The alt-right playground cum anonymous crypto shill zone 4chan /biz is falling over itself as usual thanks to a seemingly out-of-nowhere pump in the price of the LINK token. The Ethereum-based Chainlink (LINK) project's goal is to make it easier for real-world data to interact with blockchain-based Ethereum (ETH) smart contracts. Developer advocate for Google Cloud, Allen Day, penned a blog post on June 14, 2019 in which he announced a partnership between Google and LINK for "placing BigQuery data available on-chain using a Chainlink oracle smart contract."
Understandably, given the size of the partner, 4chan exploded on the news. The users, known as "anons" due to the ability to create truly anonymous accounts for comment, celebrated with meme after meme:
I don't know what's going on with this gothic work of art. Plus, I don't think LINK works on Ravencoin (RVN), but hey you gotta love this board's enthusiasm for their favorite coin. This next one is pretty much self-explanatory: LINK MOON!
4chan /biz has worked tirelessly for months trying to promote this thing. Today, they finally have their sweet, sweet vindication. Almost a double in 45 minutes! And that's on top of a 5X performance from the depths of crypto winter.
Chainlink is legit tech. One of the biggest problems with blockchain is that each one runs the risk of creating its own little silo of data. That's why projects like AION, WAN, ATOM and my own company DARC put such a huge emphasis on interoperability. But that's a concept that refers only to sharing data between chains.
LINK brings the real world to the blockchain, which is obviously one of the most critical use cases for blockchain technology that there ever could be. Google's BigQuery is a fast, highly-scalable, cost-effective, and fully managed enterprise data warehouse for large-scale analytics for all basic SQL users. You can't get more real world than that! The partnership absolutely justifies the hype.
Here's how it would work, according to the Google blog post:
If you need any help, they've even provided documentation and a testnet. As blockchain partnerships go, this one is about as big as it gets.
There is only one problem: No one truly knows how to value a utility token yet! It's time to get set for a fun period of price discovery for LINK. But the infamous crypto volatility, and the psychological torture that goes with it, is bound to leave some LINK token holders looking like this meme regardless of LINK's price in the long term:
Trade with caution out there, everybody! And as always