Chainlink (LINK)

Oracle platform - link between payment systems

#17

Marketcap Ranking

2.791779 (6.44%) arrow_drop_up

Market Price (24h change)

977,122,558

Total Market Cap

4

4.5

info_outline What is Chainlink

4.6

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Chainlink Short Description

General Data and Information. Chainlink (LINK) is a decentralized network that provides information (oracles) to smart contracts. Founded in 2017 by Sergey Nazarov and Steve Ellis, Chainlink aims to solve the problem of off-chain information sourcing by smart contracts for their execution parameters. Smart contracts are designed to execute automatically when certain paramenters are met, however, when these parameters exist off-chain there is a reliance on sources of information (known as oracles) to provide the necessary information. Off-chain oracles tend to be centralized and with it comes a reliance on a third party to provide critical information in a trustworthy and time critical manner. ChainLink aims to break this reliance by feeding information to smart contracts via a network of decentralized oracles that work together on the Link blockchain to verify and forward critical information to these contracts.

The ChainLink network allows users who have either a data feed or information carrying APIs to easily provide information to smart-contracts in exchange for the LINK token. Milestones. September 2017 - ChainLink ICO. November 2018 - Town Crier (smart contracts and data privacy projects) acquired. 13th June 2019 - Partnership with Google announced. Utility. The Link Network provides timely and accurate information to smart contracts via a decentralized network of oracles (data feeds and APIs). This information is critical to the effective and accurate execution of smart contracts, as the information required exists off-chain and a reliable method for getting the information on chain is necessary.

The LINK token serves as a payment for smart contracts that utilise the data provided by the Link Network, with oracles that provide accurate information being rewarded in proportion to their staked LINK. Significant Features. Partnerships with major industry players such as SWIFT and Google. Integrations by Ethereum sidechains such as Harmony, Celer and Matic. Average blocktime n/a; Total supply of 1 Billion LINK ; Oracle Consensus written into Ethereum Blockchain via threshold signatures. References: ..

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Chainlink Explanation Video

CHAINLINK | Revolutionizing Smart Contracts | DataDash

What do you think about ChainLink? Do you think it will bring mass implementation of smart contracts to enterprise? Are you bullish or bearish? Feel free to leave a comment below! ...

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Screenshot from Website

chain.link
Chainlink Websitemore_vert

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Website Informationclose

Organization: Unknown
Name: [ "REDACTED FOR PRIVACY", "PRIVACYDOTLINK CUSTOMER 3444952" ]
Country: KY
City: [ "REDACTED FOR PRIVACY", "SEVEN MILE BEACH" ]
Zipcode: [ "REDACTED FOR PRIVACY", "KY1-1202" ]
Address: [ "REDACTED FOR PRIVACY", "PO BOX 30485" ]
Mail: abuse@uniregistry.com
Creation date: 2017-07-27
Expiration date: 2022-07-27
Nameserver: mary.ns.cloudflare.com

build Chainlink Product Analysis

4.5

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Chainlink Whitepaper

Smart contracts are poised to revolutionize many industries by replacing the need for both traditional legal agreements and centrally automated digital agreements. Both performance verification and execution rely on manual actions from one of the contracting parties, or an automated system that programmatically retrieves and updates relevant changes. ChainLink provides on-chain components for (smart-) contracts to gain external connectivity.


The whitepaper of Chainlink is 38 Pages long.

The most influencial keywords are: Oracle, Secure, Contracting, Chainlink, Smart contracts, Data aggregation, Provides, Nodes, Services, and User.

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Chainlink Competitors

  • 1.) 0x

    An Open Protocol For Decentralized Exchange On The Ethereum Blockchain 0x is an open, permissionless protocol allowing for ERC20 tokens to be traded on the Ethereum blockchain.

  • 2.) Power Ledger

    Power Ledger is the world leading peer-to-peer marketplace for renewable energy.

  • 3.) Raiden Network Token

    The Raiden Network is an off-chain scaling solution, enabling near-instant, low-fee and scalable payments. It’s complementary to the Ethereum blockchain and works with any ERC20 compatible token. The Raiden project is work in progress. Its goal is to research state channel technology, define protocols and develop reference implementations.

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Chainlink Product Analysis

Chainlink was founded back in September 2017. Its source code was released publicly on github on November 2017 under the MIT License license.
Organization wise, Chainlinks Development is Centralized and is being developed under the lead of Rory Piant.

