Chainlink (LINK)

The exchange rate of one LINK at 15:30 UTC is 16.769$

Chart | Average rate

The Chainlink project, although included in the TOP-20 of the CoinMarketCap rating, is one of the most mysterious on the crypto market, since its concept is based on the functioning of a decentralized network of oracles. Although Ethereum is likely to continue to be the leading system for smart contracts, the developers of Chainlink decided to create a platform that can connect almost all popular blockchains.

That is, “Chainlink” is a protocol for interacting with any crypto network, allowing to synchronize with many off-chain data sources from real life. The site in question was launched in 2017 under the leadership of Steve Ellis and Sergey Nazarov, having raised over $32 million in ICO, and during this time it has managed to become one of the most popular in the field of DeFi finance.

At the same time, Chainlink oracles support all Layer-1 and Layer-2 crypto networks, including Binance Smart Chain, Ethereum, Polygon, Polkadot, Tezos, Solana, etc. Upon that, no matter which ecosystem there is a lot of activity, Chainlink collects general liquidity that data providers can effectively use to monetize their API applications.

As a result, the network effect of this platform is growing exponentially, creating favorable conditions for the development and growth of participating projects that generate many new smart contracts. As a result, it turns out that supply and demand feed each other, as each new client brings additional benefits to the entire blockchain network.

The main purpose of the native cryptocurrency “LINK” is to pay fees for smart contracts and for services provided by masternodes, which have the right to independently set the cost of maintenance. The maximum emission of LINK is one billion tokens, of which 35% were sold during the crowdsale, and another 300 million coins remained with the project managers. Due to the fact that the system under discussion does not have its own blockchain, any wallet that supports Ethereum can be used to store the LINK cryptocurrency, including MetaMask, TrustWallet, MyEtherWallet and other services.

In conclusion, it is worth noting that as the decentralized finance market develops, the need for high-quality DeFi systems is growing rapidly due to a parallel increase in cyber attacks on the wallets of ordinary users. As a result, now many large organizations that are implementing blockchain technologies in their infrastructure are first considering cooperation with Chainlink.