WINkLink (WIN) has weakened from $0.00047 to $0.00024 since January 16, 2022, and the current price stands at $0.00029.
Technically looking, WIN remains in a bear market, but the current price could be a good entry point for long-term investors.
Decentralized oracle network
WINkLink is a decentralized oracle network that uses its smart contracts to connect data from the real world and ensures the security of the entire procedure of smart contracts execution, including obtaining data from off-chain sources.
Blockchains usually can’t access external information and decide whether the information is authentic and credible, and this is the main reason why blockchains need projects like WINkLink.
WINkLink is deployed on the TRON, and the design of this decentralized oracle network reduces the needs of trust among parties of the contracts.
WINkLink’s smart contracts can access any data easily, and it is important to say that this project can output data securely to off-chain systems, which implement the connection to the real world and ensure the temper-proof of smart contracts. The team of WINkLink reported:
We will always value the community and continue to develop WINkLink in an open-source manner. We are appreciated for any suggestions from the community, and we hope WINkLink can promote the development of blockchain and smart contracts.
Many important projects already collaborate with WINkLink because it provides better services for developers and users with faster, more stable, and cheaper transactions. The most popular ones include Poloniex, BitTorrent, SUN, TronGrid, TrueUSD, dlive, and Steemit.
WINkLink enables developers to create customized oracles and connect smart contracts to the real world in a few minutes. Developers get verifiable randomness so that oracles can meet DApps’ various needs for random numbers.
WIN is a utility token of WINkLink network, which can be used to pay operators for the retrieval of data from off-chain data feeds, uptime guarantees they provide, formatting of data into blockchain readable formats, and off-chain computation.
Technical analysis
WIN has collapsed from its highest level in 2022, which stands at $0.00047, and according to technical analysis, this crypto remains in a bear market.
Despite this, the current price represents a good entry point for long-term investors. If the price jumps above $0.00035 resistance, the next price target could be around $0.00050 or even above.
Summary
WINkLink is a decentralized oracle network, deployed on the TRON that connects the off-chain world with smart contracts. WIN has collapsed from its highest level in 2022, which stands at $0.00047, but if the price jumps above $0.00035 resistance, the next price target could be around $0.00050 or even above.
The post Is WINkLink (WIN) buy opportunity after the price collapsed? appeared first on Invezz.
from Market Analysis – Invezz
