LINK

Chainlink price

LINK
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$7.53

+$0.863 (+12.93%)

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Market cap
$3.54B
Volume (24h)
$424.29M
Circulating supply
467,009,550

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₮7.53$7.54
+12.92%
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About Chainlink (LINK)

About Chainlink (LINK)

Chainlink is a decentralized oracle network that provides non-blockchain data to smart contracts in a secure and trust-minimized fashion. The name also refers to an Ethereum token, which takes the ticker symbol LINK, that is used to pay for data retrieval and other Chainlink network functions.

Before viable oracle implementations like Chainlink, smart contract utility was limited. If data was not recorded to the blockchain itself, it was not available for decentralized applications, called DApps, to reference.

Chainlink seeks to expand the utility of smart contracts by delivering requested non-blockchain data to DApps. An example might be a decentralized betting application that automatically pays winning bets upon receiving the result of a sporting event.

It's important that the data transmitted is reliable and cannot be tampered with. To achieve this, the Chainlink network consists of multiple independent off-chain nodes. These Chainlink Oracle Nodes reference on-chain smart contracts known as Oracle Contracts, which receive data retrieval jobs from DApps before publishing them.

Chainlink Oracle Nodes collect and submit data to the smart contract requesting it. The data itself comes from a variety of external sources, including repositories, databases and APIs. To ensure reliability, Oracle Nodes often reference multiple data sources.

Chainlink is currently live on the Ethereum network but can provide oracle services to other networks, such as Bitcoin's Rootstock (RSK) smart contract layer. The Chainlink team plans to support additional blockchains — particularly, interoperability platforms like Polkadot and Cosmos — in the future. This may see increased Chainlink adoption as a bridge between blockchains and off-chain data sources.

LINK price and tokenomics

Leveraging Ethereum's security, Chainlink does not need to issue new LINK tokens as part of an incentive structure. The supply is, therefore, capped at the 1 billion LINK created at launch. This scarcity, combined with an in-demand use case, may see LINK's price grow as more entities adopt the network's oracle services.

Those requiring off-chain data pay Chainlink Oracle Nodes to retrieve data using LINK. Additionally, DApp smart contracts can request that Oracle Nodes deposit Chainlink — which they forfeit, should they perform poorly. This incentivizes timely retrieval of reliable data and also drives demand for LINK tokens. Continued demand growth, set against a finite supply, may result in an increasing LINK price.

Given its ability to link blockchains with the world outside of them, demand for LINK is already high. An explosion of interest in decentralized finance, or DeFi, kicked off in 2020 and saw Chainlink forge many partnerships. With the aim of eventually supporting multiple chains and even non-blockchain entities, demand — and, by extension, the LINK price — could move higher in future.

About the founders

Chainlink was founded by programmers Sergey Nazarov and Steve Ellis in 2017. The pair also founded the software firm SmartContract, which focuses on developing Chainlink.

Interestingly, the domain SmartContract.com was originally registered in October 2008, just six days before Satoshi Nakamoto published the Bitcoin white paper. In November 2014, ownership of the domain was transferred to Nazarov, perhaps creating a link between the two programmers.

Like Nakamoto, Nazarov is not one for publicity. While not anonymous, he is much less active on social media than the founders of many other major cryptocurrency projects. There is also no predefined roadmap for the Chainlink project. Rather than generating hype, the team prefers to focus on building and improving its blockchain oracle solution.

Chainlink's early development was funded by the $32 million raised by its 2017 initial coin offering, or ICO. The LINK price at the sale was just $0.11. Gradually increasing adoption since the network's May 2019 mainnet launch saw the Chainlink price balloon during 2020. Additional developer funding comes from the 30% of the LINK supply not sold during the ICO.

Learn more about Chainlink (LINK)

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About the founders

Sergey NazarovCEO

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.

Steve EllisCTO

Previously a software engineer and team lead at Pivotal Labs, where he worked on securing sensitive HIPAA compliant data and building scaleable payments automation software. He's a big fan of Ethereum, Bitcoin and the decentralized future we're all building.

Mark ObladHead of Operations

Mark began his career at Gunderson Dettmer, helping manage the growth of leading global hedge funds. Going on to build Valcu, a technical leader in contracts automation software, where Mark saw the large potential of externally connected smart contracts.

Chainlink FAQ
What is Chainlink?

Chainlink is an Ethereum-based blockchain oracle network. It uses its own ERC-677 token of the same name, which you'll often see referred to as its ticker symbol, LINK.

Chainlink provides a secure and trusted bridge between the smart contracts powering decentralized applications and non-blockchain data. This significantly expands the utility of smart contract technology — allowing real-world information to trigger the automatic execution of contracts.

What can Chainlink be used for?

Chainlink has a huge number of potential use cases across a range of industries. Its dominant application today is providing price data to DApps. Smart contracts forming DApps execute automatically when prices hit whatever points are specified.

However, Chainlink Oracle Nodes can provide much more than price data. The system allows for smart contracts to reference almost any non-blockchain information.

