What is Chainlink?
ChainLink is a decentralized oracle (software built on top of a blockchain), which provides external data to Ethereum smart contracts. ChainLink is an open source project, started at September 2017 by a company SmartContract. This company was already creating secure oracles for Bitcoin and Ethereum for over 3 years, but in 2017 decided to move towards their own middleware ChainLink. At the moment ChainLink is maintained by 3 developers.
The main purpose for creating ChainLink was to provide nnectivity between blockchains and external software such as bank payments, retail payments (Visa, Paypal), market data (NYSE, Bloomberg) and backend systems (SalesForce, SAP). This allows to integrate blockchain with off-chain sales and local payments, to turn them into smart contracts in exchange for LINK tockens. LINK token is an EIP20 Ethereum token with some additional functions. ICO for LINK tokens was completed on September 2017 raising total of $32.00 M.
Currently ChainLink only works with Ropsten, a test Ethereum network.
- Historical Data
- 3 reasons Bitcoin suddenly dropped 3% in 1 hour and recoveredCointelegraph.com News - 5 hours agoThe price of Bitcoin abruptly dropped over 3% in under an hour after surging to $13,350, but its high time frame log charts remain highly…
- Bitcoin breaking through $12K is huge but don't expect higher prices before 2021Cointelegraph.com News - 7 hours agoBitcoin price may now see sideways action for a few months after breaking through crucial multi-year resistance at $12,000. The previous week has been tremendous…
- Corporate disclosure is the only way to get crypto institutionalizedCointelegraph.com News - 9 hours agoDisclosure best practices need to be adopted as their lack is holding the industry back. Some people predicted that crypto assets were going to be…
- Gold ‘breaking down’ against Bitcoin is highly bullish for BTC — AnalystCointelegraph.com News - 15 hours agoReal Vision Group CEO Raoul Pal says gold is “breaking down” against Bitcoin, a signal that the bullish case for BTC continues to strengthen. Earlier…
- China's central bank lays regulatory foundation for CBDCCointelegraph.com News - 20 hours agoThe new draft law legitimizes digital yuan and may criminalize the issuance of yuan-backed stablecoins by third parties China’s central bank, the People’s Bank of…