Chainlink (LINK) is now growing over 11.3%. As reported by CoinMarketCap, the virtual currency became the 15th largest with a market capitalization of $776 million and a price per coin of $2.22.
The price increase comes after unveiling Mixicles, that is expected to bring privacy at scale to Decentralized Finance (DeFi) instruments on public blockchains.
Chainlink Surges After Releasing Mixicles
A few days ago, Chainlink released Mixicles. Through the use of oracles, it will be possible to introduce privacy to public blockchains like Ethereum (ETH). Enterprises that are searching for blockchain networks to operate will now have a more attractive feature for their usage.
On the matter, an official blog post released by Chainlink explains:
“By introducing privacy, public blockchains like Ethereum become substantially more attractive to enterprises because the legal hurdles surrounding data privacy are eliminated in both a cost-effective and scalable manner.”
In this way, Mixicles provide Ethereum with a critical privacy feature to compete with private blockchains.
As a decentralized oracle network, Chainlink allows users to customize how their contract communicates with anything off-chain using different levels of decentralization, data aggregation and oracle selection.
The network gives smart contracts secure and reliable access to data provides, web APIs, enterprise systems, cloud providers, IoT devices, payment systems and more.
Chainlink is expanding in the market as a decentralized oracle network that allows smart contracts to have secure and reliable data providers.
This project provides a market for independent oracles, flexibility to customize them, and a reputation framework that evaluates these oracles using on-chain metrics.
Mixicles are expected to being live on the Ethereum blockchain in a short time. Before that, there should a third-party security audit of the 188 lines of source code.
Given the technical nature of Mixicles, we broke down their core concepts into a more digestible format. Mixicles facilitate private transactions on public blockchains and have profound potential to drive enterprise demand for #DeFi products. #Chainlinkhttps://t.co/6ol79xBiB7
— Chainlink – Official Channel (@chainlink) October 4, 2019
Chainlink is working in order to solve connectivity and privacy problems related to the development of enterprise smart contracts in finance on public blockchains.
LINK is currently the best performing crypto among the top 120 in the market. Bitcoin (BTC) is currently falling 1.8% in the last 24 hours, followed by Ethereum that fell by 1.56% during the same period.
Since the beginning of the current year, LINK surged over 667% from $0.28 to the current $2.22. Earlier this year it reached a price of $4.5.