ChainLink (LINK) price, market capitalization and tokenomics


The project was founded in the summer of 2017 by SmartContract company located in San Francisco (official site chain-link). The creators are Sergey Nazarov and Steve Ellis.

ChainLink is an open-source decentralized blockchain platform that creates oracles for contract developers to interact with different information providers. Oracles is a necessary middleware that provides access to Ethereum smart contracts.

The main goal is to transform various industries by replacing conventional standard agreements with basic consensus protocols. The creators strive to develop a decentralized system for the secure interaction of external sources with smart contracts.

Participants have the opportunity to distribute and sell data.

ChainLink consists of two parts: an off-chain (consisting of Oracle nodes for independent extraction of information from various resources) and a blockchain. For the system to be fully operational, these two parts must interact.

Currently, the network is compatible with Bitcoin, Hyperledger, and Ethereum, but in the future, it will also support other blockchain projects.

LINK is an internal token used for conducting monetary transactions. Its value depends on the number of node operators rewarded with a LINK token for their services.

Rate article
( 3 assessment, average 5 from 5 )