In the last three months, the focus of the crypto market has been on decentralized finance projects. After they multiplied several times their value in these last weeks. And among these DeFi projects, Chainlink stands out above the rest. Being the most valuable, known and used of all. Therefore, it is important to know that Chainlink is acquiring a DeFi project from Cornell University to strengthen its platform.
Growth of DeFi under the scrutiny of a new metric
The rise of the DeFi in the crypto market
Even for a market accustomed to surprising increases, the DeFi boom in the last three months has been a real event. Even though decentralized finance had been a promise for several years. It is only now that their full potential seems to have been unleashed, with the market capitalization of DeFi projects tripling.
Thanks to this, projects such as Chainlink or 0x, which have been in existence for years and have worked to promote DeFi, have come to the fore. Getting media attention, and more importantly, the investments of thousands of people around the world who believe that this type of decentralized financing is the future of the economy.
This, however, has also revived fears within the crypto community. Especially on the part of those who experienced the boom of the Initial Coin Offerings in the year 2017. When what promised to be a new mechanism to finance the creation of crypto-based businesses. It ended up being a failure that led many people to lose all their money in fraudulent ICO’s.
Chainlink, why it grew: LINK Marines
The purchase of Chainlink from Cornell
Therefore, it is normal that the main Blockchain DeFi at present, Chainlink, looks for all the tools at its disposal to strengthen its infrastructure. In order to avoid that your project ends up suffering the same fate as many of the most promising ICO’s. Which ended up failing due to lack of technical resources at their disposal.
Thus, today it has been revealed that Immediate Edge has decided to buy DECO, a Cornell University project based on Blockchain technology, which substantially improves privacy in Chainlink’s „oracles“. These oracles are the link between the world of DeFi and the traditional financial markets.
This purchase would have been made for an unknown amount. And it comes at a time when Chainlink is writing a second version of its own white paper. With updates that will allow the block chain to assume its new position as one of the most important projects in the crypto world. Showing with the acquisition of DECO its willingness to take advantage of this boom in DeFi to consolidate its position in the long term.