Practice English Speaking&Listening with: The Falcon Crypto Rating: Chainlink

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hey everybody and welcome to another uh video here today of the um the falcon crypto rating today i

wanted to have a look at chain link um as i've said before please keep the requests coming in

um i am kind of working through the list of of the the cryptos that everyone here has mentioned

and um yeah the plan is to get through all of them eventually so yeah i said leave it

uh leave your request below in the comments and let me know what you think of this one as well um

now if you are new to this i would always say please go back and watch the one that i did in

xrp first because that one and i went into a bit more more detail explained a bit longer was a

longer video but you'll get a better understanding of what it is and like how this sheet works and

how it ranks and that being said and let's move on to chaining so as always for now uh please

ignore these uh these numbers we um i just put it in here so obviously this is a um it hasn't we

haven't filled it in yet so um first things first have i read the white paper yes i have and i am

going to show it to you here now this is the white paper so chain link decentralized oracle network

and we're not going to go through the whole thing but what i do want to go through is actually

the introduction because the introduction kind of gives us everything we need for now

um and for people who might not know j-link as well um as they probably should um

it gives them a good breakdown of what the problem is and what channeling actually does so

um i'm literally gonna start just here with the introduction down to this part here so i'm

just gonna read through it and explain if needed along the way so um first thing so smart contracts

are applications that are that execute on decentralized infrastructure such as a blockchain

they are tamper-proof in the same sense that no party even their creator

can alter their code or interfere with their execution historically contracts embodied in code

have run in a decentral or in a centralized manner apologies and that leaves them subject

to alteration termination and even deletion by a privileged party so just to summarize that part um

the old way when i was centralized there was always one person or one party in control

now then we're moving to decentralization and not one there's like no one party that

control it it's done by um say like voting or something like that right but but by

everyone that's involved so not just the um just one party okay so continuing on um in

contrast smart contracts execution guarantees and which bind all parties to an agreement as written

it creates a new and powerful type of trust relationship that does not rely on trust in any

one party so basically what design here is upfront we all agreed on something that's now what's going

to happen there's no way to change this right well i guess through voting maybe but everyone would

have to agree on that right so it's not just one party that can can move to go post after

the game has started okay and because they are self-verifying and self-executing i.e tamper-proof

as explained above smart contracts does offer the superior vehicle for realizing and administering

digital agreements okay so what they've done here is they've just kind of laid the base they just

explained okay the world is moving towards smart contracts because the old way was was it didn't

really work with one centralized point the new way but it's completely decentralized that's

where the future is going so they just what they do this year is they just kind of like um they

just build a case or they just acknowledge kind of what's happening okay so now we continue here

the the powerful trust model that smart contracts embody though introduces a new technical challenge

and that challenge is connectivity okay so i can already feel what's coming here right

the connectivity is is you can see obviously the way it's written as well this is where

chain link comes in okay so let's uh let's focus on this now uh the vast majority of

interesting smart contract applications rely on data about the real world that comes from

key resources specifically data fees and like and apis that are external to the blockchain because

of the mechanics of the consensus mechanism under pining blockchains and blockchain cannot

directly fetch such critical data so basically what what means what this means here is that

yes the the whole new thing that we're we're going through now like the whole blockchain um

i'm just going to call it movement or whatever you want to call it is fantastic however it needs data

from i'm just going to call it the real world or the the old world or whatever you want to call it

it's basically the world outside right so somehow we need to get the information from outside

onto the blockchain but the problem is it needs to be trusted as well right so and that's the issue

that needs to be solved how can we get data that does not live on the blockchain onto the

blockchain okay now so what do they do what are they suggesting here we propose a solution to

smart contract connectivity problem in the form of chain link a secure oracle network um what

differentiates differentiates chainlink from other oracle solutions is its ability to operate as a

fully decentralized network this decentralized approach limits the trust in any single party

enabling the tamper-proof quality valued in smart contracts to be extended to the

end-to-end operation between smart contracts and the apis they rely on making smart contracts

externally aware meaning capable of interacting with off-chain resources

is uh necessary if they are not going to replace digital agreements in use today or sorry if they

are going to replace the digital agreements in use today so i think that kind of is everything

we need to know i'm just going to read the last part just to complete the introduction but today

the lion's share of traditional contractual agreements um that have been digitally automated

uses external data to prove contractual performance and require data outputs to be

pushed to external systems when smart contracts replace these older contractual mechanisms

they will require high assurance versions of the same type of data inputs and outputs examples

of potential next generation smart contracts and their data requirements include now i'm not going

to go through this but i just do want to mention these three things because it's just cool to

i guess to to realize that this is a thing so when it comes to security and smart con smart contracts

like stuff like the outside information that they would need right would be like market prices and

that kind of stuff um insurance they will like need to know like say internet of things right

