an amazing job and this is also quite good but its not as good as Chainlink, okay its not as inviting it doesnt really give me a lot of information again i understand what theyre trying to do but Chainlink are really catering to institutional to retail customer to developer and people actually want to join and help raise awareness so this is something that i really like this is why it has such a very big market cap so lets now look at band protocol ICO So band protocol ico took took place on september 2019 the raise almost 11 million dollars and since then Who ever invested in dollars made 37 times return who ever invested in ether its almost four times, who ever invested in bitcoin almost seven times again this is probably not the strongest return I have seen but still decent anything above 10x in dollar value in my perspective its a good investment now lets look at the liquidity so band protocol has a 359 million market cap and the volume is almost the same as the market cap okay just for you guys almost the same now its not yet value at one billion dollars and again if you watch my yesterday video is my view on anything right now is that because of the rally that we have right in the market anything to do with Defi has the potential to reach one billion dollars market okay now this is the current volume so now lets look at how many places are offering band protocol, the band protocol has been offered by 100 different exchanges or platform and if you remember when we look at the chain link there was 400 so basically theres four times less compared to chain obviously this explains why we have this this volume again the volume is actually quite high because the markup is 300 million dollars and then we have the liquidity the last 24 hours volume is 300 million dollars its actually quite surprising so yeah just obviously think about that all right so now were going to move to the third project called Dia Data dia, So dia is also trying to enter this market so they verified and transparent oracle for the defi economy. So dia, stand for decentralized information asset, is an open source oracle platform that enables market actors to source, supply and share trustable data again Dia is probably one of the latest player when it comes to decentralized oracle or to oracle solution and again compared to obviously Chainlink or compared to band protocol you can see that theyre still maybe in the early stages they havent yet able to land a big partnership so this is basically a little bit of illustration what theyre doing so theyre trying to show that you have your bitcoin ethereum, ethereum classic, i think its compounded if I am not mistaken, and you have stable coin a dollar then you have euro and basically its trying to show you that they are in the middle they are extracting data and providing data vice versa to lending and margin trading derivative prediction market insurance and benchmark so again from my perspective this website is maybe the worst from all the three its a very generic it doesnt really give you too much information and i think this is something ill probably see whenever they raise money and not at this stage so again were gonna see when they raise money how much they raise money so again this is not the most compelling and inviting website but again it might be still in the early stage. i guess this is the founder and then you have few mentioned from different website okay this is their website so lets click here and see what they wrote about what is DIA. DIA is an ecosystem for open financial data in a financial smart contract ecosystem the target of this to bring together data analysis that the provider and data user in general dia provide a reliable and a verifiable bridge between off-chain data from verifiable source and on-chain smart contract that can be used to build a variety of financial depths all right so im going to give you some of my feedback from the feedback is that dia is probably maybe a little bit too late in this market and they probably need a very strong partner to really lift them up and obviously put them on the map right now i feel theyre not on the map at all dont have like a major player if i were them again if one of the team members watching ill probably recommend them to look for maybe new defi project that just started and then basically not even charge money just to provide them a solution just to have that brand if its Pancakeswap for example or any new defi project literally is about to raise money or is about to start ill probably target them and just to have a little bit more use case and then probably start charging other customer this would be something that i would like for them to do obviously theyre not there yet so this is the current market this is probably one of the smallest market that ive seen and we have here 89 million marker cap and then you have fully diluted markup of 632 million so this is the real market cap and the volume is 43 million dollars again its not so much now i want to remind you guys they actually raise money august so again so exactly as as i suspected still the early stage they raised 30 million dollars on august 2020 and since then theyre made a six-time return and if you invested in ethereum its 1.4 and if its bitcoin 1.4 again its not the most amazing return on ico again were looking at what six months or so since they did it. Maybe theyre gonna be able to do it. I like the market cap the marketcap is just below that 100 million dollars again if you watched my other video my current status, my current perspective is anything can reach to 1 billion dollars if you have the right product and if youre in the right industry in this case the are in the defi industry but the only sad thing about it that they enter too late and they need to work twice as hard if not more to try to get those defi projects to be willing to work with them compared to working with maybe band protocol or compared to working with Chainlink. Now im going to be reviewing and lets see here so lets review how many places are offering these tokens so there is only 46 places offering this token which obviously not very high number, again 43 million dollars is not alot of liquidity and again they just started in one year time they might even do better now for my verdict so I hope that you understood by the way I explained to you that i have already made my decision so for me the best investment based on everything ive seen on the website the market and the direction the company is going and the industry is Chainlink is the best investment for you guys if youre a low-risk investor or trader now if you have a bit more medium risk then probably gonna be looking at ban protocol, okay because Band protocol has enough liquidity they have already partnered with binance coingecko and coinmarketcap which is amazing and then you have DIA they just raised money few months ago and they are still in their early stage they havent yet locked in any partners and they really can make a lot of money if theyre able to really lock in some of those partners and obviously for us to know if it really working. Again no one really used them we havent seen a major enterprise or a major project saying that theyre using it so again for me this is probably maybe the riskiest investment from all the videos i cover because theres no real partners or a confirmation from another company that use them so this is a bit risky but again they did raise $30 million and whoever participates did make money so this is my summary for you guys for covering a Chainlink, Band protocol and Dia if this video was helpful you know what to do until next time My Crypto analysis can be an inspiration for your own bitcoin trading or investing, but its NOT financial advice. Please use the information stated as a guidelines and not as a trading advice!In todays video I covered the Chainlink, taking over the defi with decentralized oracles. I have reviewed from a marketing and business strategy Chainlink Link , Band Protocol band and Dia Data dai. By the end of the video you will have the pros and cons of each of the projects and can decide which of the projects are the best altcoins. Time stamp 00:00 - 01: 09 intro 01:10 - 01:35 Smart Contract Explained 01:36 - 05:01 Oracles explained 05:02 - 09:50 Chainlink explained 09:51 - 11:08 Chainlink price prediction 11:09 - 15:58 Band Protocol explained 15:59 - 21:17 Dia Data Dia crypto explained 21:18 - 22:50 Conclusion Best Place to buy Defi tokens: Best DeFi Strategy Video ___________________________________________________ ⇻ A N Y T H I N G T O A D D? Got any questions? Write a comment to start a discussion. ⇻ S U B S C R I B E Want to see more? 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