In this blog post, we’ll introduce you to the LINK token, as well as the company behind it – Chainlink.
Who's behind Chainlink?
What Is LINK?
The number of LINK tokens is capped at 1 billion, of which about 452 million are currently in circulation. LINK reached an all-time high on May 9th, 2021, with a price of 45 EUR.
What Exactly Are Oracles?
Oracles are an important technical interface between the crypto world and real world databases, applications, and events. They provide smart contracts with verified information outside the blockchain. Smart contracts have previously specified the terms of the contract according to the principle: “If condition X (in the real world) has occurred, Y will be executed”.
- Does the Oracle provider have integrity (reputation contract)?
- What services do other Oracles provide (order-matching contract)?
- Does the data collected match (aggregation contract)?