.BankofAmerica says Chainlink could accelerate the adoption of next-generation blockchain use across finance, insurance, supply chain, gaming and gambling. By willcanny99
People walking past a Bank of America billboard
The blockchain’s market-leading decentralized oracle network has seen major adoption. Chainlink is the likely driver behind the growth of decentralized finance’s total value locked to $203 billion as of Feb. 15, a gain of 313% year-on-year, analysts led by Alkesh Shah wrote in the note on Wednesday.is an umbrella term used for lending, trading and other financial activities carried out on a blockchain, without needing to use traditional middlemen.
As of Feb. 15, Chainlink oracles secured more than $60 billion deposits into smart contracts, up from $7 billion at the end of 2020, the bank said. Bank of America noted that over 1,100 projects leverage Chainlink’s network, and companies including the Associated Press, AccuWeather, Sportmonks and 800 others have launched oracle nodes to monetize their data.
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