The Chainlink price is unchanged on a weekly basis and is still in a months-long sideways phase, from which LINK simply could not break out recently. Here, too, there was a lack of impetus. The current phase still seems suitable for accumulation, but there is still a lack of momentum. Medium to long-term investors in particular should not ignore the fact that the development and adoption of Chainlink is progressing despite the overall bearish market. Now there is a successful test at Swift – the large payment network – with the new Chainlink Cross-Chain Interoperability Protocol (CCIP).
Swift relies on blockchain – Chainlink popular
SWIFT stands for Society for Worldwide Interbank Financial Telecommunication. It is a global network that connects financial institutions and allows financial transactions to be exchanged securely and quickly. SWIFT is now the standard for international transfers and is used by over 10,000 financial institutions worldwide.
It is nothing new that SWIFT is experimenting with blockchain technology. The organization has already conducted various pilot projects and studies in the past to explore the potential of blockchain for the financial sector. The aim is to make transactions more efficient, more secure and less expensive.
SWIFT has launched a new project in cooperation with major financial institutions such as BNP Paribas, BNY Mellon and Citi to test the tokenized transfer of assets. The Chainlink Cross-Chain Interoperability Protocol (CCIP) was used, which only went live on the mainnet in mid-July. This protocol made it possible to connect to the Ethereum Sepolia Network. Chainlink has the stated goal of setting the standard for interoperability in the crypto space, and this project shows how its technology can be applied in practice. Because tokens have to be moved quickly and easily between the blockchains if the real adoption is to succeed.
This is in line with Swift’s claim – synergies seem possible here:
“Interoperability is at the heart of everything we do at Swift to facilitate the seamless flow of value around the world in the face of increasing fragmentation. For tokenization to reach its potential, institutions must be able to seamlessly connect to the entire financial ecosystem. Our experiments clearly demonstrated that the existing secure and trusted Swift infrastructure can provide this central point of connectivity, removing a major hurdle for tokenization development and unlocking its potential.”
Chainlink – real benefit in the foreground
Chainlink (LINK) is one of the cryptocurrencies with the strongest real utility and profound utility in the crypto ecosystem. First and foremost, Chainlink serves as a decentralized oracle network that connects smart contracts on the blockchain with real data from the outside world. This solves a fundamental problem for blockchain technologies, namely the ability to securely and reliably access external data without sacrificing the benefits of decentralization.
The use cases for Chainlink are diverse. By providing accurate and trusted data, Chainlink enables more complex and efficient smart contracts, making blockchain technology accessible to a wider range of applications. With the new standard, Chainlink is aiming for interoperability as the next big challenge in the crypto world.
Additionally, Chainlink has partnered with numerous large corporations and blockchain projects to boost relevance. Chainlink’s strong utility makes LINK a promising cryptocurrency in the market.
Web3 Alternative: Launchpad XYZ is pursuing this ambitious vision
Due to the Web3’s still tentative adoption, an all-in-one platform with multifunctional features could be particularly attractive for both beginners and advanced users. Such a platform could make it easier to get started in the Web3 world by offering a user-friendly interface and a set of tools. For more advanced users, the ability to bundle different features and services in one place would be a significant benefit, saving time and resources.
This is exactly the goal that Launchpad XYZ is currently pursuing and would like to build a versatile platform that already relies on an AI chatbot for onboarding. Then it goes from the wallet to DEX, NFT marketplaces and trading platforms to Metaverse and Play-2-Earn-Games. The common thread is the goal of opening up the potential of Web3 to traders, investors and users and creating more lucrative opportunities.
The LPX Presale – the platform’s native token – has already raised over $1.5 million. A bonus of 19% currently makes early investment even more attractive. Anyone interested in Web3 could use the quiet market phase in September to take a closer look at Launchpad XYZ.
Learn more about Launchpad XYZ
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