With the vital goal of connecting real-world data with smart contracts on the blockchain, Chainlink develops a decentralized platform fueled by the token LINK, which has managed to stay afloat even during the darkest days of crypto winter. Let’s say you want to build a dApp that specializes in providing real-time sports results. How Does Chainlink Interact with Oracles? Chainlink has currently the 5th highest market capitalization in the cryptocurrency market. But why’s that? The Client Contract makes an initial request call to the LINK token contract. Its technology opens significant perspectives in the IoT sphere, such as food supply management, and other spheres. LINK is an awesome one-year-investment. The turning point that led the project on the road to success and popularity is the strategic partnership with Google Cloud. All the … The best part? The ChainLink (LINK) … Chainlink (LINK): I don’t hold this token but it is currently the number one DeFi token by market cap. Smart contracts running on Ethereum, for instance, don’t have a native way of accessing data outside of the Ethereum ecosystem. In 2019, LINK tokens became one of the most successful crypto assets as the project’s capitalization grew more than six times. This information was actively used in many publications related to Chainlink. Not only it presents the ideal combination of a project with the right technology behind it, but it also has enough resources for further development. It will help to get a grasp of what’s going on in the Crypto Market right now, adjust the trading strategy accordingly, make calculated investment and trading decisions in the future. However, some are warning that the project's 2019 highs are less an … So, is Chainlink a good investment in 2021? Moreover, Chainlink closed 2019 with more than 600% profit, outperforming by far Bitcoin and the rest of the market. Chainlink managed to have the first move advantage, it is currently the most popular and reliable project operating in that specific niche. Chainlink’s idea is to create a decentralized, resistant to manipulation oracle system, which is available round the clock and safe. It needs to be as safe as a cryptocurrency. All technical indicators show that the coin may be headed higher in the near future. Since the previous bull run of 2017, it is fair to say that Chainlink has been the biggest success story in the crypto industry. ChainLink price equal to 27.614 USD at 2021-02-11. Is Chainlink token a good investment? So, the project critics are displeased that only 35% of tokens were sold to the public. It may involve multiple external information. The longer answer is still no, but slightly more nuanced. Analysts are sure: this is why the attention of many members of the crypto community has switched from bitcoin to altcoins, which makes it possible to quickly make money on the purchase and sale of assets LINK. LINK token opened 2020 at $1,80, then the price started to climb until it reached its all-time high at $20 on August, 16th. First of all, Chainlink is not competing against any major project in the crypto space, it’s quite the opposite, Chainlink aims to link public blockchains to off-chain real-world entities such as APIs by using a secure, decentralized, and trustless system. The project has one of the largest and most dedicated communities in the crypto space. Chainlink FAQs Is Chainlink (LINK) a good investment? Using Chainlink, traditional retail VISA, MasterCard, PayPal payments can cause Ethereum smart contracts to execute. One Chainlink (LINK) is currently worth $34.82 on major cryptocurrency exchanges. However, never forget to do your own due diligence, the cryptocurrency market involves high risks, so never invest more than you can afford to lose. To solve this, Chainlink uses a network of decentralized nodes that provide decentralized trustless oracles. It is an Oracle and supplies values to other projects for a fee. This price increase was accompanied by an increase in trading volume following the listing of Chainlink on Coinbase, one of the largest cryptocurrency exchanges. When analyzing its highest volume trading pairs, it reaches an all-time high of $2.22B for USDT, $406.35M for USD, and $193.80M for BTC trading pair. Furthermore, any application, who needs it, will be able to use it. I personally … Why is Chainlink one of the most sought-after cryptocurrencies? T-Systems (a subsidiary of Deutsche Telekom). The current CoinMarketCap ranking is #9, with a … So, Chainlink could be a great long term investment. What Is Chainlink Crypto & Is It A Good Investment? The project is establishing new partnerships and integrations almost every day, thereby locking more LINK tokens. Chainlink has also established many major partnerships with other tech giants such as Intel, Oracle, T-Systems (a subsidiary of Deutsche Telekom), and China’s BSN. The particularity of Chainlink is that the service it offers allows it to have permanent exposure to investors from other projects, which continuously attracts new investors. Bitcoin, for comparison, only ended the year at roughly a 100% return. The last point I wanted to mention about Chainlink is its growing community. Then it connects with Oracle, which makes an external API request and sends the retrieved data back to the Client Contract. According to viewbase, more than 4.6 million LINK tokens have been withdrawn from exchanges during the last 30 days. As of now, the list includes 74 blockchains, 98 DeFi projects, 44 nodes, and 23 data providers. chainlink price coinmarketcap.com Chainlink price prediction 2020. It is very likely that Chainlink will keep up its momentum. So many questions that we will try to answer