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ChainLink is a blockchain platform that is building a protocol to facilitate better usage of smart contracts for real world applications. Launched in 2017 by Sergey Nazarov, the platform’s use cases can roughly be described as focusing on digital agreements.
There are two core components to ChainLink’s architecture: on-chain infrastructure, i.e. smart contracts; and off-chain infrastructure, i.e. real world data meant to be used with the smart contracts. The whole platforms comes together with ChainLink’s decentralized oracle network, which uses multiple nodes to deliver data to smart contracts and avoid single points of failure.
ChainLink node operators can offer an API for purchase by smart contracts, and larger companies can sell their data to smart contracts.
ChainLink is already working with several established companies, including Google and the Web3 Foundation. Founder of popular digital signing platform DocuSign, Tom Gonser, is also an advisor to the project.
The project does not have a roadmap. However, its Github repo and Pivotal tracker offers a good glimpse into development progress. Both contain detailed information on what the development team has in mind for the upcoming months. Current development tasks include multi-account wallets, service agreements and general network upgrades.
1 Aug 2021 1 minute read 0 comments spoopy_mulder
Hello everyone, Breadcrumbs of today, this is not financial advice, remember to DYOR before investing. Take care!!! OASIS NETWORK vs DASH, Who wins? (Coin Royale #29) https://www.youtube.com/watch?v=ELH9hrm6Czo Top (2) ALTCOINs Who Are Still Under...
30 Jul 2021 4 minute read 2 comments Michael Selge
Chainlink is a link between smart contracts and the real world. One of the most popular projects in the blockchain industry. In this article, we will consider what the essence of the project is, how it managed to break into the TOP 15 by capitalizati...
27 Jul 2021 1 minute read 1 comment spoopy_mulder
Hello everyone, Breadcrumbs of today, this is not financial advice, remember to DYOR before investing. Take care!!! Blockchain, Data, and Tokens: The Building Blocks of the Ownership Economy https://medium.com/oasis-protocol-project/blockchain-dat...
13 Jul 2021 3 minute read 8 comments Crypto Adventure
Chainlink is a crypto oracle network introduced in 2017 to provide oracle solutions to the crypto and Defi world. Oracles are tools designed to provide data feeds from the non-blockchain world(off-chain) to the blockchain and smart contract world(on-...
29 Jul 2021 1 minute read 1 comment spoopy_mulder
Hello everyone, Breadcrumbs of today, this is not financial advice, remember to DYOR before investing. Take care!!! Parcel Spotlight: Ruyi Health https://medium.com/oasislabs/parcel-spotlight-ruyi-health-c1ceb187083a?source=rss----9c7442b3d6c1---4...
20 Jul 2021 5 minute read 0 comments CryptoWingnut
Today I am going to explore Chainlink, a blockchain service that allows a Decentralized Application (DApp) to get real world data from a decentralized oracle service, instead of needing to rely on a centralized solution in order to get access to that...
21 Jul 2021 1 minute read 2 comments coinsurprise
Have you ever been curious how every major crypto can follow the Bitcoin price so closely. Bitcoin moves, everything follows, sometimes within nanoseconds, up or down it does not matter. This price correlation is rarely broken, and Ive never seen...
13 Jun 2021 1 minute read 6 comments Hsksks
We all want to know the next best altcoin. Some of the contenders are MakerDAO, Aave, Polkadot, Chainlink and Synthetix. MKR MakerDAO envisions to make Stablecoin ecosystem mainstream. The market price stood at $2,980.2 at 3:15 AM UTC. It has a gain...
10 Jun 2021 1 minute read 3 comments Havall✨
Hey! Did you know that? The first state in the world to use bitcoin as legal tender will be El Salvador. The legislative assembly approved with 62 votes out of 84 the bill proposed by President Nayib Bukele, announced to the world with a video messag...
15 Mar 2021 8 minute read 11 comments MuyAsk
Hey guys :) I’m back with another comprehensive Q&A piece, this time for a new and innovative Defi lending platform with incentivized borrowing – Yield (YLD). Yield is a non-custodial P2P lending dapp that not only incentivizes lending (as per usual...
