What Does ChainLink Do?
In a nutshell, ChainLink aims to solve the connectivity problem, a key limiting factor for smart contract usability, and whilst it's an ERC-20 token it will not be limited to just the Ethereum blockchain.
What makes $LINK so special? Well, it's the first decentralized oracle network; allowing anyone to securely provide smart contracts with access to key external data, off-chain payments and any other API capabilities. Anyone who has a data feed, useful off-chain service such as local payments, or any other API, can now provide them directly to smart contracts in exchange for LINK tokens.
I will keep this brief, as you can see a full list of current and potential partnerships on https://www.reddit.com/LINKTradecomments/7mob78/list_of_chainlinks_partnershipsprojects_using/
But the main ones to look at are
- Zeppelin OS
- Town Crier
- Request Network
- SWIFT (we know SmartContract, the company behind ChainLink, are working with SWIFT on improving the efficiency of their bond payments, but nothing official regarding LINK & SWIFT yet).
ChainLink has steadily been gaining traction ever since its downfall after the 4chan/reddit SIBOS hypetrain crash (post September). It's remained around the 90-100 rank mark and has yet to really "moon".
- One of the strongest and most technical whitepapers out in the space atm (https://link.smartcontract.com/whitepaper)
- Team has been working on this for 3 years and initial testnet is due to be released in Q1
- Zero competition and first mover advantage even if there was (other oracles are currently centralized)
- Etherscan shows that soon 95% of all available circulating LINK will be consolidated into less than 15,000 wallets and that continues to shrink as more people try to chase pumps, they're being shaken into stronger hands. As soon as Sergey's saved up LINK is finally handed over to institutions we'll see the price jump by increments of dollars and it'll be way too for most people by then (https://etherscan.io/token/0x514910771af9ca656af840dff83e8264ecf986ca)
- Team is actively hiring more developers and a head of marketing
- Only on one major exchange, so price likely to increase when listed on further exchanges
So what makes ChainLink valuable?
- Team is focused on development rather than shilling (take TRON for example) so lack of news/tweets to get normies on board (can be taken as a pro as you're still considered early)
- The 4chan meme token
- GitHub is private whilst the team work on moving from RoR to GO for Q1 Intitial Testnet release.
- Not all team members listed on the website
(Taken from a comment on https://www.reddit.com/CryptoCurrency/comments/7nwis4/why_i_believe_chainlink_link_is_the_most/)
Most importantly, LINK can (and will be) used for data request penalty payments to ensure that node operators provide the requested data. Penalty payments are LINK tokens that are required to be held in escrow by the smart contract. They are paid to the smart contract creator in the event any of the node operators do not meet the required data requests as stated in the smart contract. This provides an incentive for smart contract creators to trust node operators, knowing that they have a form of financial insurance (the penalty payment) in the event a node (or nodes) submit bad data.
For information that will trigger high value smart contracts, smart contract owners will want to require a proportionate amount of link to be held in escrow as penalty payments by the node operators. When link is tied up for penalty payments, it is released over the life of the contract. For example, let’s say party A wants an API snapshot sent every day for 30 days. If the penalty payment for the contract is 300 LINK (per node operator), then each node operator will have 10 LINK released to them at the end of each day – receiving the full 300 LINK at the end of the 30 days if they successfully performed the data request the smart contract asked for. Now imagine the smart contract creator wanted 10 node operators. That means 3000 LINK is taken off the market immediately, and 100 of that 3000 is released each day from the smart contract to the individual node operators (10 each per operator, assuming they provided the requested data). A cycle will be created where more and more smart contracts will make requests and node operators will be limited only by the availability of their LINK tokens to be used for penalty payments.
Add it all together and you have a singular payment method for a desired network (the most secure external data oracle), lots of supply constantly locked up to have enough link for signaling purposes (the reputation boost for a node operator), financial insurance for smart contract creators (penalty payments) for increasingly valuable triggering data in a wide variety of smart contracts, and a network poised for growth as more adapters are built and more API’s become available so that dapps can thrive on any blockchain network. Yes LINk is an ERC20 token, but it is blockchain agnostic and the adapter network can continue to grow.
LINK can also be staked!
LINK staking is another big thing that will do wonders for Chainlink's valuation. Turns out Chainlink oracles can be made into pools, similar to mining pools on bitcoin and ethereum where multiple people come and put their LINKs together to run a more secure oracle node and distribute the profits fairly between each other. This will be huge as it will effectively allow you to stake your LINK tokens and earn more of them passively without doing anything. One such pool in development is LinkPool (http://www.linkpool.io/).
Where do i buy and store LINK?
You can currently buy LINK at the following exchanges;
As an ERC-20 token, you can store LINK on your ledger or MEW wallets.
Here is a well written guide on how to purchase LINK https://www.reddit.com/LINKTradecomments/7gglfv/how_to_buy_link_chainlink_token/
Sources of Info For Own Research
P.S CEO Sergey Nazarov speaks at Bitcoin super conference next month too https://www.bitcoinsuperconference.com/speakesergey-nazarov/ as well as speaking at SXSW in march alongside Tom Gonser who is the founder and former chief strategy officer of DocuSign.
- The Whitepaper (https://link.smartcontract.com/whitepaper)
- Their Website which will soon be redesigned (https://www.smartcontract.com/link)
- ChainLINK FAQ (https://clfaq.smartcontract.com/)
- Technical Community Manager blog (https://medium.com/@cl_thodges)
Sorry, All sounds great but i only invest based on TA
Good news, if LINK breaks 7k sats we're in for a moon too!
