Decentralized Oracles For DeFi - The Next Big Thing In Crypto! by syedumair

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hive-175254 · @syedumair · Aug 7 '20

$13.08

Decentralized Oracles For DeFi - The Next Big Thing In Crypto!

I am sure that all the people who are in crypto will be aware of ChainLink. It has been the best performing asset in the bear market and it continues to thrive. It has been hitting all-time highs day after day and it shows no sign of cool off. ChainLink is almost at a market cap of $400 billion with each Link costing $10.
<center>![0_Oi4WQ_96Fo8YFV6L.png](https://files.steempeak.com/file/steempeak/syedumair/k0PwY7eR-0_Oi4WQ_96Fo8YFV6L.png)
[Source](https://chain.link)</center>
What most people don't know about ChainLink is the tech behind it. ChainLink provides data from the real world to the blockchains with the help of oracles. ChainLink connects the outside world with blockchains in away. ChainLink is obviously the king of decentralized oracles but there are some new players in the market that have seen huge growth over the past week or so.

#### BAND Protocol
Band is the most popular decentralized oracle for Defi having a market cap of around $150 million. Now, this market cap is tiny when compared to ChainLink. There is still huge room for growth. Band is actually a first Binance IEO to be listed on Coinbase. It is on fire right now and probably will cool off and then continue its run upwards.

#### Tellor

Teller is relatively older than Band and has been around since October last year. I have seen a few people mention this project but it never really took off until recently. It reached its all-time high of $22.10 just a few hours ago. It is not listed on tier 1 exchanges yet and once it gets listed, the prices might skyrocket. It has a market cap of just $28 million meaning the room for growth is huge.

#### DOS Network

DOS Network has been around for more than a year but nobody had heard of DOS until recently. This past month has been excellent for DOS as it has risen 30 times in value in the last 30 days. It is still in an uptrend and shows no signs of coming down. This decentralized oracle for Defi comes with a market cap of $27 million just behind Tellor.

#### DIA

DIA is my favorite project after ChainLink as it just came out recently and has a much lower market cap of just $18 million. DIA just hit the market yesterday and since then it has done almost 3x at price. To be honest, I have been waiting for this thing to correct a hit so that I can buy it but I haven't been able to do so just because it shows no signs of cool off.

I know of these five decentralized oracles for Defi and all of them have recently hit all-time highs. This niche is on a rise right now and we might see more gains over the next few months. Right now this niche is super hot everything related to decentralized oracles for Defi is rising in value. We have seen in the paoraclet similar projects can coexist, therefore, I believe that more decentralized orcale based projects will keep popping up.

***This is not financial advice. These are personal thoughts and they are meant for information purposes only.DYOR before investing.***

## Download [Brave](https://brave.com/sye093) and start earning BAT.

👍 therising, ph-support, innerhive, tribesteemup, eric818, magicmonk, gungunkrishu, visionaer3003, votebetting, syedumair, munawar1235, unbanned, cryptopie, lugina, crypto.piotr, digital.mine, chorock, created, ezzy, exyle, mauromar, gerber, happy-soul, zartisht, mariusfebruary, livingfree, solarwarrior, chesatochi, costanza, someguy123, dcityrewards, ph-fund, huaren.news, quochuy, hivecur, kamchore, steem.leo, netaterra, emrebeyler, ritxi, samminator, nealmcspadden, rakison2, agromeror, purefood, horpey, dfacademy, engrave, sujitsawant, dlike, gitplait, bala41288, churdtzu, alvinauh, jerrybanfield, accelerator, hf19, nainaztengra, syedubair, justineh, tfame3865, artistsrising, gandhibaba, whatamidoing, and 164 others
👎 tutasteem, dein-problem

