The live price of Chainlink is - per (LINK / USD) with a current market cap of $10.29B USD. 24-hour trading volume is - USD. LINK to USD price is updated in real-time. Chainlink is -% in the last 24 hours with a circulating supply of 657.10M.
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Chainlink (LINK) is a decentralized oracle network designed to connect smart contracts with real-world data sources. Launched in 2017, Chainlink is committed to providing secure, tamper-proof data sources that enable blockchain-based applications to interact with external systems. The network consists of independent node operators who are responsible for retrieving, verifying, and delivering off-chain data to smart contracts. By enabling decentralized access to real-world inputs, Chainlink supports a variety of use cases in decentralized finance (DeFi), insurance, and automated blockchain applications.
The Chainlink (LINK) blockchain network focuses on interoperability and aims to connect off-chain resources, applications, and data to the blockchain ecosystem, facilitating the interaction between smart contracts and real-world data in order to verify the data used on the chain.
Chainlink has established an ecosystem that communicates on-chain and off-chain systems, incentivizing data providers (also known as "oracles") to provide accurate and reliable data. Oracles participating in the ecosystem are rewarded with LINK tokens based on their data.
When participants need off-chain data, they submit requests through the Chainlink protocol. This service level agreement consists of three contracts, each responsible for different functions.
ChainLink's LINK network is the first decentralized oracle network that allows anyone to securely provide smart contracts with access to critical external data, offline payments, and any other API functionality. Anyone with a data feed, offline service (such as local payments), or any other API can provide it directly to smart contracts in exchange for LINK tokens.
Chainlink's supply is strictly limited to 1 billion LINK tokens. Investors receive 35% of the total supply, and node operators and ecosystem rewards receive 35%. Chainlink's parent company SmartContract.com receives the remaining 30% of LINK supply.
LINK tokens enter circulation when the digital currency LINK is sold on the open market as a reward given to node operators, investors who hold LINK, or projects that receive LINK as an acquisition or grant. Currently, the total circulating supply of LINK exceeds 460 million.
Chainlink was founded in 2017 by serial entrepreneur Sergey Nazarov and software engineer Steve Ellis. Prior to Chainlink, Nasarov was involved in a number of projects centered around peer-to-peer technology. In 2009, he co-founded ExistLocal, a peer-to-peer marketplace for tourists. Five years later, he facilitated the launch of CryptaMail, a fully decentralized mail service. Nazarov also co-founded two other companies with Steve Ellis in 2014, including SmartContract.com.
Chainlink's technical advisors include well-known figures in and outside the blockchain industry. Former Google Chairman and CEO Eric Schmidt, LinkedIn CEO Jeff Weiner, and DocuSign co-founder Tom Gunther are all on the list.
According to Crunchbase data, Chainlink has raised a total of $32 million from investors such as Fundamental Labs, Andreas Schwartz, Nirvana Capital, and others.
Chainlink Integrates Google Cloud’s Weather Data
Since 2019, Google Cloud and Chainlink have been working closely together, allowing Chainlink to incorporate Google Cloud data. Chainlink has now fully integrated distributed weather data from Google Cloud in 2021. The Google Chainlink integration uses an oracle node that continuously sends data from the outside world to the Chainlink network. This data is then combined and made accessible to blockchain applications in an aggregated form.
Chainlink is a partner of UNESCO and UNICEF.
Chainlink partnered with UNESCO in January 2021 to raise awareness of blockchain technology and support promising contributors. A few months later, Chainlink announced a partnership with UNICEF to provide funding for blockchain applications in developing countries.
The Chainlink team plans to optimize the protocol through the Chainlink 2.0 white paper in April 2021. According to the white paper, the next phase of the upgrade will focus on enabling a trustless, more decentralized system to run the Chainlink protocol. Notably, one component of this strategy requires the establishment of a profit-driven incentive mechanism. Therefore, by implementing a staking economy anchored by LINK, Chainlink can ensure that malicious node operators are punished and honest data providers are rewarded.
In June 2022, more than a year after the project went live, Chainlink announced that Chainlink 2.0 will allow LINK holders to delegate their shares, allowing more people to participate in the verification process of the protocol. In addition, the upgrade will also include an advanced reputation tracking system that will generate performance indicators for each node operator.
Chainlink is a decentralized oracle network that connects the blockchain ecosystem and the real world. Chainlink supports the operation of complex smart contracts that require off-chain data to function. It is a blockchain-based data protocol that allows independent data providers to relay data to smart contracts.
Chainlink was founded in 2017 by Sergey Nazarov, Steve Ellis, and Ari Juels. Nazarov is currently the company's CEO.
Chainlink started out as a verifiable off-chain data provider but has since expanded its services to include more features in blockchain smart contracts. Chainlink products include high-quality data feeds for all types of real-world information, a random number generator called Chainlink VRF, Keppers for automated smart contract functionality, Proof of Reserves, which allows project owners to publish transparent reports on their on-chain and off-chain reserves, and the Cross-Chain Interoperability Protocol (CCIP), which helps developers build interoperable decentralized applications.
In the Chainlink ecosystem, LINK can be used to incentivize oracle and node operators, or to pay for the verification of off-chain data. In addition, LINK can be staked in a system to be launched in 2022 to earn rewards. The system is called Chainlink Staking V0.1 and is dedicated to improving the security of the Chainlink oracle network. LINK prices are updated in real time on Binance.
As a cross-chain data interoperability platform, Chainlink is powerful and has established important partnerships with multiple institutions such as Ethereum, Cardano, Solana, Polkadot, Terra, Alphabet and Binance.
And because the infrastructure and functions of the Chainlink blockchain platform are built on oracles, other blockchain networks are happy to cooperate with it.
Chainlink data oracles provide high-quality financial market data on cryptocurrencies, commodities, foreign exchange, indices and other off-chain data (such as weather events, sports results, etc.), allowing you to power decentralized applications with secure and reliable data.
The maximum supply of LINK tokens is 1 billion. As of writing, its circulating supply is 538,099,970.
Chainlink's price is affected by factors such as market demand, technological advancement, integration with decentralized applications, partnerships, and overall market sentiment towards cryptocurrencies.
Chainlink uses cryptography to ensure security, trust, and decentralization so that blockchain protocols can access the accurate data they need. To facilitate access to data streams, Chainlink integrates with the main protocol. It then purchases information from many data providers and then continuously transmits this information to the main blockchain.
Chainlink uses the Proof of Stake (PoS) consensus mechanism to protect network security.
You can buy LINK directly from Binance using a debit or credit card. You can also use LINK to trade other cryptocurrencies on Binance. The price of LINK is updated in real time on Binance.
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