What to know:
As a seasoned analyst with years of experience in the cryptocurrency market, I have witnessed the rise and fall of countless coins, tokens, and memecoins. However, I must admit that the recent addition of several popular memecoins to Chainlink services has piqued my interest.
Over the weekend, several well-known meme tokens found their way into various Chainlink offerings. This means they can now be made available on different platforms or used for data streaming services.
Recently, Shiba Inu (SHIB), along with its associated tokens Turbo (TURBO) and Apu (APU), have implemented the Chainlink Cross-Chain Token (CCT) standard. This change allows them to be traded on a variety of 12 different blockchains, expanding their availability beyond the original networks where they were issued.
On Sunday, Simon’s Cat (CAT), Coq Inu (COQ), a goat (GOAT), Hamster Kombat’s HMSTR, and Mog coin (MOG) were added to a list of assets using Chainlink’s decentralized data feeds.
One method to rephrase the given text in a natural and easy-to-understand manner is as follows:
— Chainlink (@chainlink) December 21, 2024
In this setup, these waterways employ an Oracle system that keeps market information readily accessible away from the blockchain. Whenever necessary, this data can be fetched and subsequently authenticated using cryptography within the blockchain.
Cross-chain tokens (CCTs) are digital assets that can move securely between different blockchains thanks to Chainlink’s security features. A lock-and-mint system allows for token transfers from Ethereum to other chains, while a burn-and-mint mechanism simplifies cross-chain transactions across various networks.
Boosting the token’s presence across multiple platforms enhances its visibility and reach, encouraging more investments and use by platform users.
Chainlink’s LINK tokens rose Monday, beating a 2% drop in bitcoin (BTC) in the past 24 hours.
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2024-12-23 16:32