DeFi protocols Available on CoinEx - Chainlink

romanbank (45)in #coinex • 4 years ago

Chainlink Overview

ChainLink is one of the most popular Defi projects existing in the crypto space now. It is a decentralized oracle network that issues real-life data to smart contracts on the blockchain. Chainlink has its own native token called LINK, and it used to pay for services on the Chainlink network.

ChainLink is a decentralized network of nodes that issue data and information from off-blockchain sources to on-blockchain smart contracts by-way-of oracles. Chainlink technology has the feature to secure hardware and resolve the reliability challenges facing the traditional centralized source.

Why ChainLink?

For smart contracts to facilitate agreements beyond those that consent to data found on the blockchain, it requires off-chain data in an on-chain configuration. Moreover, it is very difficult using the same language to connect or equate outside information sources to blockchain smart contracts. This is a big challenge which needs a solution and that is exactly what Chainlink's oracle has come to do. The Chainlink's oracle acts as an intercessor translating data from the real-life to smart contracts on the blockchain.

Generally, oracle has become so useful in the crypto industry with a function to connect off-chain data to on-chain smart contracts; however centralized oracles are faulty, unreliable and not that trusted in on-chain smart contracts. So therefore, Chainlink has developed a decentralized oracle that is more trustworthy, reliable and unfaulty.

How Chainlink Protocol Works?

To understand how the Chainlink protocol works, I will advise you to visit Chainlink official website here

The very vital point about Chainlink is that the project has built a reliable and efficient way of accurate data and information to smart contracts on blockchain that enables smart-contract.

Chainlink Token (LINK)

As I said earlier, *LINK is the native token of Chainlink, it was built on ethereum blockchain (Erc-20) The Chainlink token can be utilized on Chainlink ecosystem. Some of the uses of Chainlink tokens are:

Chainlink tokens can use it to pay Chainlink node operators for their services.
Chainlink can be used by Chainlink node operators to stake in the network etc

Chainlink Statistics

Chainy Price Currently - $11.98
Chainlink ROI - 7,557.37%
Market Rank - #7
Market Cap - $4,194,166,127
24 Hour Volume - $4,714,388,650
Circulating Supply - 350,000,000 LINK
Total Supply - 1,000,000,000 LINK
All Time High - $19.85 (Aug 16, 2020)
All Time Low - $0.126297 (Sep 23, 2017)

Where Can You Buy Chainlink Token?

You can buy Chainlink (LINK) on CoinEx exchange. It is a good exchange with a viable reputation. The exchange is secure, reliable and trustworthy. CoinEx has a lot of liquidity. Chainlink token is among the top 10 cryptocurrency with the highest daily trading volume on CoinEx.