Map Node

In its December 19 Q4 product update, Chainlink announced a series of strategic initiatives to bridge the gap between traditional finance (TradFi) and blockchain technology. <img src="https://academy-public.coinmarketcap.com/srd-optimized-uploads/62167d54893c449696e282b1615cd831.jpg" />The crypto oracle provider has revealed its plan to support the virtual tokenization of Real World Assets (RWAs) on the blockchain, marking a significant step in integrating digital and traditional asset markets.Chainlink Expands with CCIP and New Data StreamsInitially launched in July, one of the key elements of Chainlink’s strategy is the expansion of the Cross Chain Interoperability Protocol (CCIP). This protocol has been pivotal in enabling seamless cross-chain transactions, a necessity for integrating capital markets and RWAs into the blockchain.“We will heavily prioritize CCIP to meet the demand fueled by capital markets moving on-chain,” said Chainlink ambassador “ChainLinkGod.”The expansion of CCIP will include more chains and assets, scaling its adoption in capital markets and RWAs. Chainlink has also introduced Chainlink Data Streams and Chainlink Functions.Data Streams offer low-latency data to decentralized applications (dApps), boosting their performance and reliability. On the other hand, Chainlink Functions allow smart contracts to connect to any API, thus enhancing their utility and customizability.In addition to these new products, Chainlink is enhancing its existing services by providing integrated automation across chains for more efficient smart contract execution and a more modular network to synergize with other Chainlink services.Chainlink Enhances Transparency, Focuses on Developer ExpansionChainlink has also prioritized the development of proof of reserve products in collaboration with asset issuers, custodians, and auditors.This collaborative effort aims to enhance transparency in valuing underlying assets and validating collateral baskets that support tokenized RWAs, which ultimately play a crucial role in establishing trust among institutional participants and investors.Recognizing the importance of a strong developer community, Chainlink intends to expand its global developer base, focusing on onboarding Web2 developers.By placing a strong emphasis on the Asia-Pacific (APAC) and Latin America (LATAM) regions, Chainlink showcases its steadfast dedication to nurturing an inclusive blockchain ecosystem on a global level.Despite these advancements, Chainlink’s native token, LINK, has experienced volatility. After reaching a 19-month high of $17.25 on December 9, 2023, LINK’s price has fallen back to $15.14, according to CoinGecko data.Despite this, LINK remains one of the better-performing altcoins, with the potential for significant movement in the bull market.The post Chainlink Sets Focus on Real-World Asset Tokenization in 2024 appeared first on CryptoPotato.<a href="https://www.binance.com/vi/feed/hashtag/Chainlink" rel="noopener noreferrer nofollow">#Chainlink</a>

Chainlink Sets Focus on Real-World Asset Tokenization in 2024

Map Node

Other articles published on Dec 23, 2023

Shiba Inu's Upward Trend Continues And Struggles With The $0.00001100 Barrier

BitMEX Founder Warns of Bitcoin’s Demise with TradFi TF Success!

Crypto Price Prediction For December 23: ETH, NEAR, SEI

Bulgaria closes investigation into Nexo citing no criminal activity

Bitcoin Spot ETF is on Horizon: Here is the Best Trade Set-Up for the BTC Price

Ethereum’s Future Remains Bright Despite Recent Underperformance

Join our free newsletter for daily crypto updates!