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Chainlink Hits Trifecta with SKALE Integration

Chainlink continues to make waves in the cryptocurrency space, following another partnership with a crypto project.  SKALE Network partnered with Chainlink in order to utilize its oracle solutions. Through this partnership, SKALE will be able to ensure quick and secure launches of new products and applications.  SKALE Benefits from Chainlink Oracle Solutions SKALE looks to … Continued

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Chainlink continues being integrated into other blockchain projects. This time SKALE Network has integrated its oracle solutions to offer more value to the elastic blockchain project.

Chainlink continues to make waves in the cryptocurrency space, following another partnership with a crypto project. 

SKALE Network partnered with Chainlink in order to utilize its oracle solutions. Through this partnership, SKALE will be able to ensure quick and secure launches of new products and applications. 

SKALE looks to speed up applications and boost security through the use of Chainlink’s tried and tested oracle solutions. The company will also be looking to take advantage of it’s price feeds. Using independent secure oracles for monitoring the prices of an array of assets via off-chain data aggregators will ensure the data is accurate and available.  

The price feeds will benefit SKALE in the use of DeFi implementation projects. However SKALE will also be making use of the Verifiable Random Function (VRF). 

VRF gives SKALE the opportunity to develop blockchain gaming solutions that offer unbiased selection, and fair selection for lottery winners. 

Chainlink’s Proof of Reserve (PoR) will offer an on-chain monitoring solution of backed reserves. With PoR, SKALE will be able to monitor cross-chain assets bridged to or from SKALE. These will include tokenized assets that have off-chain reserves. 

The partnership with SKALE stems from a Chainlink grant award. EU-based Experienced Blockchain API Provider Vulcan Link made it possible to integrate the technology Chainlink offers to grow the SKALE Network. 

Integration Continues to Grow 

The recent integration with SKALE Network is one of several announcements this week related to Chainlink. For example, the popular oracle project also integrated its tech with Warp Finance this week. Warp Finance announced that it would be making use of Chainlink’s price feeds as a security feature. This comes after an $8 million flash loan hack related to the generic price feeds used by the DeFi project.

Prophet Finance also announced it would be utilizing the company’s Verifiable Random Function (VRF). In this case, VRF will be used to run the project’s internal lottery system in a fair and random manner. 

Chainlink continues proving to be an important project within the cryptocurrency space. This is reflected in its price, which hit an all-time high of $25.47 on Jan. 23. The ATH for LINK was likely expected, considering the wide array of partners the project has integrated with. The price for LINK climbed 129% in 2021 alone, from $11 on Jan. 1. 

The new LINK high comes as no surprise. After all, it occurred just days after speculation that Grayscale Investments could be looking into starting a Chainlink Trust. 

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All the information contained on our website is published in good faith and for general information purposes only. Any action the reader takes upon the information found on our website is strictly at their own risk.

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Ryan is a Fintech specialist with a passion for cryptocurrencies and blockchain adoption. He discovered Bitcoin in 2016 when investing in a Ponzi scheme, and it was the best decision he ever made.

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Source: https://beincrypto.com/chainlink-hits-trifecta-with-skale-integration/

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How to Earn on Crypto you’re Hodling in 2021

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How to Earn on Crypto you’re Hodling in 2021

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Everyone in the world likes money and even better if you can earn with the money you already have. There has been a sharp rise in crypto price points in recent months so if you’re one of the many die-hard holders out there you are probably wondering how you can get a return from the holdings you already have. Thankfully as the industry has evolved so has the ability for investors to earn on their holdings of crypto assets. This article will talk about some of the ways you can try to make a return on investment for everything you currently have in your portfolio. Some of the earning ways are conventional and others require a little bit of work or substantial knowledge. Nevertheless here are some ways you can earn on your crypto portfolio. 

