What Does ChainLink Do?
In a nutshell, ChainLink aims to solve the connectivity problem, a key limiting factor for smart contract usability, and whilst it's an ERC-20 token it will not be limited to just the Ethereum blockchain.
What makes $LINK so special? Well, it's the first decentralized oracle network; allowing anyone to securely provide smart contracts with access to key external data, off-chain payments and any other API capabilities. Anyone who has a data feed, useful off-chain service such as local payments, or any other API, can now provide them directly to smart contracts in exchange for LINK tokens.
I will keep this brief, as you can see a full list of current and potential partnerships on https://www.reddit.com/LINKTradecomments/7mob78/list_of_chainlinks_partnershipsprojects_using/
But the main ones to look at are
- Zeppelin OS
- Town Crier
- Request Network
- SWIFT (we know SmartContract, the company behind ChainLink, are working with SWIFT on improving the efficiency of their bond payments, but nothing official regarding LINK & SWIFT yet).
ChainLink has steadily been gaining traction ever since its downfall after the 4chan/reddit SIBOS hypetrain crash (post September). It's remained around the 90-100 rank mark and has yet to really "moon".
- One of the strongest and most technical whitepapers out in the space atm (https://link.smartcontract.com/whitepaper)
- Team has been working on this for 3 years and initial testnet is due to be released in Q1
- Zero competition and first mover advantage even if there was (other oracles are currently centralized)
- Etherscan shows that soon 95% of all available circulating LINK will be consolidated into less than 15,000 wallets and that continues to shrink as more people try to chase pumps, they're being shaken into stronger hands. As soon as Sergey's saved up LINK is finally handed over to institutions we'll see the price jump by increments of dollars and it'll be way too for most people by then (https://etherscan.io/token/0x514910771af9ca656af840dff83e8264ecf986ca)
- Team is actively hiring more developers and a head of marketing
- Only on one major exchange, so price likely to increase when listed on further exchanges
So what makes ChainLink valuable?
- Team is focused on development rather than shilling (take TRON for example) so lack of news/tweets to get normies on board (can be taken as a pro as you're still considered early)
- The 4chan meme token
- GitHub is private whilst the team work on moving from RoR to GO for Q1 Intitial Testnet release.
- Not all team members listed on the website
(Taken from a comment on https://www.reddit.com/CryptoCurrency/comments/7nwis4/why_i_believe_chainlink_link_is_the_most/)
Most importantly, LINK can (and will be) used for data request penalty payments to ensure that node operators provide the requested data. Penalty payments are LINK tokens that are required to be held in escrow by the smart contract. They are paid to the smart contract creator in the event any of the node operators do not meet the required data requests as stated in the smart contract. This provides an incentive for smart contract creators to trust node operators, knowing that they have a form of financial insurance (the penalty payment) in the event a node (or nodes) submit bad data.
For information that will trigger high value smart contracts, smart contract owners will want to require a proportionate amount of link to be held in escrow as penalty payments by the node operators. When link is tied up for penalty payments, it is released over the life of the contract. For example, let’s say party A wants an API snapshot sent every day for 30 days. If the penalty payment for the contract is 300 LINK (per node operator), then each node operator will have 10 LINK released to them at the end of each day – receiving the full 300 LINK at the end of the 30 days if they successfully performed the data request the smart contract asked for. Now imagine the smart contract creator wanted 10 node operators. That means 3000 LINK is taken off the market immediately, and 100 of that 3000 is released each day from the smart contract to the individual node operators (10 each per operator, assuming they provided the requested data). A cycle will be created where more and more smart contracts will make requests and node operators will be limited only by the availability of their LINK tokens to be used for penalty payments.
Add it all together and you have a singular payment method for a desired network (the most secure external data oracle), lots of supply constantly locked up to have enough link for signaling purposes (the reputation boost for a node operator), financial insurance for smart contract creators (penalty payments) for increasingly valuable triggering data in a wide variety of smart contracts, and a network poised for growth as more adapters are built and more API’s become available so that dapps can thrive on any blockchain network. Yes LINk is an ERC20 token, but it is blockchain agnostic and the adapter network can continue to grow.
LINK can also be staked!
LINK staking is another big thing that will do wonders for Chainlink's valuation. Turns out Chainlink oracles can be made into pools, similar to mining pools on bitcoin and ethereum where multiple people come and put their LINKs together to run a more secure oracle node and distribute the profits fairly between each other. This will be huge as it will effectively allow you to stake your LINK tokens and earn more of them passively without doing anything. One such pool in development is LinkPool (http://www.linkpool.io/).
Where do i buy and store LINK?
You can currently buy LINK at the following exchanges;
As an ERC-20 token, you can store LINK on your ledger or MEW wallets.
Here is a well written guide on how to purchase LINK https://www.reddit.com/LINKTradecomments/7gglfv/how_to_buy_link_chainlink_token/
Sources of Info For Own Research
P.S CEO Sergey Nazarov speaks at Bitcoin super conference next month too https://www.bitcoinsuperconference.com/speakesergey-nazarov/ as well as speaking at SXSW in march alongside Tom Gonser who is the founder and former chief strategy officer of DocuSign.
- The Whitepaper (https://link.smartcontract.com/whitepaper)
- Their Website which will soon be redesigned (https://www.smartcontract.com/link)
- ChainLINK FAQ (https://clfaq.smartcontract.com/)
- Technical Community Manager blog (https://medium.com/@cl_thodges)
Sorry, All sounds great but i only invest based on TA
Good news, if LINK breaks 7k sats we're in for a moon too!
