LATOKEN Reviews are created with the intention to keep crypto enthusiasts and LATOKEN traders up-to-date with different protocols and tokens. Today we will talk about Chainlink.
Getting Down to Basics
LINK is currently ranked at #15 according to coingecko, with a market capitalization of $9,144,483,650. There are 437,009,553 LINK tokens in circulation, and the total supply is 1,000,000,000 LINK tokens.
About Chainlink Platform
LINK is the native token of Chainlink decentralized oracle platform. In order to understand the LINK token’s place in the market – we have to review the Chainlink protocol. Chainlink’s decentralized oracle network provides reliable, tamper-proof inputs and outputs for complex smart contracts on any blockchain. The platform is built on a flexible framework that can retrieve data from any API, and connect with user’s existing systems. In addition, the platform can be integrated with any blockchain, now and in the future.
Also, users can independently monitor and verify Chainlink’s open-source code, the performance of its oracle networks, and the quality of individual node operators.
What is the Function of LINK on the Chainlink platform?
LINK serves two functions:
- Users pay with LINK to Chainlink nodes operators when they are requesting smart contracts
- Node operators can stake LINK in the Chainlink network to get rewards
Why does LINK token or Chainlink platform matter?
On LATOKEN Review, we pick tokens that have an edge and differentiating factor. As crypto becomes more mainstream, the number of DeFi protocols will grow. With the demand for DeFi projects, the demand for the need to connect them will also grow. Chainlink is currently among the leading oracle projects in the crypto market, and will likely continue to grow in the near future.
The success of the oracle protocol will likely affect its native token, LINK, positively.
Currently, LINK is listed among the top tokens to buy in July, and it is currently traded at 20 USDT on the LATOKEN exchange.
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LATOKEN crypto exchange does not provide any investment, tax, legal, or accounting advice. This article is written for informational purposes only. Like other assets, cryptocurrency is subject to market risk. Please do your own research and trade with caution.
