Chainlink
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- Ireland to probe Google’s AI model for data protection complianceCointelegraph.com News – 8 hours agoThe DPC’s inquiry into Google’s AI model development explores the handling of EU citizens’ personal data for training PaLM2. The Data Protection Commission (DPC), the…
- Trader’s acquisition of $1.5M CryptoPunk for $23K raises eyebrowsCointelegraph.com News – 8 hours agoA trader acquires a rare Ape-themed CryptoPunk valued at $1.5M for just 10 ETH using a smart contract mechanism that allows a shotgun buyout. A…
- China 6 months behind US on AI, says Google’s former region headCointelegraph.com News – 10 hours agoThe former president of Google China says he expects the AI-powered apps to take off much faster in China compared to the United States. Chinese…
- Ethereum needs ‘refined messaging’ to entice Wall St — Attestant execsCointelegraph.com News – 11 hours agoEthereum will become an attractive investment to institutions, but needs better marketing and given time to develop, says Attestant adviser Tim Lowe. The broader market…
- WeWork founder’s crypto startup refunds investors after no token launch: ReportCointelegraph.com News – 11 hours agoFlowcarbon reportedly cited tough market conditions and resistance from carbon registries as the main reasons behind the refunds. Flowcarbon, a blockchain-based carbon credit platform co-founded…
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.
