Chainlink is a blockchain abstraction layer that supports the connection of different smart contracts. Playing a role as a decentralized oracle network, Chainlink allows blockchains to transfer and share data in a secure mode. Like external data feeds, events and payment methods can be shared with each other on the Chainlink network.

And at the same time, in order to expand the function of the blockchain, tamper-proof modifications and reliability are guaranteed.

The Chainlink Network is a decentralized open-source community. Several data providers, node operators, Web 3 developers, smart contract developers, researchers, security auditors and more are involved in the development of the platform. LINK is a kind of reward offered to all node operators and users contributing to the network.

How does Chainlink (LINK) work?

In order to build up a decentralized network and the success of the blockchain, Chainlink allows users to become node operators. And as a node operator, they can earn revenue by running critical data infrastructure. Chainlink can become a sustainable ecosystem that keeps attracting people to contribute to the network.

One of the biggest successes of Chainlink, is inviting the Ex-Google CEO Eric Schmidt to be the strategic advisor of Chainlink. Eric Schmidt has signed on as a strategic advisor to guide the team for its future growth and development.

Chainlink provides users with critical financial market data for issuance, settlement and security for various DeFi applications. The Chainlink network has released numerous price feeds and data, securing tens of billions of dollars in funding for major DeFi applications, CeFi companies, and other financial institutions.

What can LINK tokens do?

LINK is the governance token of Chainlink with several usages:

User fee: Settle the operation fee of the smart contracts run on Chainlink

Reward for technical and service providers: In order to increase the incentive of the service providers and technicians, LINK will be offered as a reward.

Staking: LINK holders will provide tokens to the network to secure the operations and earn rewards.

Here’s the details of LINK:
Total Tokens: 1,000,000,000 LINK coins.
Circulating supply: 470,099,970 LINK coins

How to buy LINK on Bitget?

If you consider Chainlink a potential Blockchain project, you can start to find out more about its native token LINK.

If you would like to know where to buy Chainlink at the current rate, you can establish an account with an exchange like Bitget, and then fund the account with fiat by credit card, Apple pay and Google pay.

Click here to check out the latest price of LINK

Disclaimer: All products and projects listed in this article are not endorsements and are provided for informational purposes only.

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coin.about_expand

what_is.current_price:

$11.43what_is.more_price_detail

what_is.price_high:$52.88

what_is.price_low:$0.1263

what_is.supply_title

what_is.circulate_supply:626,850,000 LINK

what_is.total_supply:1,000,000,000 LINK

what_is.max_supply:0 LINK

what_is.market_cap:$7.17B

what_is.fully_cap:$11.43B

what_is.token_allocation:

Public Sale Events

35.00%

Node Operators and the Incentivization

35.00%

Company Development

30.00%

what_is.tokenomics:

what_is.token_uniqueness

Chainlink is one of the first networks to allow the integration of off-chain data into smart contracts. With many trusted partners, Chainlink is one of the major players in the data processing field. Due to the integration of off-chain data, Chainlink has attracted the attention of numerous trusted data providers, including Brave New Coin, Alpha Vantage and Huobi. Data providers can sell access to data directly to Chainlink, thus monetizing the information they have.

As a decentralized network, Chainlink allows users to become node operators and earn revenue by running critical data infrastructure required for blockchains’ success. Chainlink uses a large collection of node operators to collectively power a wide range of decentralized Price Feed oracle networks live in-production, which currently secure billions in value for leading DeFi applications like Synthetix , Aave , Compound and more.

what_is.token_utility

LINK is used as both a payments token and work token. As a payment token, LINK is used to pay Chainlink node operators for providing oracle services. As a work token, LINK can be staked by node operators as collateral to provide oracle services.

LINK's staking function is optional and specified by smart contract creators requesting oracle services. Failure to provide adequate oracle services would result in a node operator's LINK being deducted. The extent to which LINK is staked will depend on how willing contract creators are to utilize nodes without collateral.