While the crypto economy has shed significant value, losing more than $2 trillion since the highs recorded at the end of 2021, a great deal of value was erased from smart contract platform tokens and decentralized finance (defi) protocols. One sector of the defi ecosystem that’s recorded heavy losses this year is the blockchain oracles space, as a great number of oracles secure a lot less value than they did seven months ago. While there are more than two dozen oracles today and there were only 17 at the beginning of the year, the total value secured by oracles has decreased by 61.74% since mid-February.
Today There’s a Lot More Blockchain Oracles but Less Value Secured by All of Them Since Mid-February
Blockchain oracles have seen significant growth since the inception of these protocols but in 2022, the protocols secure a lot less value than they did seven months ago. A blockchain oracle is essentially middleware that connects a blockchain network to external systems via smart...
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INN caught up with cryptocurrency investment expert Dan Hoover to review the current landscape and where the market may be heading. The cryptocurrency investment marketplace has gone through severa...