Diving into Defi - ChainlinksteemCreated with Sketch.

in WhereIN4 years ago

I have missed the whole defi craze bandwagon which happened recently until so many youtubers keep repeating the same topic -defi, which I found always came along with many favourite delicious food like sushi, burger , salmon.

When I tried to find out more from internet about the new terminology eg yield farming, uniswap, sushiswap , wrap-bitcoin . That's the time I realised I already missed the first wave of the hot topic in crypto world this year. I only get the impact of the heat-- super high ETH gas fee. Sob sob :(

A friend of mine shared with me also , that he get free airdrop from Uniswap , but what he put in also a small amount. There I realise I need to unlearn myself and absorb again new things in crypto world.

As more info I try to dig from internet, I do agree with some authors /youtubers that in order for Defi to be continued to success in future, some form of interlink/ interoperate between the crypto world and real world data need to be established to form something like big data and work out the usability for extra feature to be incorporate in Defi.

Thus , Chainlink caught my attention and fortunately (or unfortunate for its investors?) , Chainlink price had dipped halved to its All Time High.

As I have already missed the bandwagon of first wave Defi heat, I think should not be missing out again the next wave where Defi will here to stay in crypto world.

chainlink.JPG
Source: https://www.coingecko.com/en/coins/link

I also get to know chainlink competitor in the space is Band Protocol (BAND),

Band.JPG
Source: https://www.coingecko.com/en/coins/band-protocol

After doing bit more study and research around, I still think Chainlink seems to me a better bet of choice as I do not have tons of idle cash around to invest, I think ETH will still dominate in Defi for sometime before many dump it due to high gas fee.

Band , on the other hand , which is more interoperative as compared to Link into different network . To my humble thinking, will be more superior than Link, when other networks eg Cardano or Tezos able to develop a more advanced Defi-space to supersede Etherium, afterall these 2 network transfer fee is very affordable and reasonable as compared to ETH.

Time will tell if decision is correct, I chose not to stay put and watch the wave coming and regret afterward. Wish me luck !

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I tweeted @steemitblog

Screenshot_2020-10-06-22-42-51-47_e4424258c8b8649f6e67d283a50a2cbc.jpg

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