Chainlink
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- What are address poisoning attacks in crypto and how to avoid them?Cointelegraph.com News – 33 minutes agoAddress poisoning attacks involve tracking, misusing or compromising cryptocurrency addresses. Address poisoning involves sending small transactions from wallet addresses that closely resemble a legitimate one,…
- XRP futures OI jumps 30% as price chart ‘pennant’ targets $3.20Cointelegraph.com News – 56 minutes agoXRP’s price breaks out of a “pennant” with a profit target of around $3.20 amid increasing futures open interest. Key takeaways:XRP breaks out of a …
- Fix AI’s data theft problem with onchain attributionCointelegraph.com News – 1 hour agoAI models generate immense value from user data. It’s time to demand onchain attribution and pay the people whose data makes AI possible with Payable…
- Taking acid with ChatGPT, fake band ‘art hoax’ hits 500K streams: AI EyeCointelegraph.com News – 1 hour agoUsers are turning to ChatGPT to guide them through acid trips. Plus Microsoft stacks the deck in dodgy medical superintelligence test. AI Eye A new…
- Quantum computers could bring lost Bitcoin back to life: Here’s howCointelegraph.com News – 1 hour agoQuantum computing could enable the reverse engineering of private keys from publicly exposed ones, putting the security of Bitcoin holders at risk. Quantum technology can…
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.
