Chainlink and competition

Who Are Chainlink’s Competitors? The Oracle War

I’m blown away by all of Chainlink’s partnerships and integrations and how fast they keep adding new ones. However, 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, API3, and WINKlink. They are Oracle Networks competing with each other to get integrated and find partnerships. However, Chainlink has ten times more partnerships and integrations than the three others combined.

Chainlink is the king of the Oracle sector, which I’ll get into in this article. No other oracle project has managed to get integrated into as many other projects as Chainlink has.

To be precise, at the time of writing, Chainlink has over 600 partnerships, while their closest competitor has less than 40.

“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:

Chainlink competition
source: https://chain.link/solutions

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.

Suggested reading:

Does Chainlink Have A Future?

Can Chainlink Reach $1000?

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:

(Sources: https://api3.org/, https://bandprotocol.com/, https://www.chainlinkecosystem.com/ecosystem/, @KwakuAgyei)

Who Are Chainlink Competitors?
7. July 2021

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 ten times higher adoption than its three 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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