Chainlink
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- Binance founder’s family office backs BNB treasury firm eyeing IPOCointelegraph.com News – 1 hour agoBinance founder Changpeng Zhao’s investment firm is backing the creation of a company that will buy and hold BNB with plans to go public in…
- BONK news update: Will LetsBonk’s surging popularity push the altcoin above $0.000026?Cointelegraph.com News – 3 hours agoBONK is facing profit-booking near $0.000026, but the pullback is likely to find buyers near $0.000020. Key point:BONK has pulled back after the sharp rally,…
- Here’s what happened in crypto todayCointelegraph.com News – 4 hours agoNeed to know what happened in crypto today? Here is the latest news on daily trends and events impacting Bitcoin price, blockchain, DeFi, NFTs, Web3…
- Chinese creditor challenges FTX motion to halt payouts in restricted countriesCointelegraph.com News – 4 hours agoThe motion to pause repayments to residents of certain countries has added a new wrinkle to the FTX saga. A Chinese creditor has filed an…
- Donald Trump Jr. invests in social media-turned BTC treasury firmCointelegraph.com News – 4 hours agoThe Thumzup Media Corporation provides a platform for influencers to market various products on social media to earn revenue. Donald Trump Jr., the eldest son…
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.