iot data so in this in this example here if you want to make an insurance claim

um like your insurance might want to know if your door was actually locked

so the like internet of things will make it happen um possible to give like the the information from

like your magnetic door lock like to them right was was it actually locked at the time of the

break-in that kind of stuff and then like trade financier like gps and all that kind of stuff so

just tracking everything like that that's moving around so that you can these are just three

examples of like off-chain information that needs to be brought on jane so here we have a

have what we were looking for right so um the i'm trying to see if i can find a good sentence here

yes i'm gonna go with this one so what is it that chain link is um solving they're they're

solving the smart contract connectivity problem okay and i hope i kind of made you understand a

bit better what's happening here and why it's necessary and what the prop what's the problem

what the problem is that they're solving so now we can kind of go back to the sheet and continue

um so the use case here i'm just going to put what i just took there is solving

the smart contract connectivity problem so that's what they're solving so they get the

full points there and have they done an ico yes they have um i found a new website

um coin codex i haven't really used it before today but um i liked it a lot just because it was

quite clear click on chain link and if i scroll down you can see here more info chain link ico and

it gives you any information about it all so just like a bit more information about the actual ico

and i'm not going to go into that now like you can get it here if you want to um but for me for now

it's just important that yes they have done an ico and which once again i personally don't have an

issue with but i'm expecting there might be some issues in the future regard regarding stuff like

the sec and that kind of stuff so that's why they get minus points there or not minus points they

just miss out on points okay so so far um from the white paper we've learned that they are solving a

problem and we also now know that they are do it or they have done an ico okay moving on next let's

have a look at the team and for this i always use um as most of you know life coin watch it's just

easy because just links to the to the people and let me have a look chain link okay and um team

so we have the ceo here we have the cto and there are some advisors here i'll open them but

the main focus will be the ceo and the cto okay so let's have a look here and where have they worked

okay so here he was an intern so after this

he created his own company so it was for people who are new what i'm looking for is a professional

experience so that they kind of have an idea of what what they're doing so that they can give

proper guidance to the company along the line so i'm just going to kick click on this one here um

did not show up let's have a look at this one

okay i'm kind of looking for something like when you're a co-founder

that's not what i'm looking for i'm looking for

like experience in big companies so not for me not much here let's have a look at steve ellis

pivotal labs i guess that's a medium sized company

250 something teachers assistant so from the actual ceo and the cto to be honest i am not that

confident and the level of experience that they have however we also saw that they have they

brought in advisors right and as i've said before for me if the advisors do have the experience i'm

okay with that too and because they'll still get the guidance so let's have a look here evan ching

here we go look this guy worked in facebook apple

like he's got some nice big names i'm not i don't even have to look at the rest i can see

it here he's got some good experience what about this guy hudson jameson um

okay yeah i can already see as well like 31 000 employees and let's have a look at this one

yeah okay so the way i see it here is if i had just if i was the only thing i was judging was

the actual creators of founders i would not be too happy with it but since they brought in advisors

and i am going to give them the once again the benefit of the doubt the team experience because

first of all the fact that you you kind of acknowledge that you don't have the

experience necessary and you bring in advisors already means that i think you have quite a um

i would say that like a professional approach you you realize your weaknesses and you want to fix it

and then when we actually took a look at the team they came from stuff like uh was at apple google

that kind of stuff so i'm happy out there okay so let's move on

to the next one which is uh coin paprika where we are going to look for some information

here we go coin paprika and chain link scroll down a bit so it's centralized which is obviously not

great uh open source is obviously better so it is centralized it is up source so they're missing out

on points here for the um arc structure they're getting points for it being open source the um

what else am i looking at here um algorithm is none platform ethereum okay so um if you've

been here before you also know that i'm not very happy with it being built on a different platform

and just because of dependence being dependent on that as well so to get some minus points there

the consensus mechanism was not mineable right um yeah not mineable

okay so they messed up missed out on a few things here which i

which i would would have liked to seem a bit different

um like obviously for me to invest in something i like like i want d i'm looking at the total

picture right so let's not judge it just yet um okay so now we're moving on to to github

and which we can link through here coin paprika so contributors 93

then the stars 2082

what about the github commits so let's head over to github

and 15520 fifteen thousand five hundred and twenty okay so got some points there

now we are looking at the different um different languages we have here we've got a javascript go

typescript it's going to do those three first javascript go and typescript so we have a

um javascript go and typescript and then we also had solidity and shell

shell and solidity okay so there's quite a few more points there moving over from moving

away from the tech now over to the market so like how it's just performed in like

the last i guess years um for people who are new once again just going to repeat this the

when i look at the all-time high like the longer that has been the more points you score

for me because i like that they still have um i would say they they haven't um

maybe surpassed it yet or they still have a way to go right so that's i'm looking to get

