Survey Finds Chainlink’s Smart Contract Technology As Vital For Future Reliability
Chainlink’s (LINK) technology may be the future of smart contracts in the blockchain ecosystem.
A recent survey conducted by the Insights Network sampled participants active in the blockchain ecosystem. The participants were drawn from over 100 countries.
— INSTAR RESEARCH (@instarresearch) September 25, 2019
From the responses obtained, it can be argued that the market believes in the system Chainlink is providing.
Based on the responses, these are the key take away points from the survey:
- Chainlink is likely to receive more institutional investment.
- Chainlink’s proprietary technology is crucial for smart contracts.
- Chainlink is growing.
Successful Year So Far
The year has been successful thus far for Chainlink. The platform initiated necessary steps and partnerships that are sure to propel its development going forward.
Coinbase Pro and Coinbase Custody both added support for Chainlink this year. The support may likely translate to more institutional investments based on the results of the poll.
Furthermore. by providing services key to institutions, thus getting support from Coinbase may translate to more adoption opportunities by other blockchain and mainstream institutions.
Crucial Smart Contract Services
Chainlink acts as a layer of security between smart contracts and external data. Demand for the service is likely to increase with smart contracts covering a more extensive scope of blockchain transactions.
Securing smart contracts is currently the most logical option in reinforcing the security of the blockchain ecosystem. This sentiment is supported by the results of the survey.
The Chainlink platforms offer what could be the most appropriate complementary system for blockchain technology.
Expected Growth To Continue
With increasing support and a robust smart contract security mechanism, Chainlink is likely to grow even more in the coming years.
Chainlink already has a confident support base, based on the survey results, which is likely increasing as the platform’s popularity grows.
Chainlink may achieve greater things in the future. What remains is for the team to put in the work and deliver top-notch services.
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Sal Miah is the senior editor at Blockspectator News and is a regular contributor to a variety of cryptocurrency news websites and projects. He has written hundreds of articles on numerous topics related to blockchain and also has a special interest in financial markets. Contact him directly at firstname.lastname@example.org