Former Google CEO Eric Schmidt revealed in a recent fireside chat why he thinks Chainlink ($LINK) is a “winner.”
Schmidt, who Forbes currently ranks as the world’s 90th wealthiest person with a net worth of $16.8 billion (as of 3 October 2022), made his remarks during a fireside chat with Chainlink Labs Co-Founder and CEO Sergey Nazarov at SmartCon 2022, which took place in New York City on September 28-29, 2022.
Schmidt said, according to an article by The Daily Hodl: “In [Chainlink’s] situation, since you were early and clearly extremely intelligent, you were the first one in, so you view it from the perspective of the one who is ahead. Consequently, I anticipate the same dynamic of new items entering Web3.”
“I am now speaking in my capacity as a computer scientist. You must have the proper architecture to scale from 10 users to 10 million users, yet the majority of systems… And this is not a judgement on Chainlink, but rather on the fact that other structures seem to collapse very soon. That’s my observation. They are just not yet scalable, and it is simply more difficult… It cannot be completed in six months. Real computer science, real strategy, and real platforms are required.”
Chainlink Labs reported on Twitter on October 1 that the ecosystem has “grown to more than 1,500 projects across 15 blockchains” in the third quarter of 2022. Chainlink facilitated $16.8 trillion worth of transactions in 2022, which was the most significant of the four major milestones they indicated.
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