Source: LINKUSD Chart by TradingView
Chainlink is a decentralized oracle network that connects smart contracts on the blockchain to real-world data. It allows smart contracts to access off-chain data, such as stock prices, weather, and other external information, by providing a secure and reliable link between the blockchain and external data feeds.
The Chainlink network is composed of multiple independent nodes, or “oracles,” responsible for collecting and validating external data. These nodes are operated by a decentralized community of users and can be staked to ensure their reliability. Smart contracts can then request data from these nodes, and the nodes will respond with the requested information, allowing the smart contract to execute its intended function.
One of the key features of Chainlink is its use of a reputation system to ensure the quality of the data provided by the oracles. Each node is assigned a reputation score based on its historical performance, and smart contracts can choose to request data from nodes with higher reputation scores for higher-quality data.
Chainlink is built on the Ethereum blockchain and uses the Ethereum smart contract platform to provide a secure and decentralized link between smart contracts and external data. It also has a native token (LINK) used to pay for the data provided by the oracles and can be traded on various cryptocurrency exchanges.
Overall, Chainlink is considered a valuable infrastructure for decentralized applications, it’s been adopted by various DeFi projects and has partnerships with some of the most notable companies in the blockchain and traditional industries.
- Connect to Any External API – Easily connect smart contracts to the data sources and APIs they need to function.
- Send Payments Anywhere – Send Payments from your contract to bank accounts and payment networks.
Chainlink opens NFT price feed oracle to expand DeFi usage
Chainlink is now handling NFT price data in conjunction with Coinbase Cloud.
Chainlink down 6% as holders stake $76M in 24 hours
CryptoSlate data shows that LINK fell by 5.93% over the last 24 hours to $6.83753.
Chainlink launches Economics 2.0 staking programs
The SCALE and BUILD programs are part of the Economics 2.0 plan to secure the network and reward participants by introducing staking.
Token Sale Advisor
Chainlink launched its token sale on Sep 19, 2017 and completed it on Oct 19, 2017. It raised a total of $32MM USD from 2649 contributors.
The total supply available for purchase during the token sale was 1 Billion LINK.
All images, branding and wording is copyright of Chainlink. All content on this page is used for informational purposes only. CryptoSlate has no affiliation or relationship with the coins, projects or people mentioned on this page. Data is provided by CoinMarketCap, Coinpaprika and TradingView.