Chainlink current price is $20.840 with a marketcap of $9.71 B. Its price is -10.32% down in last 24 hours.
- Chainlink (LINK)
- Live Price $20.840
24h % -10.32%
- Market Cap$9.71 B
- Volume$2.27 B
- Available Supply467.01 M LINK
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¿What is Chainlink?
According to the developers, ChainLink is the middleware that connects the blockchain and smart contracts. ChainLink is such a cryptocurrency which people can use for any payment or transaction on the platform.
The San Francisco fintech company launched ChainLink in June 2017. It uses smart contracts which access key off-chain resources such as web APIs, traditional bank account payments and data feeds.
ChainLink has its own cryptocurrency called LINK token. ChainLink created its Link Token to pay node operators. Users can use it as the transaction medium on the ChainLink network. The price of its cryptocurrency keeps changing every single moment.
The ChainLink Network is a decentralized network of ChainLink Nodes. The ChainLink Network contains two separate parts: on-chain and off-chain. To deliver the service they must interact. The ChainLink network is upgradable.
The on-chain component of the network is based on the metrics requested by a party to a smart contract. It filters oracle using a services level agreement (SLA). The off-chain component of the network contains oracle nodes connected to the Ethereum network. The ChainLink system ensures accurate results from the Oracle.
What are Its Features?
- Provides service level agreement (SLA) which assists to search oracle in the ChainLink system.
- Provides its users with the option to apply penalty fees for misbehavior.
- It allows smart contracts connecting securely to the off-chain data and APIs.
- It provides with the external data to trigger smart contracts execution.
Technology ChainLink Uses
The ChainLink platform basically built on blockchain technology. It uses Oracle. Users can find Oracle in the ChainLink network by using a service level agreement (SLA). The off-chain oracles transmit the requested data to the blockchain for on-chain nodes to process by carrying out the service agreement. ChainLink also uses smart contracts with cryptographic code.
Chainlink Markets / Exchanges