chainlink Chainlink (LINK)

-11.34% (24h)
Watches
Рын. CapitalizationVolumeIn circulation
$ 15.35 B $ 3.79 B420.51 M LINK

Chainlink current rate of $ 36.51 on the exchange $ 15.35 B. for the last -11.34% fell for 24 hours.

ChainLink is a decentralized oracle service, the first of its kind. When Ethereum launched in 2015, it revolutionized what blockchain can bring to enterprise solutions and traditional business. Blockchain was no longer just a new century financial transaction vehicle, limited by Bitcoin's potential to disrupt traditional currency exchange. With the help of Ethereum-based smart contracts, Vitalik Buterin opened a Pandora's box to use blockchain technology. The problem is that smart contracts can only manage data on the blockchain. Their potential, the ability to provide tamper-proof decentralized applications for use around the world, is still largely untapped as many smart contract programs built on Ethereum lack access to the real-world industries they are trying to improve.

The first component of ChainLink consists of network contracts deployed on the Ethereum blockchain. These oracle contracts handle requests for data from users wishing to use the oracle's network services. If a user or organization wants to access data offline, they send the user contract (or request a contract) to the ChainLink network, and the blockchain processes these requests into their own contracts. These contracts are responsible for matching the requesting contract with the corresponding oracles. Contracts include a reputation contract, an order reconciliation contract, and an aggregated contract. The first one, the reputation contract, sounds exactly like it sounds: it checks the reputation of the oracle supplier to ensure its integrity. In turn, the order reconciliation contract registers a user contract SLA on the network and collects tickets from the responsible Oracle vendors. Finally, the aggregation contract accumulates the aggregate data of the selected oracles and balances them to find the most accurate result.

Unfortunately, the ChainLink team does not offer a roadmap, but a testnet of ChainLink services should be available sometime during the first quarter of 2018. Generally, the general lack of marketing and specific project updates in the past has frustrated community members. Sergey Nazarov, the project's CEO, is known for his quiet presence in a community that prefers working behind the scenes on ChainLink. The team may not advertise their project strongly, but while worth it, they sacrifice brand marketing in favor of product development, and some community members find this approach refreshing. For example, they created an oracle with Swift Bank and have several quiet partnerships with zepplin_os and the Request Network.

Chainlink can link smart contracts to the outside world. This could allow parties to smart contracts to receive external performance validation inputs and generate the payment outputs that end users want to receive, such as bank payments. This could enable a smart contract to mimic the vast majority of financial agreements currently available on the market. With the ChainLink network, anyone can securely provide smart contracts with access to key external data and any other API capabilities in exchange for financial rewards. While it remains to be seen how the incentive system will work, there is potential for rewards similar to those available to cryptocurrency miners that will be available to the operators of the nodes that provide payload to the Chainlink network. ”

Visit CoinBureau for a complete Chainlink review.


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10 Chainlink (LINK)
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365.10 USD

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