Last updated 20/07/2021
Official Website: https://chain.link/
Aiming to connect smart contracts with external data, Chainlink (LINK) held its ICO in September 2017, raising $32 million. With this, they released a total supply of 1 billion LINK tokens. LINK is the digital asset token native to the network used to pay node operators. Currently part of the Ethereum ERC-20 network, Chainlink (LINK) is a decentralised oracle ecosystem. The concept is committed entirely to incentivising a global network of computers to provide secure smart contract interconnectivity by permitting them access to real-world data-feeds and alternative resources.
Chainlink (LINK) is tackling the current gap between blockchain networks and real-world external businesses. They aim to aid this bridge by decentralising the internet to allow and manage connections between blockchain information and the outside world, such as APIs, payments and data management. Chainlink (LINK) motivates data providers (known as oracles) to verify smart contracts and external data points by rewarding them with network’s asset token, LINK. Oracles use this external data to fulfil the prearranged conditions of the smart contract, proving that blockchain infrastructures do not need a single point of vulnerability for smart contract programming.
Essentially a middleware between on-blockchain and off-blockchain data sources, Chainlink (LINK) continues aiming to support all blockchain technology-based smart contracts and real world applications. The protocol’s real use case is supported by their well established list of partners, including the traditional business input from SWIFT and Google, as well as development plans with Polkadot and Synthetix who are already part of the blockchain space.
You can find the full Chainlink team here. Chainlink (LINK) was created by its current CEO Sergey Nazarov and current CTO Steve Ellis. Their objective; to empower the next phase and future generation of smart contracts and real-world applications to expand beyond tokenization and become the mainstream means of digital agreement.
Sergey Nazarov (Founder and CEO) – Sergey Nazarov joint the cryptocurrency race in 2011 after starting his career at FirstMark Capital. A veteran of the blcockhain space, Nazarov also founded the Secure Asset Exchange, a cryptocurrency exchange as well as the centralised email service CryptoMail.
Steve Ellis (Founder and CTO) – Steve Ellis gained experience as a software engineer with Pivotal Labs. An avid supporter of Ethereum, Bitcoin and the decentralised internet, he has also worked on the Secure Assett Exchange platform.
Ari Juels (Technical Adviser and ChainLink Developer) – Ari Juels’ name is at the top of Chainlink’s whitepaper for a very good reason – he co-authored it. Currently a faculty member at the Jacobs Institute at Cornell Tech, he was previously Chief Scientist of RSA, The Security Division of EMC. Today, he is one of ChainLink’s central advisers.
Andrew Miller and Hudson James (Strong Technical Advisors) – Both Andrew Miller and Hudson Jameson are well-known authorities in decentralised consensus research and smart contracts. Miller, a professor of science at the University of Illinois and Jameson, an Ethereum Developer, are both key supporters and advisors for ChainLink (LINK) and its protocol.
Chainlink origins date back to September 2014, when its parent company SmartContract.com was founded to address the interconnectivity between external data sources and public blockchains. The team eventually developed a product called Chainlink that allows smart contracts to connect to data feeds from any web API and data source.
September 2017 – SmartContract Chainlink Ltd raises $32 million in an Initial Coin Offering creating 1 billion LINK tokens.
November 2018 – Chainlink acquires TownCrier.
May 2019 – Chainlink is launched on Ethereum mainnet and went live.
June 2019 – ChainLink and Oracle announce their partnership to start supporting startups monetise their API’s on the ChainLink platform.
June 2019 – ChainLink and Google Cloud declare collaboration to ease access to cloud data for developers on public blockchains using ChainLinks oracles.
October 2019 – Cryptocurrency leading exchange platform Binance partner with Chainlink to help expand its crypto data sharing capabilities with other blockchain platforms.
March 2020 – Ethereum Classic Labs and ChainLink combine forces introduce decentralised oracles and external data feeds to the Ethereum Classic protocol.
Chainlink has many plans for the future and you can keep up to date with all their announcements here.
Chainlink (LINK) is held in a wallet like many other cryptocurrencies. LINK is an ERC20 token and can be held in any Ethereum based wallet, if compatible. Some ERC-20 compatible wallets that can hold LINK are listed below:
As LINK is built on the Ethereum (ETH) network, coins can be stored in any wallet that support Ethereum-based transactions. Exodus is a popular desktop platform to store LINK for its user-friendly features and multi-currency compatibility. The platform also presents a real time portfolio valuation and tracks the value of assets held.
Atomic Wallet is an alternative wallet option with similar ease of use features as well as leading hardware wallet, Ledger. Always conduct your due diligence and research into any wallet provider you consider and ensure you back up your wallet.
You can Buy LINK by heading over to the Buy Coins page of our website. LINK is available on BC Bitcoin trading against major fiat currencies: GBP and EUR. Buying LINK has never been easier, simply place your order and provide your wallet address. Once your payment arrives LINK will be sent directly to your wallet.
Block Explorer: https://etherscan.io/
Disclaimer: The information provided in this article is intended for informational purposes only. It is the readers responsibility to complete their own research and due diligence.