What is Chainlink?
Chainlink is a decentralized Oracle network, created to power smart contracts of any blockchain.
Oracle today is seen as a decentralized service with the sole goal of transferring data from the real world into blockchains. Oracle’s role in the blockchain ecosystem is to enhance the performance, functionality, and interoperability of smart contracts.
With the increasingly important role of Oracle networks, Chainlink has developed Chainlink 2.0 with the vision of becoming a utility that can provide data blocks for systems beyond the blockchain ecosystem. In other words, any individual can receive data on-chain and off-chain by connecting his smart contract to other data sources and third-party APIs. A person can also receive data from outside the blockchain he uses through the Chainlink network.
Chainlink’s outstanding features
- Hybrid smart contract: provide a framework to optimize smart contract capabilities, by composing on-chain and off-chain data into a hybrid smart contract.
- Reduce complexity: provide developers and users with simple features, without the need to be familiar with complex protocols and systems.
- Scalability: ensure to meet the latency and throughput requirements of high-performance decentralized systems.
- Security: pioneer new generation systems that combine blockchain transparency and high security technology for sensitive data.
- Fair transaction processing order: supports a fair order of transactions for end users and prevent other behaviors running by bots.
- Minimize trust: create a layer of highly reliable support for smart contracts and other oracle-dependent systems using highly secure, decentralized blockchain, cryptographic techniques.
- Incentive-based Security: design an attractive reward mechanism to encourage positive, reliable behaviors of nodes.
LINK Token
LINK is a token of the Chainlink decentralized Oracle network, used to pay for using services on Chainlink.
Specifications
- Symbol: LINK
- Blockchain: Ethereum
- Token standard: ERC-677
- Token type: utility
- Total Supply: 1,000,000,000 LINK
- Circulating Supply: 456,509,553.92 LINK (46%)
Token Allocation
The total supply of 1,000,000,000 LINK is distributed as follows:
- Token sale: 35%
- Payout for network participants: 35%
- Development team: 30%
LINK token Price today
How to buy LINK
Chainlink (LINK) has been listed on Attlas Exchange.
Traders can easily and securely buy LINK with lowest fees on Attlas Exchange.
Step 1: Download the app and register an account
Step 2: Select Market on the toolbar at the main screen
Step 3: Select Spot
Step 4: Find LINK
Step 5: Select Buy
Summary
This article is an overview of Chainlink (LINK), not a financial advise.
Users are advised to do their own research before making any trading decisions.