Since smart contract technology is so new, the full range of applications is still unknown. However, oracles are already providing weather data, sports results and supply chain information in a trust-minimized way. Chainlink's potential applications will likely increase as new smart contract uses come to market.

What is the difference between Chainlink and Ethereum?

Chainlink and Ethereum are very different projects. Ethereum is a platform on which smart contract-based applications are launched. Meanwhile, Chainlink aims to provide these DApps with data that is not native to the blockchain. That said, both systems attempt to minimize the trust their users need to place in third parties.

Chainlink is built on the Ethereum network. Therefore, it leverages the security of the underlying Ethereum blockchain. The LINK token follows the Ethereum ERC-20 standard. It is used to pay for and incentivize honest data retrieval. ETH, by contrast, exists as a means to pay for transactions and computations on the Ethereum network.

Where can I buy Chainlink?

You can buy Chainlink at the best USDT/LINK price here on OKEx. Just register for an account and get started in minutes.

Once signed up, you'll have access to a world-leading, highly secure digital currency trading platform. No matter what level of experience you already have with cryptocurrencies, we offer the perfect way to buy LINK for all users.

Beginners should start at our quick trade area. This simplified option lets you buy and sell Chainlink with many popular payments methods using a range of national currencies.

If you're a trader or a more experienced user, head over to the OKEx Exchange area. Armed with a host of advanced features, you can fully optimize the profitability of your trading strategy.

Finally, those wanting to buy larger quantities of LINK can visit the OKEx OTC desk. High net worth individuals and institutions can be sure of the best USDT/LINK price without risking slippage.

Is LINK a utility token?

LINK is needed to use Chainlink's oracle services. All payments to and deposits from Oracle Nodes must be paid using the token. It is, therefore, fair to say that LINK is a utility token.

However, many people also use LINK as a vehicle for speculation. With a total maximum supply of 1 billion, Chainlink's price is very responsive to changing demand. If adoption continues to grow, a larger number of users will need to use LINK for non-blockchain data retrieval. This increased demand could see LINK's price rise — hence its speculative appeal.

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Chainlink price statistic

Price today
Chainlink price
$7.53
Price change (24h)
+$0.863
+12.93%
Low and high (24h)
$6.63Low
$7.64High
Volume (24h)
$424.29M
Circulating supply
467,009,550
Market cap
$3.54B

Found any mistakes?

Chainlink FAQ
What is Chainlink?

Chainlink is an Ethereum-based blockchain oracle network. It uses its own ERC-677 token of the same name, which you'll often see referred to as its ticker symbol, LINK.

Chainlink provides a secure and trusted bridge between the smart contracts powering decentralized applications and non-blockchain data. This significantly expands the utility of smart contract technology — allowing real-world information to trigger the automatic execution of contracts.

What can Chainlink be used for?

Chainlink has a huge number of potential use cases across a range of industries. Its dominant application today is providing price data to DApps. Smart contracts forming DApps execute automatically when prices hit whatever points are specified.

However, Chainlink Oracle Nodes can provide much more than price data. The system allows for smart contracts to reference almost any non-blockchain information.

Since smart contract technology is so new, the full range of applications is still unknown. However, oracles are already providing weather data, sports results and supply chain information in a trust-minimized way. Chainlink's potential applications will likely increase as new smart contract uses come to market.

What is the difference between Chainlink and Ethereum?

Chainlink and Ethereum are very different projects. Ethereum is a platform on which smart contract-based applications are launched. Meanwhile, Chainlink aims to provide these DApps with data that is not native to the blockchain. That said, both systems attempt to minimize the trust their users need to place in third parties.

Chainlink is built on the Ethereum network. Therefore, it leverages the security of the underlying Ethereum blockchain. The LINK token follows the Ethereum ERC-20 standard. It is used to pay for and incentivize honest data retrieval. ETH, by contrast, exists as a means to pay for transactions and computations on the Ethereum network.

Where can I buy Chainlink?

You can buy Chainlink at the best USDT/LINK price here on OKEx. Just register for an account and get started in minutes.

Once signed up, you'll have access to a world-leading, highly secure digital currency trading platform. No matter what level of experience you already have with cryptocurrencies, we offer the perfect way to buy LINK for all users.

Beginners should start at our quick trade area. This simplified option lets you buy and sell Chainlink with many popular payments methods using a range of national currencies.

If you're a trader or a more experienced user, head over to the OKEx Exchange area. Armed with a host of advanced features, you can fully optimize the profitability of your trading strategy.

Finally, those wanting to buy larger quantities of LINK can visit the OKEx OTC desk. High net worth individuals and institutions can be sure of the best USDT/LINK price without risking slippage.

Is LINK a utility token?

LINK is needed to use Chainlink's oracle services. All payments to and deposits from Oracle Nodes must be paid using the token. It is, therefore, fair to say that LINK is a utility token.

However, many people also use LINK as a vehicle for speculation. With a total maximum supply of 1 billion, Chainlink's price is very responsive to changing demand. If adoption continues to grow, a larger number of users will need to use LINK for non-blockchain data retrieval. This increased demand could see LINK's price rise — hence its speculative appeal.