In the last three months, the crypto market’s focus has been on decentralized finance projects. After they multiplied their value several times in recent weeks. And among these DeFi projects, Chainlink stands out above the rest. Being the most valuable, known and used of all. Therefore, it is important to know that Chainlink acquires a DeFi project from Cornell University to strengthen its platform.
The rise of DeFi in the crypto market
Even for a market used to surprising hikes, the DeFi boom of the last three months has been a real event. And it is that, although decentralized finance had been a promise for several years. It is not until now that its full potential seems to have been unleashed, tripling the market capitalization of DeFi projects.
Thanks to this, projects like Chainlink or 0x, with years of existence and work for the promotion of DeFi, have come to the fore. Getting the media attention, and more importantly, the investments of thousands of people around the world who believe that this type of decentralized financing is the future of the economy.
Which, however, has also revived fears within the crypto community. Especially from those who experienced the boom of Initial Coin Offerings in 2017. When what promised to be a new mechanism to finance the creation of cryptocurrency-based companies. It ended up being a failure that led many people to lose all their money in fraudulent ICOs.
Buying Chainlink from Cornell
Therefore, it is normal that the main DeFi Blockchain today, Chainlink, seeks all the tools at its disposal to strengthen its infrastructure. In order to prevent your project from ending up suffering the same fate as many of the most promising ICOs. Which ended up failing due to lack of technical resources at their disposal.
Thus, today it has transpired that Chainlink decided to buy DECO, a Cornell University project based on Blockchain technology, with which privacy is substantially improved in Chainlink’s “oracles”. Which constitute the nexus between the world of DeFi and traditional financial markets.
This purchase would have been made for an unknown amount. And it comes at a time when Chainlink is writing a second version of its own white paper. With updates that allow the blockchain to assume its new position as one of the most important projects in the crypto world. Showing with the acquisition of DECO its willingness to take advantage of this boom in DeFi to consolidate its position in the long term.