(Updated 10. September 2022)
I’m blown away by all of Chainlink’s partnerships and integrations and how fast they keep adding new ones. In this article, I want to get a better picture of its place in this market and figure out this: Who are Chainlink’s competitors?
Chainlink’s three biggest competitors are Band Protocol, UMA, Nest Protocol and API3. They are Oracle Networks competing with each other to get integrated and find partnerships. However, Chainlink has 22 times more partnerships and integrations than the four others combined.
Chainlink is the king of the Oracle sector. No other oracle project has managed to get integrated into as many other projects as Chainlink has.
At the time of writing, Chainlink has almost 1500 partnerships, while their closest competitor has less than 27…
“Why are integrations and partnerships so important for Oracles?”
Because that’s what Oracle Networks do! They are integrated into other projects to make them compatible with, and useful for, the real world:
As you can see from the image above, the use-case for oracle projects is to be used by other projects to feed them real-world data or feed real-world projects with blockchain data:
Oracles link the blockchain world and the real world together.
For that reason, the number of partnerships and integrations is the best way to measure the success and adoption of oracle networks like Chainlink and Band Protocol.
Consequently, the one with the most partnerships and integrations is the most successful and adopted one, and Chainlink is way beyond any of its competitors in this area.
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Adoption Of Chainlink vs. Competitors
I want to get a clearer picture of just how much further Chainlink has come compared to its competitors. I made a graph showing the number of partnerships and integrations that Chainlink and its top 3 competitors have:
As you can see, Chainlink is so far beyond any of its competitors it’s not even a competition anymore…
Put another way:
Chainlink has 22 times higher adoption than its four biggest competitors combined.
That’s actually why I think that Chainlink is one of the best crypto investments for the next 5 years.
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