Buy Chainlink (LINK)
What is Chainlink (LINK)?
Chainlink (LINK) is a decentralized oracle network. The purpose of Chainlink is to bridge data between smart contracts on the blockchain platforms and data, APIs and other external systems using their nodes.
How does Chainlink work?
Chainlink (LINK) therefore serves as a bridge by bringing external data to the blockchain. This is accomplished by using Oracle, which collects reliable and verifiable data from trusted sources outside the blockchain from the real world using node operators. The collected data is then implemented by the node operators in a secure and precise manner into the smart contracts, which therefore become more versatile and can be used for multiple purposes. By working with multiple Oracles instead of a single entity, the data delivery takes place reliably. With this, Chainlink reduces the risk of manipulation or incorrect data.
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Why Buy Chainlink with Anycoin?
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Additional information about Chainlink (LINK)
What can LINK be used for?
The LINK token aka Chainlink's cryptocurrency is primarily used to pay out rewards from Oracle. In addition, the LINK token is also used as a means of payment within the network and can be used as applications in DeFi, Supply Chain management, gaming and more.
Who are the founders of Chainlink?
Sergey Nazarov and Steve Ellis co-founded Chainlink (LINK).
Sergey Nazarov is well known within the crypto industry due to his background as an entrepreneur and blockchain technology. For example, Sergey Nazarov has been instrumental in promoting Smart contracts and decentralized Oracles.
Steve Ellis, with his engineering background, has an expertise in software development. With this, he contributed to the creation and development of the Chainlink platform.
In addition to Sergey Nazarov and Steve Ellis, they have a whole team under them consisting of developers and experts.
How can I store LINK tokens?
LINK token is an ERC-20 token and is located on the Ethereum network. To store LINK tokens, you must have a wallet compatible with storing ERC-20 tokens on the Ethereum network.
You can also store the LINK token in the Anycoin Vault. In the Vault, you can easily and securely store, swap, sell or buy your crypto. This is because Anycoin Direct uses cold-storage, making it extra secure. By using the Anycoin Vault, you pay less transaction fees, your cryptocurrencies are securely stored and it offers you the ability to trade easily and quickly with LINK tokens.
The history of Chainlink (LINK)
In 2014, Sergey Nazarov and Steve Ellis founded Chainlink (LINK) to solve the lack of reliable data for smart contracts. To do so, they developed an oracle network named Chainlink to integrate external data sources using smat contracts on blockchain platforms. After a successful ICO (Initial Coin Offering) in 2017, Chainlink grew to become one of the largest blockchain networks. With that, it developed several collaborations within the DeFi, insurance claims and gaming sectors. One such collaboration includes Google cloud.
Chainlink Tokenomics & Governance
LINK is the ticker symbol of their own token and blockchain, Chainlink. The number of tokens on the Chainlink blockchain is between 500 and 550 million tokens. Chainlink's native token (LINK) resides on the Ethereum network and thus serves as an ERC-20 token.
LINK's token also allows people to vote on the future of Chainlink. This keeps Chainlink's network decentralized.
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