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tutasteem	-396,682,916	-100%
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alchemage	2,854,111,733	18%
bert0	2,000,614,141	0.4%
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mckeever	602,344,038	35%
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haileyscomet	606,888,282	20%
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eric818	1,324,456,617,633	94%
whatamidoing	34,334,945,315	4%
papadimos	1,308,906,196	10%
khussan	570,296,163	27%
jagged	32,607,144,729	23.5%
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samminator	89,635,109,255	65.8%
antimedia	747,832,602	5%
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whd	13,416,507,974	10%
d-pend	27,401,886,899	1%
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bryandivisions	3,124,729,448	11%
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yogacoach	2,295,424,507	2.5%
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taskmaster4450	31,910,202,642	1.25%
roleerob	3,740,071,676	0.5%
deathwing	5,478,746,630	5%
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ecotrain	8,653,573,123	0.5%
dinglehopper	748,082,031	1.25%
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vishalsingh4997	2,694,005,585	47%
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alvinauh	50,836,303,247	47%
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dmwh	2,778,328,193	2.5%
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krishool	10,660,477,986	35%
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eaglespirit	10,103,969,028	5%
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moxieme	1,313,660,822	20%
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bala41288	56,783,113,200	20%
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chronocrypto	12,550,506,777	5%
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moeenali	2,004,675,028	1%
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hempress	919,789,251	11%
pkocjan	2,239,479,579	4%
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llfarms	1,018,244,502	5%
yurilaya	2,189,593,582	47%
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idkpdx	347,221,885	2.5%
retinox	2,689,860,543	13.13%
josevas217	663,321,740	0.32%
beleg	4,600,370,281	10%
bestboom	20,499,932,221	5%
abrockman	16,045,071,340	5%
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bobaphet	6,711,133,765	20%
therising	12,087,724,655,764	94%
quochuy	137,201,746,046	10.02%
mariusfebruary	276,278,496,768	47%
reinaldoverdu	16,953,849,119	100%
artemislives	11,261,105,422	5%
indigoocean	9,281,790,589	2.5%
glodniwiedzy	1,380,102,626	4.75%
ritxi	93,535,752,060	47%
crypto.piotr	622,913,382,829	27%
archisteem	2,542,746,634	7.5%
solarwarrior	259,914,978,239	20%
digital.mine	612,475,027,021	24.37%
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joelsegovia	27,827,760,632	50%
mannacurrency	988,961,525	0.5%
karamyog	2,851,648,810	94%
dalz	8,478,125,015	2.5%
rakison2	82,075,969,775	47%
julian2013	7,827,886,953	4.5%
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voxmortis	1,150,914,322	0.5%
engrave	67,337,300,250	4.75%
porters	9,995,502,205	20%
bobby.madagascar	2,021,045,177	1.25%
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agromeror	81,558,539,072	50%
alokkumar121	13,572,973,258	23.5%
truelovemom	29,490,764,460	50%
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ldp	740,018,940	5%
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gungunkrishu	1,103,209,071,189	100%
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followjohngalt	27,195,489,909	5%
vibesforlife	3,359,550,776	15%
dein-problem	0	-0.05%
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limka	0	3.5%
dfacademy	74,876,068,107	100%
bewithbreath	934,440,351	2.5%
ninjacyber	1,677,782,628	30%
mfblack	4,974,917,818	4.75%
steelborne	2,666,750,289	20%
muhammad-wali	537,233,818	50%
sm-silva	537,904,427	2.5%
haxxdump	21,679,261	10%
justineh	42,671,476,644	5%
haleakala	5,055,991,357	4%
roadofrich	759,946,044	94%
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steem.leo	120,536,429,987	5%
mindtrap-leo	0	1.24%
ror.pay	5,141,790,359	94%
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ubair	546,341,465	100%
freddio.sport	3,801,018,460	15%
co2admin	1,720,181,315	13.13%
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psycultureradio	2,158,479,676	3.9%
one.life	519,368,696	4.99%
maxuvd	20,499,215,671	6%
deflacion	1,012,103,207	9.9%
build-it	874,338,632	0.4%
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tonimontana.leo	8,323,000	1.25%
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jgb	2,658,853,800	23.5%
rus-lifestyle	541,934,769	100%
snowboy	1,121,463,651	100%
hope.venezuela	1,491,737,368	94%
ribary	1,618,726,714	2.5%
awah	16,493,450,975	47%
mice-k	21,636,525,037	5%
steemcityrewards	475,709,376	5%
dpend.active	1,535,489,672	1%
innerhive	1,966,507,830,995	5%
luckyali	5,083,176,115	75.2%
hiveyoda	7,721,834,720	2%
abundance.tribe	20,527,504,866	5%
visionaer3003	1,058,509,506,011	50%
gitplait	59,570,194,174	100%
polish.hive	13,209,301,267	5%
mynima	2,822,158,267	94%
alexbalan	2,533,933,991	100%
dcityrewards	159,158,664,842	5%
hf19	44,747,232,221	100%
hivelist	4,203,819,889	2.5%
unbanned	694,281,820,981	24.37%
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ph-support	2,007,617,562,567	51%
hivecur	124,055,614,961	5%
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zartisht	348,865,609,256	100%
chartreader	231,515,038	5%
neverpowerdown	3,824,975,154	100%
arenacrypto	6,856,831,694	47%

@alexbalan · Aug 8 '20

I wanted to invest in band, mainly for the high st...

