Chainlink
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- Bitcoin bulls should 'be careful with longs' as BTC price risks $100K breakdownCointelegraph.com News – 18 minutes agoA potential inverse head-and-shoulders pattern suggests Bitcoin could retest $91,000 before any meaningful bullish breakout resumes. Key takeaways:Bitcoin dropped over 4.5% on May 19, confirming…
- Why is Ethereum (ETH) price down today?Cointelegraph.com News – 44 minutes agoEthereum price is down today after it dropped below a key support zone, but multiple analysts remain optimistic about Ether’s upside. Ether’s price fell over…
- Vitalik Buterin proposes partially stateless nodes for Ethereum scalingCointelegraph.com News – 52 minutes agoButerin warns of the risks of centralized RPC providers and proposes a new node design to ensure trustless, censorship-resistant access to Ethereum as the network…
- How to read a Bitcoin liquidation map (without getting liquidated)Cointelegraph.com News – 1 hour agoBitcoin liquidation maps help track whale moves, predict price swings and stay safe from forced liquidations in volatile crypto markets. Understanding a Bitcoin liquidation map…
- Metaplanet scoops 1,004 Bitcoin in 2nd-biggest buy everCointelegraph.com News – 2 hours agoJapanese investment firm Metaplanet now holds 7,800 Bitcoin, worth more than $800 million, after it made its second-largest single Bitcoin purchase. Japanese investment firm Metaplanet…
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.
