Chainlink
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- Bitcoin ETFs or not, don’t expect a ‘sexy’ crypto bull run: Concordium founderCointelegraph.com News – 12 hours agoExperts remain divided on when the next bull market is set to kick off, but they all agree on one thing: the next big rally…
- Nic Carter doubles down on theory Bitcoin was invented by NSACointelegraph.com News – 12 hours agoThe decades old ‘NSA created Bitcoin’ theory has again made the rounds on social media, with one Bitcoin advocate adding more weight to his ongoing…
- China suffers worst capital flight in years, but could it pump Bitcoin?Cointelegraph.com News – 13 hours agoChina’s capital outflows reached $49 billion in August, its highest in nearly eight years. Analysts are debating whether it could be a boon for Bitcoin…
- ‘End of an era’ — Consensys sunsets Truffle, Ganache amid shift to MetaMask SnapsCointelegraph.com News – 16 hours ago“No sugar coating this, it’s been a challenging few months,” said Truffle in a social media post on Sept. 22. Ethereum developers are gathering to…
- Binance and CEO Changpeng Zhao ask court to dismiss SEC suitCointelegraph.com News – 16 hours agoBinance Holdings, it’s U.S. counterpart and CEO Changpeng Zhao have filed motions seeking the dismissal of a lawsuit against them by the SEC. Binance CEO…
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.
