What is Chainlink (LINK)? Chainlink is a decentralized oracle network that connects blockchain-based smart contracts to external data, payment networks, and various real-world events. It is known to have a secure infrastructure that allows smart contracts to link to APIs to communicate with and obtain data from external sources.
The main aim of the project is to optimize and expand the usage of smart contracts and to reduce the possibility of information fault or inaccuracy. Oracle nodes receive real-world data, proceed it through the network and take it to the blockchain. Oracle operators that contribute to the Chainlink harvesting and transmission have a reward in LINK tokens. Chainlink native cryptocurrency, called LINK, is one of the main components of its decentralized network.
LINK is an Ethereum token based on the ERC667 standard, which makes it compatible with the popular ERC20 standard as well. This means that LINK tokens can be stored in any Ethereum wallet.
Some experts predict to see LINK reaching around $10 and making it to the top 10 cryptocurrencies in CoinMarketCap by mid-2020.
The project was launched by SmartContract company established in 2014. It has offices in New York and San Francisco, which makes Chainlink an American project.
The company cooperates with the interbank data transfer and payment system SWIFT, which covers 11 thousand banks worldwide.
ICO was held on September 19th, 2017.
The project was laying low during the bear market of 2018. Almost nobody was talking about Chainlink and the LINK token crashed down like every other altcoin. However, in summer of 2019 LINK token moved from $0.5 to over $4 in just two months.
Let’s say you want to buy Chainlink. What should you do? We suggest you go to the SimpleSwap homepage and follow the instructions below:
This is everything you need to know to buy LINK.