in an easy-to-understand way even for complete beginners. The short answer is no. Link miners can mine tokens by selling off-chain services and data via an API connected to the Chainlink Network. Required fields are marked *. So, with Chainlink’s help, it is now possible to use smart contracts in the traditional financial system. However, the team representatives do not interfere with the replication of this information, which has such a positive effect on their business’s capitalization. Without the help of an oracle, this dApp wouldn’t be able to interact and receive data from off-chain sources. Yes, LINK is used as part of the reputation formula for node operators and will factor into how the contract listing service rates them. Then, the price of the token started to collapse along with the bear market reaching a low of $0.17 in June 2018. Chainlink is deeply involved in the DeFi space, most DeFi applications and services require off-chain price data sources. However, no matter how the story with the explosive growth in the value of tokens ends, the Chainlink team has chosen the right time to promote their digital asset. The long-term earning potential is 98% in one year. Despite its incredible rise, Chainlink has still significant upside potential. A week after the publication of this information, LINK began to explode in value. That’s where Chainlink comes in! The main problem of different blockchains is the lack of interoperability between them. During this period, Chainlink reached a high of $1,29 during the famous altcoin bull run of January 2018. To get back to our previous example, if eight nodes deliver the same result for a specific football game, and two other nodes deliver a different result, Chainlink uses an Aggregating Contract to discover that those two nodes are mistaken (or even dishonest) and ignore their results. Bitcoin Price Prediction: China FUD, Path back to $13k or $20k? Chainlink Dominant, LINK Prices Slide as Bulls Target $16, Chainlink Price Prediction: LINK Dumps, Drops 12% as Bears Aim at $7, Your email address will not be published. Chainlink currently has a market capitalization of $1.44 billion with the price hovering at $4.11. An incredible rally of +1100% ROI in less than 8 months. In order to use Chainlink oracles, these applications have to run nodes by locking huge amounts of LINK tokens driving the price higher. https://cryptotelegram.com/is-chainlink-link-a-good-investment Chainlink can make the interaction of different blockchains possible. By investigating different crypto communities and searching why is chainlink (LINK) a good investment, you will quickly notice that the majority of crypto investors hold at least a small portion of LINK tokens. However, considering the vast area of application of the technology behind the coin, the cryptocurrency potential is enormous. Chainlink possesses a consistent 14% transparent volume and has been trading on 965 active markets. Also, Chainlink has the advantage of being the first mover within the oracle services niche. Ethereum and Bitcoin, the Chainlink making name for himself. While linking digital contracts to the outside world will increase the scope of smart contracts’ capabilities. At the same time, most of the operations with this cryptocurrency are performed by retail investors with small assets. The point is that Chainlink differs from purely speculative projects and is much safer as it can bring substantial returns. Whatever the reason, this is great news from a token economics perspective. Connecting real-world data with blockchain technology, Chainlink can create a self-sufficient, well-protected global ecosystem. Chainlink Trading Volumes Up 220%, LINK/USD to Near Highs? It was the turning point in LINK’s price action. This article will review this project and identify whether it is a good option for investing in Chainlink crypto. Chainlink has been going absolutely parabolic lately – shooting past $18 before falling down to $16.88 at the time of writing – and it is now the fifth-biggest crypto, according to CoinMarketCap.What is … As a result, Nazarov and Ellis, who participated in the creation of SAE, focused on developing another project called SmartContract. In 2019, the price of LINK token kept following the bearish trend of the market until June 2019 and the announcement of the partnership with Google. Chainlink price today. It’s a must-have for any crypto investor. As per Crypto Rating’s prediction, Chainlink looks to be an excellent short term investment as the price is expected to climb over 96 percent throughout the next six months, bringing … Though Chainlink competes with such projects as Band Protocol, JustLink launched by Justin Sun, and MakerDAO relying on its oracle, Chainlink remains the leader in the sphere. The purpose of this article is to find out if it’s a good idea to invest in Chainlink and try to provide the most accurate and unbiased Chainlink price prediction. Yes, Definitely. Another factor that could have a huge impact on LINK’s price, is the upcoming “staking” feature that will be implemented. The technology provided by the project has been the center of the DeFi boom of 2020, therefore, it made perfect sense to see Chainlink’s price rising and taking advantage of its growing popularity. By connecting a Chainlink oracle, this dApp will be able to receive the needed data and provide all the necessary information to users. Thus, the demand for Chainlink was increasingly growing every day pushing the token price to new highs. Both fundamental and technical metrics are predicting much higher prices for LINK token (current price: $12,58).

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