Chainlink price (LINK)
About Chainlink (LINK)
Ever since the emergence of Bitcoin as the first cryptocurrency, the digital currency landscape has expanded, with several other cryptocurrencies stepping into the limelight. If you’re looking to learn about the cryptocurrency name, Chainlink, you have come to the right place as this article deals with the essentials you need to know about cryptocurrency.
What is Chainlink?
Chainlink is a digital asset powering the network of decentralized oracles that provide real-world data and information from off-blockchain sources to smart contracts on the blockchain. In simpler words, Chainlink attempts to bridge the gap between smart contracts on the blockchain and real-world applications.
Unlike other cryptocurrencies out there, the authors of Chainlink designed it to advance the entire sector of virtual currencies rather than compete against them. The Chainlink crypto coin (known as LINK) is the digital asset token used to pay for the various services within the Chainlink ecosystem.
Chainlink was launched by the San Francisco fintech company SmartContract Chainlink Ltd. in June 2017. The founders are Steve Ellis, Ari Juels, and Sergey Nazarov.
How does Chainlink work?
A common question many cryptocurrency enthusiasts often ask is, ‘How does Chainlink work?’ The platform was designed to solve one of the pain points of the industry, which is inability to connect blockchains together and also to connect them to real-world data that exists outside of the blockchain.
The vision of the creators was the possibility of users and developers getting access to varying features of different blockchains without compromising the integrity of the networks. That’s exactly what Chainlink does now. One of the attractions to Chainlink is that it helps in limiting trust in a single party while enabling tamperproof and quality smart contracts.
This means that Chainlink brings us a step closer to the future where traditional legal agreements are done away with, and instead, information is securely stored on the blockchain forever.
Where can you buy Chainlink?
You can buy Chainlink, you can do so from a variety of exchanges. Here are some of the best exchanges to visit:
Binance is a crypto exchange that you can find and buy as many coins as you want including Chainlink. It is not easy to use for most beginners but it has a decent app through which you can purchase or sell your Chainlink.
Coinbase is one of the largest crypto platforms in the world with a presence in more than 100 countries. It’s a safe and reliable place to buy Chainlink.
Gemini is yet another reliable to buy Chainlink from in that it prioritizes security and transparency so it can always protect its customers.
Kraken might be a little difficult to use but once you can find your way around the platform, you will appreciate its uniqueness and a broad selection of coins. You can also buy Chainlink here.
If you’re looking for a cryptocurrency to buy, Chainlink is a good option to consider as it is currently ranked 10th by market cap. But if you’re looking to start a project, don’t forget to buy a cryptocurrency name that increases your chances of success.