in early so i'm waiting i want to get in before it kind of happened so that's why um this they

don't get too many points here because the last time they're like the the all-time high was on

the 10th of may of this year and the ultimate difference is okay like how bigger this is as

well is also more points because i like um it still has a a way to go right so far there's no

um how do i say this like i i don't distrust this project i still believe it has value right it's

solving that use case so i do believe it will get back up there and then the more that difference is

the like the more obviously money there is to be made so so like this is all positive

um it was added in 2017 so you get some points there market cap would get some points here as

well and because it's in the um what is it the top uh 20 i think it is uh volume

is okay circulating supply okay this is more stuff that i like um circulated supply you can see here

and like points as well um it's 43.85 percent and why is that important i'm just not a big fan of of

coins where there is no max supply uh you can see here they would have gotten minus points but

they haven't because there is a max um okay so next up with liquidity so let's go back to coin

paprika and where are you here you go liquidity and then combined orders and put that one in here

okay so it gets eight points for liquidity number of exchanges was 94.

okay get some more points there so that's the market i think it actually did pretty

pretty all right here in the in the market part um next moving on to

the um yeah kind of the performance i guess so time to head over to luna crush

and while we're doing that let me close some tabs that we no longer need

okay um chain link okay so first one up here is the top trading pair which you'll always

find down at the bottom right here which is with usdt tether no surprise most of the time

that's the case so you get some points not all the points i'd rather have it with usd just a dollar

or even usdc would be better than tether or two but hey still get some points for it

um market dominance let's have a look at the market dominance and where are you here we go

okay so people who are new again market dominance is a measurement of a market's cap weight

and a coin has compared to the market as a whole now here you can see the market dominance is

zero but i think this should be if we're a bit more precise 0.46 so i'm going to put in that

um 0.46 the galaxy score score here okay so what is the galaxy tour the galaxy score measures a

coin's performance versus itself over time and how it is trending over the last 50 hours in general

it indicates how healthy a coin is by looking at combined performance indicators across markets and

deep social engagement and scores higher than 50 are generally bullish while scores less than 50

are generally bearish okay so what is it now 71 so that's polish it's actually the highest one so far

let's have another look at the alt rank so what is the outrank and outrank measures the

coin's performance versus all other coins that we actively support with we i mean lunar crush

um in general it is a unique measurement that combines altcoin price performance

relative to bitcoin and other social activity indicators across the entire crypto market

a coin can have a high a high out rank of one even in a bear

market situation here you can see the current rank is 35 so putting in 35 here

okay and then the correlation rank

for the people that are new currently not using this but i'm keeping track because i might plan

to use it in the future so what is the correlation rank correlation rank is an algorithm that defines

the correlation between the um the proprietary social data and the coin prices so um you can

see it's 80 which is quite high so basically the um the price reacts very much like like the uh

the influence i guess from the it's very very much correlated to all the data that they use here so

um it's also just the reason i'm also keeping track of this is something that i don't know

like in the future i might want to use it just to see if coins um like how much you can trust

this data right but for now i'm just gonna fill it in and leave it there social dominance next up

social dominance is 3.03 3.03 okay we move over to google trends

and chain link

changing is from the netherlands to worldwide and then we can see it is currently 10.

google trends is 10. google what about google news so chain link news i'll set just over quarter mil

articles phone so let's put that in here get some points for that too

and and i the twitter poll so i just put out a twitter poll earlier so um obviously we don't have

as much data as i would have liked it's going to refresh so so far only about 240 votes

and i might update this tomorrow after that it's been out for a while as you can see it's only been

up there for an hour um but for now i'm going to use it as we have the information so about 35.6

um 35.6 percent um are holding okay um so we now have all the information we need

so how does chain link um score um so you can see here the unweighted ranking it's actually position

five and but after like it's been weighed it actually climbs up one position into fourth place

see that so i'm just just going to sort that in there so here we go we have chain link

here in fourth place um and looking here when it comes to the for people who are new the the

different weighing that i give to it so you can see here the project the team the tech the market

performance and social and they all have 200 points available and and you can see kind of what

like how i guess what i find more important so for me it's mainly the the project and the tech

um and you can kind of see here how much of the the points each category um contributes to the

total and so you can kind of see here that the the project is is a big one the theme obviously

thanks to the advisors it's doing pretty well markets all right um yeah so overall um

came out as a kind of a long-term investment place for above bitcoin um but still below

cardano ethereum and xrp so i think that's it uh for today guys um let me know as i said in

the comments below which ones and which other coins you'd like me to run through i'm happy to

do so i'll just work my way through all of them and for now i hope you like this one and let me

think as well what do you think about chicken chain link like is it something that you you

hold that you'd invest in um yeah goodbye for now and i'll catch you in the next one all right bye

The Description of The Falcon Crypto Rating: Chainlink