Crypto analyst and influencer Tyler Swope is naming the crypto asset that he believes will usurp Dogecoin (DOGE) and change into the meme foreign money of the long run.

In a brand new video, Swope tells his 238,000 YouTube subscribers that he believes Dogecoin lacks the options that permit it to retain its relevance within the quickly evolving meme tradition.

“Being accepted for funds supplies utility as a foreign money. However simply being a foreign money doesn’t imply you’ll change into the meme foreign money of the long run. Dogecoin holders hear me out. Good contracts are so freaking vital… And that is unhappy to see. Even on the Dogecoin developer subreddit somebody was asking about sensible contracts only a month in the past and the highest upvoted put up from a DOGE developer is, ‘No, not in the identical capability as Ethereum. It isn’t wanted. Dogecoin is a foreign money. We don’t want bells and whistles.’”

Based on Swope, a crypto asset will need to have extra functionalities apart from being a foreign money to assist the meme tradition.

“Nicely for my part, to do that you want sensible contracts. You want oracles. You want artwork. Memes are communication by way of artwork, photos, popular culture. In the event you can’t host any of that in your chain, you ain’t turning into the meme foreign money of the long run. I’ll assure you that.”

Whereas most individuals are taking a look at Dogecoin, the crypto analyst asserts that one-large cap crypto asset already has the options and the tradition to change into the meme foreign money of the long run.

“In the event you don’t know concerning the meme tradition of Chainlink (LINK), pay attention in. It’s far-reaching, robust, and idolizes the Flan Man himself: Sergey [Nazarov]. Many don’t perceive it, get that bizarre photos or the spiritual overtones, however you’ll quickly. The meme tradition of LINK for my part is extra organized, stronger and able to create meme currencies than that of DOGE.”

Swope highlights that he believes Chainlink together with a brand new breed of non-fungible tokens (NFTs) will ultimately take over the meme tradition.

“Why not pay individuals by way of memes, not only a cryptocurrency, however an precise meme that may have worth connected to it, an artwork piece? That’s solely doable with NFTs, particularly dynamic NFTs, which Chainlink and its oracle community permit. Dynamic NFTs are principally perpetual sensible contracts that use oracles to speak with and react to exterior information and programs… So think about this, as a result of it’s coming before you suppose, and it’s already starting in some types. Chainlink oracles energy Aaave. aTokens (interest-bearing tokens) from Aave constantly generate yield through their lending system. It’s regularly rising collateral. Now [you can] have that NFT that holds collateral.”

When it comes to worth potential, Swope says he believes Chainlink can soar as excessive as $1,000, which represents a meteoric rise of 1,900% from its present worth of $50.

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Originally published at https://theblockchaindecentral.com on May 10, 2021.