Chainlink (LINK)

What is Chainlink (LINK)? Chainlink (LINK) is a decentralized oracle network that enables smart contracts to securely connect with real-world data, applications and payment systems. Created by San Francisco-based developer Steve Ellis, Chainlink connects the data of traditional blockchains with off-chain services. This process, which is known as ‘oracle security’, enables the secure and reliable retrieval of data from outside of the blockchain. Who Founded it? Chainlink was founded by Sergey Nazarov, Steve Ellis, and Ari Juels in 2017. Nazarov had already been active in the blockchain space, having co-founded the pioneering smart contract platform Scorex. In the early days of Chainlink, Juels served as the project’s scientific advisor. What Makes It Unique? What makes Chainlink so innovative is the fact that it provides an automated method for securely connecting smart contracts with external data sources. This process is known as ‘oracle security’, which ensures that the data retrieved from external sources is accurate, reliable, and secure. Chainlink also integrates decentralized data providers, which can be used to ensure that data is sourced from independent sources. This helps to ensure that data is not manipulated or corrupted by malicious actors. Where Does it Used? Chainlink is used for a variety of applications and use cases. For instance, it is used to create smart contracts with real-world data, such as prices and weather. It is also used to connect smart contracts to fiat payment systems and banking infrastructure, as well as API-enabled applications. This makes it possible to securely and reliably store, share, and interact with real-world data and services. Where to Buy/ Sell it? Chainlink can be purchased or sold on a number of cryptocurrency exchanges, including Coinbase, Binance, Kraken and Bitfinex. It is also available to purchase or trade on decentralized exchanges such as Uniswap, Kyber Network and Bancor. One should always do their own research before making any investment decisions. Comments Chainlink is proving to be a reliable and secure way of integrating real-world data into smart contracts. This technology has opened up many new possibilities for blockchain applications and is set to grow and expand even further in the future. For those who are interested in acquiring LINK, it is readily available on a number of cryptocurrency exchanges.