I wanted to invest in band, mainly for the high staking rewards, but it just boomed in price recently so I need to look into this investment again. Do you own any BAND? What's your opinion on it?

 Posted using [Dapplr](https://app.dapplr.in/8UE9wvNyNfemMtbKA)

properties (22)

@syedumair · Aug 11 '20

Yes, I do have some Band but I will prefer ChainLink over band anytime. 
Right now might not be a good idea to but Band. Wait for the cool off.

👍 alexbalan

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@alexbalan · Aug 11 '20

It already started to go down as we speak

It already started to go down as we speak

 Posted using [Dapplr](https://app.dapplr.in/zVrUc6AR7E83BGa97)

properties (22)

@gitplait · Aug 8 '20

Upvoted by GITPLAIT!

We have a curation trial on Hive.vote. you can earn a passive income by delegating to [@gitplait](https://hive.vote/dash.php?i=15&id=1&user=gitplait)
We share 80 % of the curation rewards with the delegators.
___

_To delegate, use the links or adjust_ [10HIVE](https://hivesigner.com/sign/delegateVestingShares?delegator=&delegatee=gitplait&vesting_shares=10%20HP), [20HIVE](https://hivesigner.com/sign/delegateVestingShares?delegator=&delegatee=gitplait&vesting_shares=20%20HP), [50HIVE](https://hivesigner.com/sign/delegateVestingShares?delegator=&delegatee=gitplait&vesting_shares=50%20HP), [100HIVE](https://hivesigner.com/sign/delegateVestingShares?delegator=&delegatee=gitplait&vesting_shares=100%20HP),   [200HIVE](https://hivesigner.com/sign/delegateVestingShares?delegator=&delegatee=gitplait&vesting_shares=200%20HP), [500HIVE](https://hivesigner.com/sign/delegateVestingShares?delegator=&delegatee=gitplait&vesting_shares=500%20HP), [1,000HIVE](https://hivesigner.com/sign/delegateVestingShares?delegator=&delegatee=gitplait&vesting_shares=1000%20HP), [10,000HIVE](https://hivesigner.com/sign/delegateVestingShares?delegator=&delegatee=gitplait&vesting_shares=10000%20HP), [100,000HIVE](https://hivesigner.com/sign/delegateVestingShares?delegator=&delegatee=gitplait&vesting_shares=100000%20HP)

___

Join the [Community](https://hive.blog/trending/hive-103590) and chat with us on [Discord](https://discord.gg/CWCj3rw)  let’s solve problems & build together.

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@hivebuzz · Aug 7 '20

Congratulations @syedumair! You have completed the following achievement on the Hive blockchain and have been rewarded with new badge(s) :

<table><tr><td><img src="https://images.hive.blog/60x70/http://hivebuzz.me/@syedumair/upvotes.png?202008060810"></td><td>You distributed more than 52000 upvotes. Your next target is to reach 53000 upvotes.</td></tr>
<tr><td><img src="https://images.hive.blog/60x70/http://hivebuzz.me/@syedumair/comments.png?202008070556"></td><td>You made more than 3500 comments. Your next target is to reach 4000 comments.</td></tr>
</table>

<sub>_You can view [your badges on your board](https://hivebuzz.me/@syedumair) And compare to others on the [Ranking](https://hivebuzz.me/ranking)_</sub>
<sub>_If you no longer want to receive notifications, reply to this comment with the word_ `STOP`</sub>



**Do not miss the last post from @hivebuzz:**
<table><tr><td><a href="/hivebuzz/@hivebuzz/pudresponse"><img src="https://images.hive.blog/64x128/https://i.imgur.com/805FIIt.jpg"></a></td><td><a href="/hivebuzz/@hivebuzz/pudresponse">Feedback from the last Hive Power Up Day</a></td></tr></table>

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