The consensus on which the Chainlink network is run is called Not mineable, while the underlying algorithm is called None.
In the current state of Chainlink currently is Alpha version

group Chainlink Community Analysis

3.6

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Chainlink Communities & Events

Welcome to the Chainlink subreddit, a place for focused and technical discussion of decentralized oracles.

view_list r/chainlink Subreddit
person 12,354 Subscribers
directions_run 191 Active Users
create 2 Daily Posts
speaker_notes 6 Daily Comments
linkOpen Subreddit

The Offical Telegram of the ChainLink Community (Please see our pinned post for rules and resources)

view_list Chainlink Official Channel
person 13,157 Members
directions_run 1,083 Online
linkOpen in Telegram

Official Twitter account for Chainlink

view_list @Smart_Contract Channel
person 16,421 Followers
01.29.2020
17:37
Check out BAPI, a bilateral smart derivatives platform built by @VinyasAlex of @NfqAdvisory! The platform was created using technology such as @ethereum, @OpenLawOfficial, #Chainlink, @Kaleido_io, @mythx_platform, and a standard @ISDA template. https://t.co/oKcPEGDqhy https://t.co/lDn7GEWk30 167 favorite
01.18.2020
15:45
Learn why the @AaveAave Protocol chose to integrate with @Chainlink to secure 16 cryptocurrency price data feeds on the Ethereum mainnet in a recent Q&A video. Subscribe to the #Chainlink YouTube channel for the latest video notifications! https://t.co/e0OHYMK0aT 136 favorite
01.15.2020
20:55
Join the #Chainlink community on January 30th at 6pm GMT in London for a meetup organized by @Chainlink_EMEA: "Developing the Future of Smart Contracts" with @clcgio and @North_East_Ltd. Sign up at: https://t.co/MzhdSXLxDi 101 favorite
01.15.2020
14:40
The waiting room for the live stream conversation with @EidJohann for #Chainlink and several members of @AaveAave is now open. Subscribe to the Chainlink YouTube channel for alerts! https://t.co/HZDMd08ojD https://t.co/B0h8a4wiB5 79 favorite
01.14.2020
18:32
On January 30th @ 6pm CET in Berlin, Germany, @EidJohann and #Chainlink node operators will speak at @Chainlink_EMEA's community event about smart contracts and how Chainlink oracles secure DeFi data. RSVP for the event here: https://t.co/rFu1uOo1jE 123 favorite
01.13.2020
15:06
Tune in January 15th @ 10am EST for a live stream chat with @EidJohann for Chainlink, and @The3D_ & Andrey Kozlov of @AaveAave as they discuss Aave's new oracle design powered by #Chainlink. Subscribe to the Chainlink YouTube channel for future alerts! https://t.co/HZDMd0pZbb https://t.co/AQW32JpNmw 136 favorite
01.11.2020
21:12
Learn more about how Chainlink's decentralized oracles are integrated into Loopring's zkRollup DEX protocol for the LRC/ETH price feed. Watch the recent Q&A between Becht Devos, Chief Architect of @loopringorg, and @EidJohann for #Chainlink below! https://t.co/qn56URkftf 192 favorite
01.09.2020
18:41
We just opened up the waiting room to community members to come in and live stream chat w/ @EidJohann of Chainlink & Brecht Devos, Chief Architect of @loopringorg. Make sure to subscribe to the Chainlink YouTube channel for future alerts! https://t.co/HZDMd08ojD https://t.co/si39vQsuLQ 108 favorite
01.06.2020
20:21
Learn how to deploy a Chainlink node using Docker. Join #Chainlink community advocate @Cole_Gendreau for a meetup on Wednesday, January 8th at 6pm MST in Phoenix, AZ at the Microsoft Store. RSVP here: https://t.co/OqTJVZ0iFe 154 favorite
01.02.2020
21:51
Join @chainlink engineer @0xthodges for a meetup tonight (January 2nd) in Plano, TX at 6pm CT on "Creating a Smart Contract with Chainlink" RSVP Here: https://t.co/TXtPTkW2N5 129 favorite
Name Date Description
Berlin Community Event 01.30.2020
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Chainlink Google Trends


The Google Trends chart displays the search interest on google in Chainlink relative to its peak over the last year. A rising chart shows growing interest int he project.

code Chainlink Development Analysis

4.0

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Chainlink Github Analysis

Code Updates (Commits)


Every change to the codebase of Chainlink is registered as a commit. More active projects have many commits, dead projects nearly none.

Code line changes (+/-)


Extending a project results in many new lines of code. Changing existing code results in nearly the same amount of additions and deletions. Projects that are growing show a large number of code additions with relatively few deletions.