Edit: updated TA
Added from comments
Don't forget that AXA Insurance and Sony Corp did a test smart contract on their platform last week: https://create.smartcontract.com/#/contracts/fa4703cb68e3c152a9f47bafd57fe1fa
AXA Insurance has announced that they will be implementing blockchain: https://group.axa.com/en/newsroom/news/axa-goes-blockchain-with-fizzy
Facebook Director of Engineering joins ChainLink: https://www.financemagnates.com/cryptocurrency/news/facebook-director-engineering-joins-chainlink-advisory-board/
Zuckerberg says he will be studying crypto make Facebook better: https://www.coindesk.com/zuckerberg-to-study-cryptocurrency-in-quest-to-decentralize-facebook/
A Bitcoin ATM allows users to buy and sell Bitcoins for cash. Bitcoin ATM’s can be more expensive than online transactions as the infrastructure cost is higher – i.e. building an actual ATM and the steps that are actually needed to transfer the money and Bitcoins. The first step is to scan her identification which the ATM then validates. Binance is still the largest crypto-to-crypto trading platform but has increased its offering of fiat-to-crypto services among other trading options to see it hold on as the largest cryptocurrency platform in the world. The exchange's low fees and a huge number of trading pairs, as well as strong security features, make it one of the platforms most people recommend for new users and seasoned ... How to buy Bitcoin on Binance. Pros: Low fees, native hot wallet, low minimum deposit. Cons: Slow verification. In order to kickstart your journey on Binance, first you need to register, that much is obvious. Luckily though, Binance does not require too much information during the registration. To use a Coinsource Bitcoin ATM, you need to have an account with us. It’s easy, free, and quick to enroll with your mobile device. Once you have created your Coinsource account, you will need to locate a 2-way (buy and sell capability) Coinsource Bitcoin ATM near you. If you’re planning to withdraw cash, that means you already own Bitcoin and have your transactions stored in a wallet. You ... CoinFlip recommends BRD (for Bitcoin, Ethereum, and ERC20 tokens), LiteWallet (for Litecoin), Dash Wallet (for DASH), Coinomi Wallet (for Binance Coin, and Tron) and Lobstr (for Stellar). You can also send funds directly to exchanges such as Binance, Bittrex, or Poloniex from the ATM. FAQs; Login/Register; How to Sell Bitcoin for Cash joemr626 / September 14, 2020 / Blog, Latest Cryptocurrency News. Ten years ago, Bitcoin was just a new idea that people thought would not survive in the industry. Back then, most people argued that it was yet another overhyped fluke that would soon die off. But look now, 10 years later and it outdid itself. It no longer needs an introduction ... Crypto ATM FAQs. General knowledge. What is an ATM? An automated teller machine (ATM) is an electronic banking kiosk that allows customers to complete basic cash transactions without the aid of a branch representative or teller. Anyone with a credit card or debit card can access most ATMs. What is a Cryptocurrency ATM? A Crypto ATM is a kiosk that allows anyone to exchange cryptocurrency for ... via Binance.com. Binance,the largest cryptocurrency exchange, has issued a number of crypto-pegged tokens on Binance Chain (BEP2 token format): BEP2 Bitcoin, BEP2 BCH,BEP2 XRP, BEP2 LTC. Pegged tokens such as BEP2 Bitcoin , are 100% backed by the native coin in reserve . Bitcoin is controlled by all Bitcoin users around the world. While developers are improving the software, they can't force a change in the Bitcoin protocol because all users are free to choose what software and version they use. In order to stay compatible with each other, all users need to use software complying with the same rules. Bitcoin can only work correctly with a complete consensus ... Trade over 40 cryptocurrencies and enjoy the lowest trading fees in America.
[index]          
Borsa olarak binance'yi tavsiye ediyorum btc aktarımı hızlı, kolay ve sorunsuz oluyor. Binance Link:https://www.binance.com/?ref=10868381 Referans:10868381 A... https://shiftdelete.net/bitcoin-nasil-alinir-altcoin-satin-alma Bitcoin nasıl alınır diye merak ediyorsanız, hem BTC hem de altcoinlerin nasıl alınabildiğini... Dostlarım basitçe altcoin nasıl alınır onu anlattım. Size gerekli olan linkleri aşağıda bulabilirsiniz. Beğenmeyi ve yorum yapmayı unutmayın. Bol kazançlar Binance = https://www ... #Coinbase In max 3 min Bitcoin versenden von deinem Coinbase Konto, so gehts. Eine Auszahlung hat bei mir ca 20 min gedauert. Nach der Eingabe des Codes den ... Bitcoin Cash SMASH! 🔼56% / TenX 🔽18% / NEO 🔽14% / Binance 🔼66% / Cryptocurrency Chart 📈 Reading - Duration: 15:36. The Cryptoverse 4,504 views 15:36 QFS NÄCHSTES DATUM voraus! Binance CRASH EU Regulierungen Bitcoin ATMs 5 Dinge für BITCOINER 🔥🔥 FFDK POWER BUNDLE: https://ffdk-shop.de/kryptotikel/s... http://bitcoin-informant.de/2020/09/17/972-xrp-verkaufsdruck-10000-bitcoin-atms-weltweit-bitcoin-visa-card-binance Hey Informanten, willkommen zur Bitcoin-In... !!👨💻 SET UP A BINANCE US ACCOUNT 👩💻 !! https://www.binance.us/?ref=35000644 Binance US now allows you to use a Debit card to make purchases ... This was my first time using the new bitcoin ATM. Although it is expensive, and not completely instant, it is one of the fastest ways to convert some cryptoc... Wenn Sie beispielsweise Bitcoins von Coinbase zu Binance transferieren, dann ja. Aus diesem Grund empfehle ich Ihnen dafür Etherium zu nutzen. Beim Transfer von 100 Euro sparen Sie so schon 12,62 ...