Chainlink (LINK) Solutions to Fuel Health Data System, Analysts Predict LINK Price Upsurge

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Sat, 06/27/2020 - 14:14
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Vladislav Sopov
Chainlink (LINK) decentralized oracles are used for multiple blockchain-based solutions. Now, they power healthcare data storage by FLETA (FLETA) for the S.K. government.
Chainlink (LINK) Solutions to Fuel Health Data System, Analysts Predict LINK Price Upsurge
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Two teams have inked a partnership to advance medical data storage and transfer solutions based on FLETA's native blockchain. The new system will mostly act as an information sharing instrument for medical professionals.

Blockchain and Healthcare: Important Use-Case

According to the official announcement, Chainlink (LINK) oracles will be implemented into decentralized applications that are designed to store sensitive medical data on-chain.

Chainlink oracles will validate medical data
Image via Twitter

Up-to-date data supplied by Chainlink (LINK) oracles will be transmitted into FLETA’s Clinical Research Data Registry Platform. This platform combines smart contracts with medical data from researchers, doctors, and students.

This initiative has officially received support from the South Korean (S.K.) government. According to Henry Kong, CEO of FLETA, this novelty will upgrade the integrity of smart contracts system, therefore, boost its usage and adoption.

Both teams are also considering the option of continuing their partnership with S.K.'s healthcare regulatory bodies. Chainlink (LINK) oracles will maintain the security and accuracy of the data exchange between on-chain and off-chain segments of medical data storage system.

LINK Price May Surge

Typically, high-tech mid-cap altcoins are subject to 'announcement pumps'. A seasoned trader, analyst, and hedge fund manager who goes by the name Koroush AK, believes that the price of LINK may follow this pattern.

LINK price may pump, analyst supposes
Image via Twitter

According to him, the price of LINK not only escaped the correction zone (between $3.95 and $4.45) but can reach new all-times-high shortly. 

As recently covered by U.Today, LINK has already surged 11%. Its splendid rally has been put on pause by the brutal collapse of Compound Protocol Token (COMP), which made all of the altcoin bulls cautious.

At press time, Chainlink (LINK) was changing hands at $4.56 on major spot cryptocurrency exchange platforms, with a slight correction after a reaching local high of $4.8.

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About the author

Blockchain Analyst & Writer with scientific background. 5+ years in IT-analytics, 2+ years in blockchain.

Worked in independent analysis (Crypto Briefing) as well as in start-ups (Swap.online, Monoreto, Attic Lab etc.)

2,500,000 Ethers Locked in Ethereum 2.0 Deposit Contract as ETH Rejected From $1,250

News
Fri, 01/15/2021 - 18:02
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Vladislav Sopov
Ethereum 2.0 enthusiasts deposited whopping sum in its contract launched six weeks ago
2,500,000 Ethers Locked in Ethereum 2.0 Deposit Contract as ETH Rejected From $1,250
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While crypto markets are trying to get out of the most painful correction in this bullish cycle, the Ethereum 2.0 deposit contract accomplishes another crucial milestone.

ETH2 deposit contract surpasses $3,000,000,000 level

According to leading Ethereum network observer Etherscan, the Ethereum 2.0 deposit contract (0x00000000219ab540356cBB839Cbe05303d7705Fa) allocated more than 2.5 million Ethers. New 32-ETH stakes are transferred to it every minute.

ETH2 deposit contract breaks above $3B
Image by Etherscan

As the correction of the Ethereum (ETH) price ended, ETH is changing hands at $1,225: the $1,250 level was too difficult for bulls to conquer. Meanwhile, even at press time, it is worth almost $40,000 to join the club of Ethereum 2.0 stakers.

Therefore, the USD-denominated value of assets locked in the contract surpassed $3 billion for the first time ever and keeps surging.

It should be noted that Ethereum 2.0’s deposit contract went live on Dec. 1, 2020, heralding the start of ETH2 Pase Zero or Beacon Chain, the inaugural stage of Ethereum 2.0.

Ethereum 2.0 “entry tickets” become really expensive

At press time, more than 52,267 addresses transferred money to the deposit contract.

Ironically, Black Thursday in Crypto (March 13, 2020) was the most convenient time to join Ethereum 2.0 staking with Ether at $95. Today, Ethereum (ETH) enthusiasts should pay 13 times more to have a minimum amount of Ethers required for staking.

Ethereum 2.0 is a proof of stake (PoS) iteration of the Ethereum (ETH) protocol. It replaces mining by staking and splits the whole Ethereum (ETH) network into several interconnected sub-chains (shards).

According to Staking Rewards analytical dashboard, annualized rewards for ETH staking are estimated between 10.4 and 10.6 percent.

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About the author

Blockchain Analyst & Writer with scientific background. 5+ years in IT-analytics, 2+ years in blockchain.

Worked in independent analysis (Crypto Briefing) as well as in start-ups (Swap.online, Monoreto, Attic Lab etc.)