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- r/chainlink
- Here’s what happened in crypto todayCointelegraph.com News – 10 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…
- Bitcoin ‘could’ consolidate for ‘4 or 5 months,’ but big cup and handle looks promising — AnalystCointelegraph.com News – 10 hours agoAnalysts say Bitcoin price could range trade for up to 5 months, but longer-term technical and on-chain data continues to point to a 6-figure BTC…
- US Senate passes resolution overturning SEC crypto rule on banksCointelegraph.com News – 11 hours agoU.S. President Joe Biden said he intended to veto the joint resolution aimed at overturning an SEC rule requiring banks to keep customers’ digital assets…
- Vitalik Buterin says GPT-4 has passed the Turing TestCointelegraph.com News – 11 hours agoButerin’s comments reference new research indicating most humans can no longer tell when they’re talking to a machine. OpenAI’s GPT-4, a generative artificial intelligence (AI)…
- India’s SEBI recommends local regulators to monitor crypto tradingCointelegraph.com News – 11 hours agoDocuments reveal SEBI’s recommendation for distributed regulatory oversight of cryptocurrencies in India. The Securities and Exchange Board of India (SEBI) has suggested that multiple regulators…
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.