Weiss Crypto Ratings: Chainlink (LINK) adoption is expected to increase

Weiss Crypto Ratings today rewarded the Chainlink project for its ability to connect smart contracts to the real world, predicting for the near future, an increase in the adoption of the LINK token and the related technology. 

According to what has been reported, it seems that Weiss Crypto Ratings has analysed some iconic altcoin projects trying to identify which could really make a difference in the real world and which, in contrast, will become zombie coins.

What emerged from the analysis is the Chainlink project, which seems to have captured the attention for its functionality that allows direct access to the outside world. In other words, Chainlink offers the possibility of inserting real-world data on the blockchain. 

According to Weiss Ratings, another feature that rewards Chainlink is that it can also act as a support to other blockchains and smart contract platforms such as Ethereum, EOS, Cardano (ADA) and NEO, which would otherwise exist only in isolated cases with more limited utility.

Platforms like #Ethereum (#ETH), #Cardano (#ADA) and #Tezos (#XTZ) will probably also need #Chainlink. They run lots of smart contracts & aim to replace a host of centralized services in the world today. That’s not going to be possible without reliable and secure real-world data.

— Weiss Crypto (@WeissCrypto) December 12, 2019

“Platforms like Ethereum (ETH), Cardano (ADA) and Tezos (XTZ) will probably also need Chainlink. They run lots of smart contracts & aim to replace a host of centralized services in the world today. That’s not going to be possible without reliable and secure real-world data”.

Furthermore, according to Weiss, it seems that in the last two months the adoption of LINK has already gained ground and that the project has made new collaborations which see it as a protagonist not only in the crypto or DeFi sector but also with regard to private enterprise blockchains. 

As previously reported, Google and Oracle have already started to use Chainlink, while Intel and Hyperledger intend to collaborate as part of a consortium that facilitates the development of blockchains for companies.

In addition, Chainlink, which allows the use of tokens for its decentralised network of oracles, has seen other collaborations with Coingecko, Zilliqa (ZIL) and QuarkChain.

At the moment, Chainlink has received an overall score of C- from Weiss Crypto Ratings, however, the evaluator also advises to be patient and to consider the LINK token as an attractive and potentially very profitable investment. 

So, it is an excellent consideration the one dedicated to the current 17th cryptocurrency per market cap, which, just a few days ago, was also listed on the Bittrex crypto-exchange.