Chainlink price, charts, marketcap and other stats

$ 26.19
0.00059800 BTC
$ 12,232,131,900
Volume (24h)
$ 1,707,026,571
Circulating Supply
467,009,550 LINK
Total Supply
1,000,000,000 LINK

What is Chainlink?

Chainlink is a decentralized network of nodes that provide data and information from off-blockchain sources to on-blockchain smart contracts via oracles. This process, along with extra secure hardware, eliminates the reliability issues that might occur if using only a single centralized source. LINK is Chainlink's native token. The token is meant to help finance the growth of the project and is similar to Bitcoin (BTC) and Ethereum (ETH).
Chainlink is a blockchain abstraction layer that enables universally connected smart contracts. Through a decentralized oracle network, Chainlink allows blockchains to securely interact with external data feeds, events, and payment methods, providing the critical off-chain information needed by complex smart contracts to become the dominant form of digital agreement. A blockchain oracle is any system that services a smart contract by providing it with data from an off-chain source or connecting it with an off-chain system. Oracles enable connectivity between blockchains and real-world data by interfacing with external APIs and data feeds, allowing them to pull data for or push data from a smart contract.
Chainlink uses different nodes to obtain the requested data. They form a consensus before returning the data to the smart contract. This way the smart contract doesn't rely on a single oracle. Also, Chainlink nodes can conduct both one-time and multiple times data retrieval tasks.
Chainlink’s real use case is demonstrated by its long list of partners such as Polkadot and Synthetix from the crypto world as well as SWIFT and Google from the traditional business world. For example, a real-world money transfer can be sent into the blockchain from SWIFT via Chainlink. Then proof the payment was received could be sent back via Chainlink to SWIFT. The use of Chainlink by SWIFT creates a seamless interaction between the traditional and crypto worlds while minimizing the potential points of failures.
In conclusion, Chainlink is available for trading on major cryptocurrency exchanges such as Binance and Coinbase. However, it is not currently possible to directly purchase Chainlink with a credit card. It also supports payment via PayPal. In addition, it rewards people for helping Chainlink's functions – You could earn LINK coins by becoming a node provider. As more people perform this role, the Chainlink networks could expand and improve.



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