Chainlink’s Web3 Projects Excite Former Google CEO
In a recent conversation between Eric Schmidt (a former Google CEO) and Chainlink co-founder, Sergey Nazarov, the two looked into how Chainlink rose to become a trusted leader in Web3 trust service and compute platform.
In their discussion, former Google CEO, Eric Schmidt said that the work the Chainlink network is doing epitomizes the actual characteristics of the Web3 industry. According to him, these characteristics are distribute-ability, immutability, and trustlessness, which are the robust foundations that lead to any computer system’s success.
The ex-Google chief executive revealed that he was not sure of the real intention behind Web3 but was made to believe by Nazarov’s brilliant explanations about the Web3 industry. However, Eric Schmidt said the concept behind layer 2, which utilizes tokens to reward behavior, was a crucial development within the last 3-4 years.
He added that it is nearly impossible that companies in the Web3 industry will push Google, Amazon, and other top tech companies out of business. However, he stated that the time would come when the need for trustlessness through Web3 won’t be necessary again. Also, centralization will be needed to achieve decentralization.
Whale Activities Cause Spike In LINK’s Price
Earlier in the week, Santiment, an on-chain analytics firm, confirmed large-volume crypto holders’ activities on LINK tokens. According to the data, Whale transactions were the highest in four months. Furthermore, these whale transactions caused a massive spike in the price of LINK, Chainlink’s native token.
The whale activity happened as cryptocurrency investors and traders began to pay attention to the native token in September. LINK recorded 33 transactions, each at more than $1 million.
The top crypto platform, Binance, released its oracle network last week, making it a Chainlink competitor in the oracle network industry. Nevertheless, Chainlink recorded 15 integrations of its services across five chains last week. The chains are Ethereum, Avalanche, BNB chain, Polygon, and Arbitrum.
In a recent tweet, Chainlink reminded LINK holders about the platform’s staking service. Holders interested in the staking service can check their eligibility and participate in this first-ever staking service.
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