Cryptocurrency LINK: news of the Chainlink project and chart of the price

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ICO of the project -  09.2017

Standard of token – ERC677, ERC20 Ethereum

Listing -

Market capitalization – around $1 696 843 591

Total issue – 1 000 000 000 LINK

In circulation -  more than 365 000 000 LINK

Coinmarketcap rating - №11

Maximal token price over the time - $ 4,95

Minimal token price over the time - $0,126297

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Review of the LINK cryptocurrency

Chain Link - is a technology of middleware, so called Oracles, organizing secure decentralized networks, that are intermediaries which enable connection of smart contracts of various networks (blockchains) to external resources. The aim is receipt of the information, required for ensuring the guaranteed performance, reliability and security, as well as accuracy of contracts fulfilment. The necessity of using interim oracles by Chain Link is attributable to the fact, that smart contracts can’t get an access to external data on their own (autonomous data and API). This lack of external connection is due to the method, by means of which the consensus with respect to these blockchain transactions is reached, and is a problem for smart contracts of any network.

Disconnection of data and blockchains
Disconnection of data and blockchains

Organizing the decentralized network, Chain Link oracles ensure the very same security guarantees as classic smart contracts, however, at that, they allow several chains of Chain Link to evaluate the same data before they become a trigger, maintaining general value of a smart contract, which becomes highly-reliable, secure and trustworthy.

Connection of data and blockchains by Chainlink
Connection of data and blockchains by Chainlink

In order for the fulfilment mechanism of traditional smart contract of any network to fully “work out”, it needs to unequivocally and precisely understand, whether the very fact or condition, enshrined by the parties of the contract, has occurred or not. In order to make a decision, these very missing object data or information, provided by oracles from external sources (external networks) beyond blockchain, are required. Further on, the data fall into blockchain; and smart contract, having processed the received information, evaluates their compliance with the parameters, enshrined into the very smart contract and, consequently, activated or freezes the mechanism of contract fulfilment. Needs to be mentioned, that information is often transferred by oracle network not from one external source, but from many of them. In this case, smart contract needs to select the most objective or reliable information that arrived from various external sources. Thus, Chain Link organizes for smart contracts the receipt not only of the very information from various decentralized networks, but also contributes to its processing and control over independent suppliers, in order to “extract” the most correct and reliable information.

How Chainlink works
How Chainlink works

A notable feature is that, owing to huge potential of BitCoin and Ethereum blockchains and to opportunity of connection of Hyper Lager, API banks, exchanges, tax services and API of various services thereto (thanks to Chain Link), Chain Link technology can be applied in a broad range of different segments.

Thanks to its technologies, the project encourages the owners, by means of smart contracts, to monetize the data flows or information, API, selling them directly, at that providing the owners with the required collaboration of oracles network.

Blockchain-based apps and smart contracts represent the fast-developing market, requiring the channels of reliable data and various API. Therefore, one can be sure in long-term (not to say permanent) relevance of developments from authors of Chain Link technology for the global community. Having admitted its relevance and viability, the following giants have become the partners of oracles network Chain Link: Google Cloud, Oracle, SWIFT, Gartner, IC3, Web3 Fund and other famous global structures.

With the purpose of interaction and settlements between the smart contracts of external environment and oracle network Chain Link, as well as of implementation of transactions within the network, LINK token was issued, that complies with ERC667 standard and functions under the standard ERC20 Ethereum, supporting its functionality.

Total emission: 1000 000 000 coins

According to various sources, now there are more than 365 000 000 coins in circulation.

On 17th of September, 2017, ICO was conducted, during which the project collected $32 million.

Maximal token price was fixed on 04th of March, 2020 and amounted at $4,95.

Minimal token price was fixed on 23th of September, 2017 and was equal to $0,126297.

Total market capitalization of the project is around $1 671 428 982.

Charts of price and capitalization of LINK token
Charts of price and capitalization of LINK token

LINK token has passed listing on such exchange platforms as Inanomo , Binance, LATOKEN, Coinbase Pro, MXC and is most traded in the following pair combinations LINK/USD, LINK/BTC, LINK/ETH, LINK/USDT .

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