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Chainlink (cryptocurrency)

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Chainlink
Chainlink Logo Blue.svg
Denominations
PluralChainlink
Ticker symbolLINK
Development
Original author(s)Sergey Nazarov, Ari Juels, Steve Ellis
White paperlink.smartcontract.com/whitepaper
Code repositorygithub.com/smartcontractkit/chainlink
Written inSolidity, GoLang
Operating systemBlockchain-agnostic
Source modelOpen source
Websitechain.link
Ledger
Circulating supply420,509,556 (as of 4/19/2021)
Supply limit1,000,000,000

Chainlink (or Link) is a decentralized oracle network and cryptocurrency that provides real-world data to blockchains.[1][2][3] It is one of the main sources of data used to feed information to applications in decentralized finance.[4][5] Chainlink is currently the #12 top crypto currency by market capitalization, down from its top 5 peak in 2020.[6]

History[edit]

Sergey Nazarov founded Chainlink in 2017.[7][8] The whitepaper for the project was co-written by Nazarov and Cornell Professor Ari Juels, who served as a technical advisor.[9] Chainlink raised $32 million through an initial coin offering in 2017. In 2019, Google announced that it was integrating its BigQuery data analytics platform with Chainlink, allowing data from outside sources to be used in applications built directly on the blockchain.[10][11] In 2020, the Associated Press announced that the voting data for the 2020 Presidential Election it was posting to Everipedia used Chainlink.[12][13]

In April 2021, Chainlink released an updated version of its whitepaper.[14]

Design[edit]

Chainlink is a decentralized oracle network that provides data to smart contracts on the blockchain.[15] Its token is Ethereum (ERC-677) based and has technology that delivers price feeds into various decentralized finance applications.[16][17] Link aims to curb dishonest centralized data-feed providers by using a distributed network of nodes to verify data it receives from sources.[6]

References[edit]

  1. ^ "Dollar posts third straight weekly rise after upbeat U.S. payrolls report". Reuters. 2021-04-02. Retrieved 2021-04-19.
  2. ^ Chavez-Dreyfuss, Kevin Buckland, Julien Ponthus, Gertrude (2021-03-15). "Bitcoin falls after weekend record high as India considers a ban". Reuters. Retrieved 2021-04-19.
  3. ^ Anadiotis, George. "Chainlink launches Mainnet to get data in and out of Ethereum smart contracts". ZDNet. Retrieved 2021-04-26.
  4. ^ Anadiotis, George. "Off-chain reporting: Toward a new general purpose secure compute framework by Chainlink". ZDNet. Retrieved 2021-04-20.
  5. ^ "Crypto soars again as traders embrace 'DeFi' and 'yield farming'—but some see echoes of the 2017 bubble". Fortune. Retrieved 2021-05-11.
  6. ^ a b "'Link Marines' Are Making an Obscure Cryptocurrency Red Hot". Bloomberg.com. 2020-08-17. Retrieved 2021-04-19.
  7. ^ "'Link Marines' Are Making an Obscure Cryptocurrency Red Hot". Bloomberg.com. 2020-08-17. Retrieved 2021-04-19.
  8. ^ Bentley, Alden (2021-01-03). "Bitcoin rallies above $30,000 for first time". Reuters. Retrieved 2021-04-19.
  9. ^ "Chainlink Whitepaper".
  10. ^ Castillo, Michael del. "Blockchain 50". Forbes. Retrieved 2021-04-19.
  11. ^ Tucker, Hank. "Google Integrates Cryptocurrency Project With New Smart Contract Tool". Forbes. Retrieved 2021-04-19.
  12. ^ Castillo, Michael del. "How To Track Official Election Results On Ethereum And EOS". Forbes. Retrieved 2021-04-19.
  13. ^ Confidential, Crypto. "Bitcoin Soars Past 15k; Feds Seize $1 Billion Of Bitcoin". Forbes. Retrieved 2021-04-19.
  14. ^ Anadiotis, George. "Chainlink 2.0 brings off-chain compute to blockchain oracles, promotes adoption of hybrid smart contracts". ZDNet.
  15. ^ Chavez-Dreyfuss, Kevin Buckland, Julien Ponthus, Gertrude (2021-03-15). "Bitcoin falls after weekend record high as India considers a ban". Reuters. Retrieved 2021-04-19.
  16. ^ "Biggest Bitcoin Fund Provider to Offer Different Crypto Trusts". Bloomberg.com. 2021-03-17. Retrieved 2021-04-19.
  17. ^ "Minting Dozens of Coins a Day, Speculators Tap Into Crypto Craze". Bloomberg.com. 2020-09-01. Retrieved 2021-04-19.