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Chainlink (LINK) Price:


Buy Chainlink (LINK)

BinanceBest for Australia, Canada, Singapore, UK and most of the world. USA residents are prohibited from many of the tokens on this platform. Use Discount Code: EE59L0QP for 10% cashback off all trading fees. 

Kraken is the best option for USA residents.

If you would like to invest via an IRA it is also available on iTrust Capital.

About Chainlink (LINK):

Chainlink is a decentralized oracle service that allows smart contracts to interact with external data feeds. The Ethereum-based project is very popular in the cryptocurrency space, especially among Decentralized Finance (DeFi) projects. According to Chainlink, their oracle “provides reliable, tamper-proof inputs and outputs for complex smart contracts on any blockchain.”

LINK is the native token of the Chainlink platform. The total supply of LINK tokens is capped at 1 billion, and the circulating supply is over 419 million.

To learn more visit our Investing in Chainlink guide.

History

Chainlink Labs was founded in 2017 by Sergey Nazarov, a teacher at the NYU Stern School of Business and co-founder of CryptoMail, a decentralized, blockchain email company, and SmartContract, a solution for connecting smart contracts to external data.

In the 2017 Initial Coin Offering (ICO) of the LINK, Chainlink managed to sell 35% of the 1 billion available tokens. Thirty percent of the total token supply was allotted to the founding company. The remaining 35% were sold through public sales.

Features

Chainlink uses the proof-of-stake (PoS) consensus protocol. PoS is different from the proof-of-work (PoW) protocol because, in a PoS network, a set of nodes stake their cryptos for transaction validation.

PoS is more energy efficient because there is no need to spend resources on mining for coins. Another feature of PoS models is that the entire network is not involved in the validation process, which helps with improving the scalability of the projects using the protocol.

DeFi projects often need solutions that connect smart contracts with external data. A good decentralized oracle may be a more secure option compared to a centralized one in case of an attack. Chainlink also claims to provide various tools that deliver “transparency and full visibility for the price feeds and the teams participating in them.”

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