Crusher of the Month – Chainlink – August 2018 - Crush Crypto

Crusher of the Month – Chainlink – August 2018

In the Crusher of the Month series, we will write about a coin/token that we have the most conviction in each month. The time frame will be around 1 month, or until we publish the next Crusher of the Month. In August 2018, our Crusher of the Month is Chainlink, ticker LINK.

Chainlink aims to provide a network of decentralized and tamper-proof blockchain middleware called Oracle.

Oracles allow blockchain to connect with outside, real world data so that smart contracts can be triggered by data feeds, such as financial asset prices, weather, location of goods, etc. With the help of oracles, the utility of smart contract is greatly expanded.

Chainlink went through an ICO in September 2017 and we have been supportive of the project since the beginning. Please refer to our report for an overview and deeper analysis of the project.

After the ICO, the team has been heads down focusing on the development of the project. However, we believe the project is ready to generate more market awareness which could have a positive impact to token price.


Why do we like it?

Speculation that mainnet launch is getting close

Chainlink is currently running the testnet on the Ethereum Ropsten testnet. The development progress can be tracked here.

The team previously stated in January 2018 that the mainnet launch would coincide with the hiring of a Director of Marketing and improvement in communication with the general cryptocurrency community.

In Chainlink’s website, we can see that the team has hired a Director of Marketing. Therefore, assuming that the message in January still holds true, the mainnet launch should be fairly soon.

Launching the Chainlink network on the Ethereum mainnet would mean that the product is ready to use in the real world and that LINK tokens would have actual utility. It would represent a significant milestone for the project. Generally, more mature projects have a higher valuation.

The project is ready for more publicity

Those who have been following the project know that the team is extremely low profile, even during the pre-ICO phase.

Other than providing update to its technical and business development progress, the team hadn’t done any marketing at all since the beginning of the project. However, there are signs that marketing activity is starting to pick up:

  • The team announced on July 24, 2018 that the project’s new website is live
  • The team is starting to announce business partnerships. They have only tweeted 8 times since inception, 2 of which were announcements of partnerships within the last week (with Accord and OpenLaw).

With the team being more open in disclosing the partnerships that the project has entered into, we believe that they will continue the trend leading to the launch of mainnet to drive the awareness of the project as well as usage of the network.

LINK token is the 60th most valuation cryptocurrency even without any marketing done by the team, which is very rare in this space. We believe the project has substantial potential when the team is more proactive in its communication after the project comes out of the development phase.

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