Chainlink
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- California introduces ’Bitcoin rights’ in amended digital assets billCointelegraph.com News – 35 minutes agoCalifornia Democrat Avelino Valencia has amended a money transmission bill to make Bitcoin and crypto rights a major focus, potentially benefitting the state’s 39.4 million…
- DeFi protocol SIR.trading loses entire $355K TVL in ‘worst news’ possibleCointelegraph.com News – 2 hours agoBlockchain security researchers say the hack could be one of the first real-world attacks targeting the transient storage that was introduced during Ethereum’s Dencun hard…
- MARA Holdings plans huge $2B stock offering to buy more BitcoinCointelegraph.com News – 2 hours agoBitcoin miner MARA Holdings will offer up to $2 billion worth of its stock, the proceeds of which will partly be used to purchase more…
- Android malware ‘Crocodilus’ can take over phones to steal cryptoCointelegraph.com News – 2 hours agoOnce a targeted banking or cryptocurrency app is opened, a fake overlay launches over the top and mutes the sound while the hackers take control…
- One in four S&P 500 firms will hold Bitcoin by 2030: Crypto advisoryCointelegraph.com News – 4 hours agoTreasury managers would feel pressured to try a Bitcoin strategy for fear of repercussions if they missed out on potential gains. Around a quarter of…
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.
