What is your next 100x gem in Crypto ?
I'm a bit concerned about writing this post. Then again for most people, Crypto is all about gains.
I’m not hungry for money. Compared to several years ago, when I had less money, I still have the same life. It’s a rich life.
Money can solve the money problems and give people more freedom.
Before I continue, I must claim my writing is not financial advice, and please always do your own research. Recently wrote a post asking should I buy $SHIB? and It's my FOMO missing the million percent gain. Luckily because I have improved my emotional intelligence recently, I could make a good decision and continue to think long term.
Bitcoin, ETH, BNB, XRP, SHIB, DOGE, AAVE, and so many coins are proof that you only need to be right once to get rich in crypto in the long term.
When investing remember:
You only have to be right ONCE.
You only need to get rich once.
I will try to answer my own question. Hopefully, in the coming days, I could research more about 100X gems. Today I will stick with only one.
Chainlink ($LINK)
It's currently sitting at just over $32. Can LINK reach $3000 before 2025? In my opinion, there is a possibility of reaching at least $1000 that's 33X from today's price. Also, I must note ChainLink would have to reach a one trillion dollar market cap to reach $1,000.
Chainlink was created in September 2017, and was launched on the Ethereum Mainnet in May 2019. So LINK was born before ETH as smartcontract.com by Sergey Nazarov. Sergey has been building in the smart contract space before Ethereum was even created.
For decades, many technology experts believed that the oracle problem could never actually be solved. This is where Chainlink comes in. Chainlink solves this by being oracle network from the blockchain to the outside world.
This is similar to your computer connecting to the internet. Without an internet connection, your computer is fairly limited in it's usefulness and functionality. Chainlink's oracle network is the internet connection for the blockchain to the outside world. It connects any data input out there to the blockchain, whether that be data from the banks, an API, or some large database.
The price depends on the number of LINK staked in nodes and the supply/demand for LINK. Staking LINK improves node reputation and may be necessary for processing high-value data feeds. If a significant amount of LINK is staked in nodes, the supply is limited. If LINK is widely adopted, demand for LINK will be high. source
Chainlink is already helping Amazon AWS and it can also partner with FaceBook's META.
Chainlink Labs is thrilled to be working with AWS to give data providers, enterprises, and DevOps an easy-to-integrate node infrastructure, and we are also exploring further integrations with Amazon Managed Blockchain to streamline deployment and management of Chainlink nodes Source
Chainlink is an “Oracle Network”, which basically means a link between the real world and the blockchain world. Ethereum and other blockchains can’t communicate with the real world. Trying to get Ethereum to communicate with the real world is like trying to mix oil and water. And ChainLink has the solution. Chainlink is trying to do is to get integrated into other projects, and accumulate partnerships with different companies to make them able to link blockchain and real-world data.
I would recommend you to read the use cases of smart contracts coupled with Chainlink's oracles with Chainlink's blog called 77 Smart Contract use Cases Enabled By Chainlink.
Nothing like Chainlink has ever been created before, so if Chainlink becomes a global standard and ends up securing billions, trillions, or maybe even quadrillions of dollars of value in the future, the sky is quite literally the limit.
Chainlink has a huge ecosystem of partners and collaborators and becoming the global standard for oracle frameworks. Some of their main collaborations include Google, Oracle, SWIFT, and Amazon. Current list of partners and collaborators of ChainLink
Over to you: What is your next 100x gem in Crypto?
And Thank you for reading my little post.
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Thank you and I truly appreciate your support. I'm grateful to be part of our crypto, Hive, and LeoFinance community. Today is Day number 18 of my personal 365 days of writing challenge.
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