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Monday, June 24, 2024

Chainlink (LINK) cryptocurrency: Founder, origin,Price, Market cap, future.

Chainlink is a cryptocurrency aiming to incentivize a global network of computers to provide reliable, real-world data to smart contracts running on top of blockchains. 

The Chainlink network was launched in June 2017 by the for-profit company SmartContract, and the first version was launched the same month. Company co-founders, Steve Ellis and Sergey Nazarov, later published Chainlink’s white paper in September 2017 with Ari Juels, an advisor to the company.

Let’s see some stats about LINK.

Current price of LINK is $32.33 per token (price may be different as market fluctuations).

Market cap of LINK is 13.8 Billion.

Maximum supply of LINK is 1 Billion tokens.

There are many applications or platforms to buy or trade LINK. Some of them are,

  1. Binance
  2. Kraken
  3. Gemini
  4. Coinswitch Kuber
  5. Coinbase
  6. WazirX

There are many advantages and disadvantages of LINK, you should know what are they.

  • Chainlink’s oracle network creates a trustless bridge between blockchains, such as Ethereum, and off-chain data sources, providing a novel solution to the Oracle Problem. 
  • Chainlink is designed to be used with any blockchain, resulting in the potential for many opportunities for integration.
  • Chainlink is a first mover in the decentralized oracle network space and has established partnerships with many organizations, such as SWIFT, other blockchains like Binance and Polkadot, and large corporate entities like Oracle.
  • As smart contracting technology penetrates legacy systems, Chainlink may benefit from increased adoption and the potential growth of the crypto industry as a whole.
  • 60% of the supply remains under the control of the parent company (not freely traded on the market) and there are not yet restrictions regarding the distribution of node operators’ rewards.
  • Chainlink’s oracle network is still quite limited (185 oracles) and could be further decentralized.
  • Since Chainlink is built on Ethereum, issues with Ethereum could also impact LINK.

Cryptocurrencies can be profitable with smart and careful investments. However, education and professional assistance is highly recommended, at least at the start. The cryptocurrency market is a high-risk environment due to its price volatility. Prices can change rapidly over a short period of time, allowing for both great gains and losses. Also, staying in touch with the latest news can be extremely beneficial in predicting both short- and long-term changes. So LINK is same as any other cryptocurrency and is very profitable in future, as well as risky. So invest only that money which you can afford to lose.

LINK might enter 2022 with a trading price above $100. The price might significantly increase every month if the marketers concentrate on investing in Chainlink. It might even hit a high price if it competes well with the other currencies. By the end of 2022, LINK might hit $250 to $300.

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