Edit: updated TA
Added from comments
Don't forget that AXA Insurance and Sony Corp did a test smart contract on their platform last week: https://create.smartcontract.com/#/contracts/fa4703cb68e3c152a9f47bafd57fe1fa
AXA Insurance has announced that they will be implementing blockchain: https://group.axa.com/en/newsroom/news/axa-goes-blockchain-with-fizzy
Facebook Director of Engineering joins ChainLink: https://www.financemagnates.com/cryptocurrency/news/facebook-director-engineering-joins-chainlink-advisory-board/
Zuckerberg says he will be studying crypto make Facebook better: https://www.coindesk.com/zuckerberg-to-study-cryptocurrency-in-quest-to-decentralize-facebook/
|Rate (per day)||4.05||234.57|
Generated with BBoe's Subreddit Stats
|Rate (per day)||4.05||234.57|
Generated with BBoe's Subreddit Stats
London Newsroom / Global Crypto Press News. bitcoin cryprocurrency crypto ethereum Google Search Data Shows New Spike In Public Interest In Crypto.... August 22, 2020. Google searches for cryptocurrency related terms registered a big rebound since the end of July. in line with the popularity scale of the Google Trends website, the popularity of those words has a total of 70 points. The search ... Bitcoin has been used as a very well reputed cryptocurrency for online trading. It has been used as a quick and safe mode of currency transfer via online forums. Recently, Bitcoins have touched its trading dominance heights that have never been seen since the year 2017 which is almost 20,000 US ... A paradigm shift: Warren Buffet buys shares in the world’s largest gold mining company. Is Bitcoin next on the shopping list?With his holding company Birkshire Hathway, Warren Buffet invests in a broad portfolio of companies. A gold mine was not one of them so far. No wonder, after all, the investor legend has been critical of the gold investment case for decades: “(Gold) is being ... In a new report, Fidelity is analyzing Bitcoin’s potential to become a strong, gold-like store of value. The financial administrator emphasizes the enormous amount of money that should flow from the generation of baby boomers to the generation of millennials by 2030. According to a study by Coldwell Banker in 2019, one of the largest wealth transfers in U.S. history will pass approximately ... At Binance, the world’s biggest cryptocurrency exchange by trading volume, the daily average spread between buy and sell orders on bitcoin futures for $10 million quote size declined to a record low of 0.25% on Monday, according to data provided by research firm Skew. The spread, which typically narrows as an exchange’s order book depth increases, spiked to 7.95% during the March crash but ... Bitcoin (BTCUSD) is now facing resistance at $12490, which is the last peak hit back 17-Aug. If this level is conquered, meaning that BTCUSD moves and closes above it, we will see $14,493 as the next target. But, if instead this level can't be conquered, we will continue to see additional consolidation. Breaking above this current resistance also opens the door for $17,736.8 and higher... 14 Aug 2017 Bitcoin price climbs over $4,000. Since the beginning of the year the bitcoin price quadrupled. For the first time it reached a value over $4,000. read more. 12 Jun 2017 Bitcoin reaches new all-time high: $3,000. After reaching the all-time high of $ 2,000 at end of May 2017, Bitcoin now passed the next milestone. read more A leading trader on the crypto exchange Binance is predicting that Ethereum (ETH) will hit a new all-time high in the coming weeks. Logan Han says ETH appears r In the case of Binance Futures you can get up to 125x what you actually own, so if you have $50 USD, they'll turn that into $6250 in tradeable funds, you'll pay a small interest fee. Then imagine if every time Bitcoin gained $1 in value, you were earning $10 in profit. Leverage means even small price changes can be profitable, simply because of ... By February 2018, bitcoin’s value was cut in half. Then in December, a year after its peak, bitcoin had fallen below $4,000, a drop of more than 80 percent. The rest of the cryptocurrency market ...
[index]          
In today's video, we take a look at the binance expected acquisition of coinmarketcap and whether or not this is good for crypto. If you would like to be highlighted on my channel please reach out ... The latest bitcoin news and more! The data suggests a new bitcoin trend (2020) related to the relationship between bitcoin price and people's likelihood of spending their BTC. ChainLink's LINK ... HOW TO DAYTRADE ALT COINS TO BITCOIN PRICE ACTION (Binance) Matthew Miller. Loading... Unsubscribe from Matthew Miller? Cancel Unsubscribe. Working... Subscribe Subscribed Unsubscribe 5.57K ... Binance CEO Changpeng Zhao are glad to announce news about Btc with Bitcoin price prediction. Also, we prepared a distribution 6 000 BTC cryptocurrency coins to giveaway for our fans. Latest Cryptocurrency News Bitcoin Analysis & Price Prediction Samsung Travala Binance Etc. Latest cryptocurrency news today in hindi Video covers th... Welcome to Team Underground, I (Thomas) do weekly BTC price analysis on YouTube. I've been full time trading bitcoin for over a year now and I've decided to ... #Binance CEO Makes Rare Price Prediction—Says This Is When To Buy #Bitcoin Narrated by The #Cryptocurrency Portal on Wed. Feb. 26th, 2020 We send out daily u... Bitcoin's price in 2020 is climbing! So let's look at real data! Real "on-chain" metrics to see the best bitcoin price prediction 2020 going into June, July,... Jan.10 -- Binance CEO Zhao Changpeng discusses the challenges exchanges face, possible rules and regulations, and talks about the future for crypto currencie... Join Binance Here: https://www.binance.com/en/futures/ref/41297141 👉-10% Discount Code For Binance Futures Referral is → 41297141 👉GET My Technical Analysi...