Chainlink is ranked at #16 according to the latest data obtained from coinmarketcap. The price of LINK ascended by 4.54% in the span of the past 24-hours. The total market cap of Chainlink is $866.615 million. The trading volume recorded is $80.927 million. The circulating supply houses 350,000,000 LINK tokens for now.
IOTA comes right after Chainlink on the table. The total market cap of MIOTA is approximately $861 million, which shows how closes these two altcoins are for now. The price of MIOTA stands at $0.309722, after a jump rate of 7.30% was noted. The trading volume recorded is $14.709 million. The supply has 2,779,530,283 MIOTA tokens in play.
Both these tokens are non-mineable. The decentralized oracle service [Chainlink] has a partnership with Google, which was revealed during the previous month. I believe that this played a crucial role for LINK shooting up through the ranks and landing among the top 20.
In a blog post by Google, they report “how a specific smart contract platform (Ethereum) can interoperate with our enterprise cloud data warehouse (BigQuery) via oracle middleware (Chainlink).”
The post states in order to get data from BigQuery, a dApp requests the Chainlink oracle contract and payment for the parameterized request is included [Example: gas prices during a specific period]. One or more Chainlink nodes who are to check for such calls will execute the operation [just 1 node will be responsible].
In order to speed up adoption for Internet of Things (IoT), IOTA partnered up with STMicroelectronics. As a result of this, IOTA Tangle will be implemented into ST’s STM32Cube software for the STM32 32-bit MCU ecosystem, the X-CUBE-IOTA1.
You can watch the video posted by the IOTA Foundation on YouTube detailing the latest deal:
These two are battling it out in the market, with IOTA looking to overtake its competitor. This remains to be seen, as the volatility present may shift at any instant.