LINK (ChainLink)

Created by Mehdi Aghazadeh, Modified on Sun, 2 Apr, 2023 at 2:53 PM by Mehdi Aghazadeh

LINK(ChainLink)

Issue Time
2017-09-21
Total Supply
1,000,000,000
Circulation
350,000,000
White paper
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Website
https://chain.link/
Block Explorer
https://etherscan.io/token/0x514910771af9ca656af840dff83e8264ecf986ca

Chainlink (LINK) is a decentralized network that provides information (oracles) to smart contracts. Founded in 2017 by Sergey Nazarov and Steve Ellis, Chainlink aims to solve the problem of off-chain information sourcing by smart contracts for their execution parameters. Smart contracts are designed to execute automatically when certain paramenters are met, however, when these parameters exist off-chain there is a reliance on sources of information (known as oracles) to provide the necessary information. Off-chain oracles tend to be centralized and with it comes a reliance on a third party to provide critical information in a trustworthy and time critical manner. ChainLink aims to break this reliance by feeding information to smart contracts via a network of decentralized oracles that work together on the Link blockchain to verify and forward critical information to these contracts. The ChainLink network allows users who have either a data feed or information carrying APIs to easily provide information to smart-contracts in exchange for the LINK token.