Links LINKS

1. Summary

Ranks

Liquidity

-

Developer

-

Social

45

Momentum (beta)

0

Stack Rank™

-

Price

$0.005230040000 +0.2%

Market Cap

$0.00 (#8528)

Supply

0.00 / 210.17M

Tags

Binance Smart Chain Ecosystem BNB Chain Ecosystem

More Metrics

Price
52W High price	$0.01
52W High date	8th Jun 2024 (5 months ago)
All Time High (ATH) Date	10th Jul 2023 (1 year ago)
ATH Price	$0.08
% From ATH	-93.89%
All Time Low (ATL) Date	6th Sep 2024 (2 months ago)
ATL Price	$0.004914980000
% From ATL	4.68%

Supply & Trading Volume
Trading Volume (24h)	$1,616.00
Total Supply	210.17M
Max Supply	250.00M

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Description

Chainlink (LINK)

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Chainlink (LINK)

Chainlink is a decentralized oracle network designed to bridge the gap between blockchains and off-chain data providers. This technology allows smart contracts to securely access and utilize real-world data from various sources, enhancing their functionality and interoperability.

The Role of LINK Token

The LINK token is the native cryptocurrency of the Chainlink network and serves as a means of payment for services within the ecosystem. Data providers, known as oracles, are incentivized to offer high-quality, accurate data in exchange for LINK tokens. Oracles stake LINK tokens as collateral to ensure the reliability and accuracy of their data.

How Chainlink Works

When a smart contract requires off-chain data, such as stock prices or weather information, it sends a request through the Chainlink network. Oracles provide the required data and are rewarded with LINK tokens for their services. This incentivized mechanism ensures that data providers strive for high accuracy and efficiency, setting the stage for a robust and reliable data sharing ecosystem.

Key Features

• Incentivized distributed oracle network: Chainlink ensures data quality and reliability through the financial stake of oracles in the accuracy of their data.
• Smart contract integration: Chainlink allows smart contracts to securely interact with off-chain data, enhancing their functionality and trustworthiness.
• Hybrid smart contracts: Chainlink supports the creation of hybrid smart contracts by integrating on-chain code with off-chain data infrastructure.

Blockchain Integration

Chainlink's decentralized oracle network can connect with various blockchains, enhancing their capabilities and facilitating seamless communication between different blockchain platforms. The ERC-677 standard, an extension of ERC-20, enables token transactions to contain a data payload, further expanding the potential uses of the LINK token.

In summary, Chainlink is a powerful tool that bridges the gap between blockchain networks and real-world data providers, enhancing the usability and reliability of smart contracts while fostering a culture of data accuracy and trust.

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