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Chainlink's Collaboration with US Department of Commerce Drives LINK Price Up 5%

Chainlink's Collaboration with US Department of Commerce Drives LINK Price Up 5%

The U.S. Department of Commerce teams up with Chainlink to integrate critical economic data onto Layer 1 and Layer 2 blockchains, signaling strong institutional confidence in blockchain infrastructure.

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Summary

The U.S. government has partnered with Chainlink to bring official economic data on-chain, enabling real-time, tamper-proof access to government data without intermediaries. The integration covers 10 major blockchains, including Arbitrum and Ethereum. Experts predict this move could significantly boost Chainlink’s value, with some forecasting a 10x price increase as institutional adoption accelerates. Other countries are also exploring similar initiatives, broadening the use of Chainlink’s oracle technology.

Terms & Concepts
  • Chainlink: A decentralized oracle network that enables smart contracts to securely interact with real-world data and external APIs.
  • Oracle: A service that allows blockchain applications to interact with real-world data by securely bringing external information on-chain.
  • DeFi: Decentralized Finance, a movement that uses blockchain technology and cryptocurrencies to recreate traditional financial systems without intermediaries.