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Chainlink what it is, how it works
Chainlink what it is and how it works
ChainLink is a decentralized oracle (blockchain-based software), which provides external data to Ethereum's smart contracts.
ChainLink is an open source project, started in September 2017 by a SmartContract company.
This company had already been creating safe oracles for Bitcoin and Ethereum for over 3 years, but in 2017 they decided to switch to their own ChainLink middleware.
ChainLink is currently run by 3 developers.
The idea behind ChainLink is to act as a connection bridge between blockchain and external software, such as various payment systems (Visa, Paypal), market data (NYSE, Bloomberg) and backend systems (SalesForce, SAP).
This allows blockchain to be integrated with off-chain sales and local payments, to turn them into smart contracts in exchange for LINK tokens.
The LINK token is an Ethereum EIP20 token with some additional functions.
The ICO for LINK Tokens was completed in September 2017, raising a total of $ 32.00 M.
Currently ChainLink only works with Ropsten, an Ethereum test network.
ChainLink Statistics (Link)
The numbers that follow obviously relate to today, at the time of this writing
Where to Buy ChainLink (Link)
The simplest and safest platform to buy Link is undoubtedly Coinbase.
If you don't know how to use Coinbase, you can follow the detailed guide:
Buying Bitcoin and other Cryptocurrencies COINBASE 2019 Guide
Where to Store Link
If you decide to invest in Link for a short period or maybe do trading, you can safely use the BINANCE wallet by registering on the site.
Or keep them directly on the Wallet made available by Coinbase.
While if you intend to invest in the long term it is better to use a hardware wallet, such as the Legder Nano or the TREZOR .
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