Which project will become a worthy competitor of Chainlink?

[KryptoBull]

Chainlink has become famous in the crypto market as the leading project in the oracle trend - an indispensable area for DeFi and RWA. Chainlink's development did not slow down during the crypto winter, in fact, we can consider the crypto winter as the time when Chainlink is best developed, with more partners and more useful solutions for the crypto market. Many investors consider Chainlink to be the 3rd most valuable project in the crypto market, after only Bitcoin and Ethereum.

In terms of development, Chainlink's developer community leads in activity. Over the past month, Chainlink boasted an average of 451.23 GitHub events, encompassing activities like code updates, issue raising, and improvement suggestions. This focus on development is a positive sign, indicating Chainlink's commitment to long-term growth ^[1].

In addition to oracle solutions, Chainlink is experimenting with the Cross-Chain Interoperability Protocol (CCIP) and promises to become a major competitor to other cross-chain solutions currently available ^[2]. I don't really understand the potential of CCIP, but I think Cosmos and Polkadot need to be careful because their Hub and Parachains solutions may not really be superior to CCIP.

However, I am not really interested in the development of Chainlink, I am waiting for a competitor that can compete fiercely with Chainlink this season. In the previous season, Chainlink led the oracle trend and no project could compete, other oracle projects such as Band, DIA, API3 did not have as many customers as Chainlink did ^[3]. A few months ago, Tellor was noticed thanks to the price increase of TRB token, but the pump-dump did not bring value to Tellor. For now, I am looking forward to Pyth, a new oracle that already has many customers and provides quite efficient oracle services ^[4]. Similarly, I hope that Cosmos, Polkadot, LayerZero and ZetaChain can compete with Chainlink in the cross-chain field ^[5].

Competition will create pressure for the development of all projects in the same field, resulting in users and the market receiving the best, safest, most effective, and lowest cost solutions. I don't like monopolies in any field, I support Chainlink but I also want Chainlink to continuously compete and develop.

I want to know your opinion about Chainlink:

• Will Chainlink continue to be a giant in the crypto market during this uptrend?
• Which project can compete with Chainlink in the oracle field?
• Which project can compete with Chainlink in the cross-chain field?

References:
[1] Chainlink Dominates Crypto Landscape with Unparalleled Development Activity
[2] Cross-chain by Chainlink
[3] Decentralized Oracles
[4] Pyth: Smarter Data for Smarter Contracts
[5] Research: Cross-Chain Interoperability
Note:

• My opinion has been presented in a topic, on BitcoinTalk forum.
• This topic on AltcoinsTalks forum has included a minor change in the way my opinion is presented.
• This statement is to avoid accusations of plagiarism.

[MrSpasybo]

Competition will create pressure for the development of all projects in the same field, resulting in users and the market receiving the best, safest, most effective, and lowest cost solutions. I don't like monopolies in any field, I support Chainlink but I also want Chainlink to continuously compete and develop.

I want to know your opinion about Chainlink:

• Will Chainlink continue to be a giant in the crypto market during this uptrend?
• Which project can compete with Chainlink in the oracle field?
• Which project can compete with Chainlink in the cross-chain field?

I also missed the opportunity with LINK in the 2020 cycle, it was quite a pity because this is one of the projects with a product that is really useful for the crypto market, and the LINK token price also increased extremely strongly, bringing great profits to LINK investors since 2018. This time I think LINK will also come back and create a new ATH but it is difficult to have an impressive price increase performance as in the 2020 cycle. I hope that new projects in the oracle sector will have the opportunity to rise up and attract more customers, helping the oracle market to be more decentralized.

1. I believe that Chainlink will continue to be a giant in this cycle thanks to its oracle-related products for DeFi + RWA and CCIP in the cross-chain sector.

2. In the oracle sector, I also hope that Pyth and Tellor can compete with Chainlink, they both have good solutions and strong communities.

3. In the cross-chain sector, I have high expectations for Cosmos and Polkadot with technology that has been developed and verified in the 2020 cycle. New projects also have quite a lot of potential but do not have a large ecosystem yet.

[Trongduy]

I also missed the opportunity with LINK in the 2020 cycle, it was quite a pity because this is one of the projects with a product that is really useful for the crypto market, and the LINK token price also increased extremely strongly, bringing great profits to LINK investors since 2018. This time I think LINK will also come back and create a new ATH but it is difficult to have an impressive price increase performance as in the 2020 cycle. I hope that new projects in the oracle sector will have the opportunity to rise up and attract more customers, helping the oracle market to be more decentralized.

I also didn't invest in LINK in 2020 even though Chainlink was introduced and analyzed very carefully by many KOLs throughout the crypto winter of 2018-2019. It was unbelievable that LINK price recovered quickly and reached such a high price in the 2021 uptrend. Although it did not have a new high in November 2021 like many other tokens, the profit that LINK brought to holders was already too great. Currently, LINK has also brought 3-4x profit to those who bought LINK in 2023.

[Trongduy]

• Will Chainlink continue to be a giant in the crypto market during this uptrend?
• Which project can compete with Chainlink in the oracle field?
• Which project can compete with Chainlink in the cross-chain field?

1. Chainlink is too big and important for the crypto market already. It will continue to lead major trends like oracle and cross-chain this season. I don't think other projects can surpass Chainlink.

2. I'm also following Pyth, but other oracles like Tellor can also outperform Chainlink in terms of price performance. TRB has already reached a new ATH while LINK has not yet been able to do so.

3. I think ChainLink is just a new project in the cross-chain field. It cannot be compared to cross-chain focused projects like Cosmos and Polkadot.

[KryptoBull]

Competition will create pressure for the development of all projects in the same field, resulting in users and the market receiving the best, safest, most effective, and lowest cost solutions. I don't like monopolies in any field, I support Chainlink but I also want Chainlink to continuously compete and develop.

I want to know your opinion about Chainlink:

• Will Chainlink continue to be a giant in the crypto market during this uptrend?
• Which project can compete with Chainlink in the oracle field?
• Which project can compete with Chainlink in the cross-chain field?

I also missed the opportunity with LINK in the 2020 cycle, it was quite a pity because this is one of the projects with a product that is really useful for the crypto market, and the LINK token price also increased extremely strongly, bringing great profits to LINK investors since 2018. This time I think LINK will also come back and create a new ATH but it is difficult to have an impressive price increase performance as in the 2020 cycle. I hope that new projects in the oracle sector will have the opportunity to rise up and attract more customers, helping the oracle market to be more decentralized.

The potential of LINK is undeniable. Although the revenue from oracle is not significant compared to LINK's market capitalization, it is still an indispensable part of the market. New projects will also tend to choose Chainlink and other oracles, rather than ignoring Chainlink to trust other oracles with less decentralization and weaker tokenomics.

Currently, I just want to follow up and see if LINK can be as successful as ETH in the past. They are different in terms of goals, but the community is also really big and sees the project as a big religion: irreplaceable, no need to doubt, invest with a very long-term vision.