Chainlink (LINK) Update: New Partnerships and Latest Price Action

Chainlink LINK

What is Chainlink?

Here is how Binance Info describes Chainlink:

“Chainlink (LINK) is a decentralized network that provides information (oracles) to smart contracts.

“Founded in 2017 by Sergey Nazarov and Steve Ellis, Chainlink aims to solve the problem of off-chain information sourcing by smart contracts for their execution parameters. Smart contracts are designed to execute automatically when certain parameters are met, however, when these parameters exist off-chain there is a reliance on sources of information (known as oracles) to provide the necessary information. Off-chain oracles tend to be centralized and with it comes a reliance on a third party to provide critical information in a trustworthy and time critical manner.

“Chainlink aims to break this reliance by feeding information to smart contracts via a network of decentralized oracles that work together on the Link blockchain to verify and forward critical information to these contracts. The ChainLink network allows users who have either a data feed or information carrying APIs to easily provide information to smart-contracts in exchange for the LINK token.” Read More

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When I came up with Ethereum, my first first thought was, 'Okay, this thing is too good to be true.' As it turned out, the core Ethereum idea was good - fundamentally, completely sound

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