Programming languages

Repository Numbers

star 748 Stars
remove_red_eye 137 Watchers
usb 190 Forks
sync_problem 18 Open Issues
border_color 0.06 % Comment Coverage
lock_open MIT License License

attach_money Chainlink Price Analysis

4.1

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Chainlink Price Prediction

$ 2.784555 (0.89%) arrow_drop_up

Predicted USD Market Price in 24h by Coinpaper

$ 2.729538 (-1.1%) arrow_drop_down

Predicted USD Market Price in 14d by Coinpaper

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Converter LINK - USD

Convert between LINK and USD with the live Chainlink prices, aggregated from all big exchanges that trade Chainlink.


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Market insights

Volume from exchanges is considered untrusted if the exchange has little reputation and no License but reports suspiciously high trading volume in particular coins.

account_circle Chainlink Team Analysis

4.8

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Chainlink Team

Chainlink Lead

Sergey Nazarov - Ceo
Starting his career at FirstMark Capital, he left to join the cryptocurrency revolution in 2011. He firmly believes blockchain technology has the ability to change the way societies distribute wealth, enforce contracts, and share critical information.


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Chainlink Team Members (15)

launch

Rory Piant

Community manager

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Thomas Hodges

Integration engineer

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Adelyn Zhou

Director of marketing

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Dan Kochis

Global head of bd & partnerships

John Barker

Software engineer

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Alex Kwiatkowski

Software engineer

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Mark Oblad

Head of operations

Dimitri Roche

Software engineer

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Ari Juels

Technical advisor

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Andrew Miller

Technical advisor

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​Evan Cheng

Technical advisor

remove_red_eye Chainlink Product Review by Coinpaper

4.5

Product description

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Although cryptocurrencies have been in the news for quite some time, there are still some drawbacks and limitations that have continually hindered the technology from being completely adopted as a means of payment and transaction all over the world. ,Issues related to scalability, privacy, security, and physical integration are some of the hindrances that need to be addressed. At the core of the Blockchain technology is the concept of smart contracts, an idea first conceived in 1993.
Smart contracts can be defined as the digital version of legal contracts. The fact that it exists on a decentralized network gives it a beneficial edge because no one can alter it. Smart contracts are executed when a certain number of conditions are fulfilled. However the execution of a social contract requires some data input from the physical world. The Blockchain must acquire and interact with data feeds and an API (Application Programming Interface). The interaction with the physical world requires middleware which is known as an ‘oracle’. Here ChainLink comes into play. ChainLink provides a Blockchain-based secure oracle network (a decentralized source of information) that allows and streamlines the interconnectivity of smart contracts and external resources (Dale, 2019).

4.5

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Chainlink, in real terms, is a middleware that is built to bridge the gap between the Blockchain-based activity and the physical processes involved in a transaction. It redefines the architecture of oracles and brings them onto Blockchain technology. The actual product was supposedly launched in May 2019 (Paradigm, 2019). On the official ChainLink website, anyone can request a ‘Chainlink‘ to connect their smart contracts with external inputs and/or outputs like Data Feeds (Market Prices, IoT events, etc…), Traditional Payments (Bank Accounts, PayPal, etc…), and Cross-chain (Events on another Blockchain). It is based on the Ethereum Blockchain.

4.6

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ChainLink was launched by a company named SmartContract, founded in 2014. Sergey Nazarov and Steve Ellis were the brains behind this project. The CEO, Sergey is an entrepreneur who has had several other ventures previously. The CTO, Steve is a software engineer who has served for other companies as well (CoinSwitch, 2019).

4.4

How things stand

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A lot of research and hard work has been put into Chainlink since it was announced. However, it was not until 2017 that this Blockchain-based cryptocurrency came under radar and started generating waves of a revolutionary product. SmartContract has been working in the background for quite a while now, focusing on the development of the technology rather than marketing it. Their main agenda is to get market leaders and influencers to back them up in order to promote wide-scale adoption of the technology.
ChainLink has a history of partnership with SWIFT, which is the largest global provider for secure financial transactions. SmartContract is working with them to integrate Chainlink technology to carry out financial transactions (Vasileva, 2019). This can produce great results for the future of technology.
The year 2019 has been tremendous for Chainlink, because the CEO, Sergey, finally announced that the much-anticipated Oracle Network will be launched in May 2019. The cryptocurrency’s price valuation experienced a boom after this announcement (Price, 2019).
Chainlink was alongside popular exchanges like Binance and Coinbase. This was a major accomplishment and development for Chainlink as it was selected on popular opinion and on the merit of its technology. Also, the users are showing increasing interest in the Blockchain and the hype is supposedly based on the anticipation of truly revolutionary technology. A number of notable partnerships have been announced by the company which looks very promising.
Although ChainLink has a total supply of 1 billion tokens, the current circulation has only reached around 350 million till now. A large portion of the tokens is still left to be released, and this might trigger a fall in price valuation of the coin.