Staking is the process of actively holding a small to substantial amount of funds in a designated blockchain wallet in order to support a proof of stake (PoS) blockchain protocol. Essentially the investor locks funds into a particular wallet to support the staking process of the blockchain which they are staking on. As with anything in life an individual only does something if they feel they will gain benefit from it so when it comes to staking a stakeholder in the proof of stake blockchain will only lock in their stake if they are going to receive a reward. Many blockchain platforms out there offer proof of stake rewards to those staking crypto in locked wallets and you can earn a staking reward from doing so. When staking you often do not only earn an income from locking in funds but the staking also offers the holder the ability to vote on the blockchains protocol updates. Think of it similar to having voting rights from holding stock in a public company, you will have the right to a proportional vote to your stake on the future of the blockchain protocol. It’s relatively easy to find a company that allows you to stake your crypto and even the big guys like Coinbase offer staking features on their platform.

Peer to peer lending has become an increasingly popular topic in the modern fintech sector these days and the normal financial channels often translate over into the cryptocurrency world. Like with conventional peer to peer lending the way you earn money from the transaction is through interest on the lending of assets. Unlike conventional peer to peer products, the cryptocurrency world offers substantially higher interest returns than its fiat (government issued currency) counterpart. This is not always the case however, but as a general rule of thumb you are set to earn more with a crypto-based lending house.

One trusted example of a medium for lending is Nexo. Nexo offers credit lines to a borrower that are secured against crypto collateral. This collateralized method does away with the need for traditional credit checks since the crypto acts as the bridge of trust if and when the borrower is unable to pay. So you are always safe as a lender in that regard. Nexo clients who deposit funds in fiat or stablecoins can expect to earn returns of up to 12%, whereas clients who directly deposit crypto can earn interest of up to 10% of their holdings. Lenders who hold a minimum percentage of their portfolio in NEXO tokens, and choose to receive payouts in their token are eligible to receive higher returns than those who do not. 

If you are interested in mining for more crypto, another option is to hold shares in an active cryptocurrency mine. Mining is the backbone of the entire cryptocurrency ecosystem. So by investing into a mine you are not only using your crypto to make more crypto, but you are also supporting the entire blockchain community through mining activities. 

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Miners solve complex mathematical equations using graphics processors. Once the mathematical equation is solved, the block is validated and a reward is sent to the miner. Pylon Finance is said to have the largest active ETH mine in North America with return rates for investors of up to 250% per year. 

The easiest way of all to earn money from your crypto may be to deposit your funds into a platform that offers you an annual percentage yield (APY) on the money you hold on their platform. This is similar to depositing money into a savings account at a bank that gives you an annual percentage return on what you hold in your bank account. You can check out the different DeFi depositing options on DeFi Pulse and start earning on your holdings immediately. 

What is important to consider however is that depositing can only be done with crypto assets and altcoins and not fiat currency so this is only a valuable way to earn returns if you are insisting on earning on just your crypto holdings. 

In a similar fashion to earning from DeFi, many crypto exchanges offer earnings programs. These again are similar to depositing into bank accounts and earning interest with the key difference being that the interest earned is usually substantially higher than one would earn from a conventional bank account. That coupled with compounding interest and the gains in the crypto market in recent months makes this option very attractive. Companies such as Crypto.com offer interest on the major cryptocurrencies up to 8% and pay out interest on a weekly basis. Along with being paid weekly you also have your interest accrued daily so you know whatever you are holding is always earning you money, even if your portfolio fluctuates. 

Although it isn’t conventionally set to make you money, you can look to the slot machines and roulette table for extra returns. If you’re a rainman at blackjack, Fortunejack is the oldest Bitcoin casino in the world – so why not try to make some tasty returns there?


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The views expressed in the article are wholly those of the author and do not represent those of, nor should they be attributed to, ZyCrypto. This article is not meant to give financial advice. Please carry out your own research before investing in any of the various cryptocurrencies available.

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Source: https://zycrypto.com/how-to-earn-on-crypto-youre-hodling-in-2021/

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