Founded in 2017, Chainlink is a blockchain abstraction layer that enables universally connected smart contracts. Through a decentralized oracle network, Chainlink allows blockchains to securely interact with external data feeds, events and payment methods, providing the critical off-chain information needed by complex smart contracts to become the dominant form of digital agreement.
The Chainlink Network is driven by a large open-source community of data providers, node operators, smart contract developers, researchers, security auditors and more. The company focuses on ensuring that decentralized participation is guaranteed for all node operators and users looking to contribute to the network.
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, yEarn and more.
Technical details:
The LINK Network is 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.
The source code:
The code is not available.
Proof of developer:
public team
Verified 0%
Attention. There is a risk that unverified members are not actually members of the team
Opportunities:
With oracle, blockchain technology and smart contract will become vastly more useful. People would be able to execute different kinds of contracts in a trustless manner. I believe ChainLink’s oracle will help blockchain technology reaching mass adoption.
ChainLink’s partnership with SWIFT, which is used by over 11,000 banks worldwide, allows ChainLink to easily partner with other financial institutions going forward.
The team has been working together in the blockchain space for a few years already and came up with functioning products in their previous venture.
Network effect is present because the ChainLink platform is more useful when it is the go-to source for blockchain data feeds, so that users don't need to go to several sources for different types of data.
Concerns:
The team has not been very responsive to community's questions for the past two weeks. This may drive some potential participants away as they may prefer a team with more transparency.
Conclusion:
Overall, I like this ICO both for short- and long-term potential. This is one of the projects that can push blockchain forward and allow smart contracts to be actually “smart”.
Our thoughts of the tokens for short term and long term are as follows:
For short-term holding:
Good because 1) the project has a strong team and advisors, 2) the partnership with SWIFT legitimized ChainLink and provided traction, 3) tokens will be distributed immediately after the end of crowdsale, and 4) a portion (amount unspecified) of the hard cap is already sold in presale.
For long-term holding:
Good because 1) ChainLink is solving a real and highly lucrative problem with tons of use cases, and 2) the project has traction already with SWIFT being a paying customer.
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