What Is ChainLink?

Chainlink (LINK) is a decentralized oracle network connecting smart contracts (made on Ethereum) with real-world data. Node operators provide smart contracts with access to external data feeds, e.g. API information, in return for a reward in LINK tokens, the native currency. Developed by Sergey Nazarov and co-founded by Steve Ellis, ChainLink held an ICO in September 2017, with a total supply of 1 billion LINK tokens. Operating within a reputation system, node providers that have a large amount of LINK can be rewarded with larger contracts, and, conversely, delivery of inaccurate information results in a deduction of tokens. Much like Ethereum’s ERC20 token, the industry standard for smart contracts on Ethereum’s blockchain, LINK offers the added security of the ERC223 'transfer and call' functionality. Average block time is 6 minutes. For a full selection of markets where you can trade ChainLink for other cryptocurrencies, US dollars, and other fiat currencies, see below.