How to buy ChainLink (LINK)
What is ChainLink (LINK)
Chainlink is a decentralized oracle network founded in June 2017 by the company SmartContract. The project connects smart contracts with external data sources such as APIs and information systems. Projects that depend on off-chain events or information can easily integrate these triggers and feeds into their on-chain code. Chainlink also offers a suite of other products, such as data reporting, result aggregation, and random variable generators.
LINK is Chainlink’s native ERC-677 token that is used to pay for the network’s oracle service. LINK has a limited one billion supply that was distributed via an ICO. There is no mining or staking involved in releasing coins, but Chainlink does have a Proof of Stake-based consensus mechanism for choosing who verifies transactions.