Chainlink
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- r/chainlink
- US Federal agencies outline key risks for banks eyeing crypto custodyCointelegraph.com News – 21 minutes agoOne risk facing banks that custody crypto is the potential for liability if crypto assets are lost, according to three US financial agencies. Three federal…
- Here’s what happened in crypto todayCointelegraph.com News – 42 minutes 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…
- Congress opens crypto bill debate with claims of ‘GOP giveaway’ to industryCointelegraph.com News – 54 minutes agoDiscussions in the House Committee on Rules opened with crypto bills, but quickly shifted to the Department of Defense Appropriations Act. The US Congress kicked…
- Metaplanet CEO joins investment in Korean company to boost Asia crypto treasuriesCointelegraph.com News – 1 hour agoConsortium uses M&A to advance corporate Bitcoin adoption across Asia Simon Gerovich, CEO of Tokyo-based Metaplanet, is part of a consortium that is negotiating to…
- Solana catches up to competitors as tokenized assets soar 140% in 2025Cointelegraph.com News – 1 hour agoSolana ranks fourth among blockchains by tokenized asset market share, trailing Ethereum, ZKSync Era, and narrowly behind Aptos. Tokenized assets on Solana crossed over $418…
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.