4.3

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The code is developed by SmartContract who has been working on the project since 2014. According to the company, ChainLink’s decentralized oracle network is capable of providing the same level of security as smart contracts. The technology consists of mainly two parts, the on-chain architecture, and the off-chain architecture. Another protocol known as ChainLink Core is a software that allows the interaction of the on-chain and off-chain infrastructures. Very solid development on GitHub.

4.6

Pro-Contra

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Adoption The acceptance level this year is remarkable for ChainLink. Many new users are indicating their interest in investing in the technology.
Transaction cost There is no official data available concerning the transaction fees of ChainLink, but since the technology addresses the scalability issues that plague other cryptocurrencies, it is expected that it will be fairly low.
Enery consumption The technology does not rely on mining processes to carry out financial transactions and for that reason, it can be counted as an energy-efficient technology.
Decentralization The project’s approach to maintaining decentralization is through three different approaches. This includes distribution of data sources, distribution of oracles and use of trusted hardware. The project guarantees the same level of decentralization as provided by smart contracts themselves.
Product availability The product is already available.
Exchange availability ChainLink has made its debut on many popular exchanges recently, which include Coinbase, Binance, and Kraken.
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Security Relatively low. The coin is relatively new/unproven.
Transactions per second Since Chainlink is based on Ethereum Blockchain, its processing speeds would be worse than that of other cryptocurrencies.
Transaction speed The transaction speed is much lower compared to other cryptocurrencies.
Privacy Transactions with this coin are pseudonymous.

remove_red_eye Chainlink Market Review by Coinpaper

4.4

Foresight

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After the recent paradigm shift of the crypto-markets towards the science of smart contracts, the world might possibly see Chainlink leading the industry of decentralized smart contract oracles.

4.8

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SmartContracts has dedicated a lot of time to working and researching ways to improve the Chainlink project, and finally it has started to bear fruits. The project aims to expand its integration into different parts of financial transactions while upgrading the Blockchain and its software technology to further enhance the performance and usability of the technology.

4.6

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ChainLink has the potential to become the world’s leading decentralized oracle for smart contracts.

4.9

Business

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Soon after ChainLink’s popularity, the world of cryptocurrency experienced a paradigm shift towards the building of smart contracts. So far, there are several alternatives competing with ChainLink technology. Among them are Fondu, Incetivai and Callisto Network.

4.6

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ChainLink rightly cashed its growing hype in the year 2019 as it formed a number of partnerships to grow its network of users. Among the popular partnerships are SWIFT, while rumors of big announcements related to Google and Microsoft are making waves in the community, nothing has been made official yet. In March 2019, CEO Sergey announced partnerships with Synthetix, Provable, Bodhi and Naka Chain. Other partnerships include Olympus Labs, Mobilum and Kaiko. The future looks very promising in light of this notable growth of Chainlink’s user network (Paradigm, 2019).

4.4

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The project has been around for quite some time under the umbrella of SmartContract. Through the years, the team has only focused on developing the technology, rather than marketing it. ChainLink is notorious for its weak connections within its community and meager involvement of its users in its development. However, as said before, 2019 bears good news for ChainLink. The trend of little marketing and inactive community has been changing lately and we may see better representation of the technology on different platforms.

3.0

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The Team is headed by CEO Sergey Nazarov, who is an entrepreneur with a history of starting up several business ventures and CTO Steve Ellis who is a software engineer who is responsible for the smooth running of the technical aspect of the project. The development team includes many other notable software engineers who have proven themselves in the world of cryptocurrency in the past.

4.5

compare_arrows Chainlink Exchanges

Chainlink Markets

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# Exchange Pair Price 24h Volume Trusted
# 1 Binance LINK/USDT $ 2.807329 $ 13,637,337 check
# 2 Binance LINK/BTC $ 2.796661 $ 8,253,844 check
# 3 Coinbase Pro LINK/USD $ 2.789060 $ 5,477,057 check
# 4 Binance LINK/ETH $ 2.808164 $ 746,317 check
# 5 Kraken LINK/USD $ 2.791780 $ 196,744 check
# 6 Coinbase Pro LINK/ETH $ 2.792018 $ 196,463 check
# 7 Binance LINK/TUSD $ 2.803566 $ 172,453 check
# 8 Kraken LINK/EUR $ 2.797525 $ 129,995 check
# 9 Binance LINK/USDC $ 2.807650 $ 116,753 check
# 10 Kraken LINK/BTC $ 2.802115 $ 108,774 check

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