2020 is reportedly the year of blockchain oracles and for all the amazing reasons. One of the major reasons behind the growing developments in the oracle world is certainly the DeFi boom. DeFi applications built on smart contracts need real-world data feeds which smart contracts can’t access independently given blockchain restrictions. Oracles help to solve the problem here by connecting the on-chain world with off-chain data sources which further help to broaden the functionality of DeFi applications. Rising popularity of blockchain oracles has also amped up the market value for Oracle crypto Tokens big time. The current market capitalization (combined) of oracle crypto tokens today is poised to hit the $6 billion mark in near future.
So, what are the leading or most promising players in the current Oracle crypto token space?
LINK by Chainlink
Chainlink is hailed as the industry-leader in the contemporary world of decentralized oracles. Founded in 2017 by SmartContract, it is an open-source oracle and enjoys huge support from the wide blockchain community.
LINK is the native token of Chainlink and currently sits on the numero uno position on the list of top Oracle Tokens of 2020. At the time of writing (October 13, 2020) this article, the market cap of LINK is $3,871,684,929 while the price value is $11.06. It’s to stress here, LINK has shown an incredible
performance since last year, pumping up 600% over the past 12 months. The token has occupied listing in some of the most elite crypto exchanges today, including Binance, Kraken, Coinbase Pro and so on.
REP by Augur
Augur is another leading decentralized oracle founded by Forecast Foundation. It’s a P2P protocol designed especially for prediction markets where users receive rewards for winning predictions. REP is one of the two cryptocurrencies of Augur. It can be defined as a staking token which is deployed by reporters to settle disputes on prediction market outcomes. The current market cap of REP is $146,861,377 and the price value of the token is $13.35. REP is listed on a number of prominent exchanges such as Coinbase Pro, Kraken, BKEX and so on.
BAND by Band Protocol
BAND is the native token of famous decentralized oracle Band Protocol. Band Protocol is an open-source cross-chain oracle system and is compatible with several blockchains. It’s to note here, BAND is the fastest-growing crypto token of late and has witnessed a dramatic 6,000%+ rise in price since the early quarter of this year. In August 2020 only, the token grew up to 300 percent in just 7 days. As of now, the market cap of BAND is 140,755,217 USD while its current price is $6.87.
BAND is listed in a number of esteemed crypto exchanges like Binance, Coinbase Pro, WazirX and more.
BRG by Bridge Oracle
Bridge Oracle is one of the latest decentralized oracles that just had a super successful IEO on September 15, 2020. It’s a public oracle system which allows mass participation into blockchain and Bridge Oracle is the first ever dedicated oracle system for TRON blockchain. BRG is the native token of Bridge Oracle. The token has already garnered huge attention, the Bridge IEO got sold out in just a few hours of the launch. Users can use BRG to avail the services of Bridge oracle at a discounted fee. The current market cap of BRG is $95,206,182 while the token price is $ 0.011898. BRG token is listed in major exchanges like BW.com (which hosted the IEO too) and DigiFinex.com. It would soon be listed on several other leading exchanges in the coming couple of months.
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