Many observers of the cryptocurrency market indicate that 2020 is the year of decentralized finance with distinction.

The boom in the industry certainly supports this saying.

However, there is a place in this area with digital currencies that enjoy a greater growth rate than others, which is the digital currencies associated with Oracle technology.

Oracle are services and platforms developed to integrate with smart contracts and deliver various information, such as pricing information, in real time.

Some define it as a bridge between the world of the blockchain (data on the network) and the real world (data off the network).

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Oracle does its part, if implemented correctly, to solve serious data reliability issues, not only in the world of trading but also in other applications related to blockchain technology.

Given its usefulness, it is not surprising that Oracle played a leading role in the DeFi boom.

According to a report released by crypto data company “Messari” today, Oracle coins such as LINK, Band and Nest are among the top performing coins of the year.

Taking a more comprehensive view, we find that Chainlink and Band, in particular, are used by various decentralized finance protocols, and their coins rank among the most valuable decentralized finance coins, according to data from Queen Gekko.

Chainlink, the most popular oracle protocol, has seen a quadruple growth since the beginning of 2020 until now, making it the best performing cryptocurrency among the top 100 coins of CoinMarketCap.

But even that kind of massive return pales in comparison to some of the lesser known oracle coins, such as Band, Dos Network and Zap, which have all grown between 3000% and 4000% in the last 365 days.

For the record, things are not quite rosy, such as putting an investment amount of 10 thousand dollars and waiting a little for it to become 300 thousand dollars, but these currencies are very volatile and may go down to a lower level of capital, so caution and capital management is obligatory.

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Some are venturing into this game, investing large sums in these small coins related to the world of decentralized finance, for example, the “yield farming” feature has been added as a way to help promote and benefit from similar cryptocurrencies.

But it is wise to be careful, as while the crypto markets have matured a lot over the years, the decentralized finance boom is likely to be remembered and compared to the ICO bubble of 2017.

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