The new generation of Oracle
Chainlink is an intermediary with blockchain operating systems and smart contracts. Chainlink ensures that the data that cannot be found in the blockchain is retrieved and used in smart contracts. Improves smart contract communication by giving smart contracts access to trusted data feeds, APIs, payments, and other resources.
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Know more about Chainlink
Anyone who has just researched digital currencies and their charts recently have heard the popularity of the Chainlink (LINK). This popularity comes from a variety of sources, including the company's unique business model. Unlike many existing projects in this field, Chainlink does not seek to compete with other cryptocurrencies. Instead, the platform wants to achieve its goal through its unique protocols.
Chainlink has received a lot of attention recently. As far as the point that the link has reached the market ceiling of nearly $1 billion.
The catalyst for these achievements was the launch of Chainlink on the main Ethereum network in May 2019 and listed on Coinbase. The goal of this project was to create a decentralized speech service. If the founder of this network succeeds, he can change the use of the smart contract and its effectiveness forever.
What problems does Chainlink solve?
Chainlink is trying to fix one of the biggest problems the blockchain network faces, namely how to communicate information. In general, this task is performed by sensors. Sensors can monitor almost anything. Some lectures control the weather, sports scores, account balances, and stock values. All of these are just some of the features of these sensors and this network.
Data entry is one of the most important steps in creating a blockchain. Remember, blockchains are immutable and resistant to censorship. If the information they receive is incorrect, it is very difficult to erase or correct this data. It is also impossible in some blockchains. This is known in the digital community as the "Oracle problem". Chainlink seeks to address these issues through the integration of different next-generation protocols.
The LINK code was generated immediately after its ICO and by October 2017 its value reached $0.47. After falling from above, it climbed again with the rest of the digital currency market in December 2017 and January 2017 and reached its highest price of $1.35 in January 2017.
In 2018, it fell along with the rest of the market and reached the lowest price of $0.1647 at the end of June, but improved until (September 18, 2018) and traded at $0.2872, making it the 50th coin in the digital currency market.
From September 2018 to May 2019, the link price remained approximately $0.25 to $0.50 as digital markets began to recover slowly. May 2019 is the time when prices dropped dramatically due to the encouragement of investors by launching ChainLink in the main Ethereum network.
On the date of (May 1, 2019), Link traded at $0.476462 and reached its highest price of $4.54 as of (June 29, 2019). It returned to the $1.60 area by September, but has been steadily rising since then and has been trading at $2.72 since October 27, 2019.
Achieving a ChainLink project is not an easy task, but if you do, you will easily see how it benefits the blockchain. Blockchain networks are very limited in themselves and require speakers to unlock their potential abilities.
Because Chainlink is one of the few Oracle development projects, it could easily become an industry leader for years to come. Lack of marketing has caused concern in the ChainLink community. But if they succeed in SWIFT, they may not need marketing.
What is the development of Chainlink like?
So what does the original development of Chainlink look like? Well, the best way to understand this is to search their public GitHub.
Given the large number of comments registered on the project's official gateway, we conclude that they are not easily accessible and have a simple multi-layered infrastructure.