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Chainlink (LINK) is blockchain middleware that aims to connect smart contracts with real-time information from off-chain resources, such as banks and stock exchanges. This allows smart contracts to access data feeds, application programming interfaces (APIs) and traditional bank payment systems that operate outside the blockchain infrastructure. We’ve compared 20+ exchanges to help you buy, sell and trade LINK in the US.
There are several ways to buy LINK tokens directly with fiat currency (USD, for example). Alternatively, you can buy a widely traded cryptocurrency such as Bitcoin (BTC) or Ethereum (ETH), and then trade that currency for LINK tokens. The basic steps to buy LINK are:
LINK tokens are available on a number of cryptocurrency exchanges around the world, but not all exchanges are created equal. Compare exchanges on fiat currency support, deposit method and cryptocurrencies offered:
Chainlink coins are ERC20 tokens that exist on the Ethereum network. As a result, they can be stored on any Ethereum-friendly wallet, such as the following:
Launched in 2017, Chainlink is an intermediate blockchain that aims to connect blockchains with other off-chain applications. One drawback of smart contracts is that because they’re based on information secured on a blockchain, and because of the way miners reach consensus around blockchain-based transaction data, they can’t interact with external resources such as data feeds and payment systems.
Smart contracts are self-executing contracts performed on decentralized infrastructures and with the terms of the agreement written into cryptographic code. Because they exist on decentralized networks, such as a blockchain, smart contracts cannot be altered and therefore create a relationship that doesn’t rely on trust.
Chainlink acts as a fully decentralized oracle network to help connect smart contracts with external resources, off-chain payments and APIs. The potential applications for this are many and varied, and they include connecting smart contracts with all manner of essential information, such as the following:
For example, let’s assume that there’s an Ethereum smart contract that needs to make a payment through PayPal. There’s currently no compatibility between Ethereum and the PayPal API, which is where Chainlink comes in. By linking the smart contract with the PayPal API, it can ensure fast and secure payment.
LINK is an ERC20 token on the Ethereum blockchain.
The total supply of the LINK tokens is 1 billion.
Chainlink (LINK) has showcased steady growth since its inception back in 2018, even surging during periods when the market as a whole was in decline.
With ETH currently trading above the $1,200 threshold, experts believe that the digital currency is all set to smash its previous all-time high of $1,448.
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