The depth of Chainlink

[Root]

Having clarified the vital importance of the Oracles for the use of real-world data by smart-contracts, let's see why ChainLink has evolved almost out of control in the last year. ChainLink is part of that branch of software called Middleware: through dedicated APIs, it connects the blockchain with the real world. This contact with the real world is implemented through a network of nodes on which a particular software called ChainCore is run.

Since each node is equipped with this system, it becomes an OracleNode, and when the smart-contract requests data, more nodes are dedicated to finding what is required; at that point, through cross-checks, the Oracle Nodes verify the validity of the data itself: we have arrived at the decentralization of the data verification.

Unlike the Band protocol, which takes the truthfulness of the data for granted and then proceeds to verify it a real contradiction. Operating, in fact, within the blockchain, each Oracle must be paid for this work and takes place through the proprietary token Link. Clearly this ecosystem leaves nothing to "fate", in fact even data providers can enter this network: simply by introducing dedicated APIs recognized by ChainCore. Through these procedures, the data found has a different reliability than those that are not filtered, at source, by the relevant API. It should be noted that all Oracle Nodes take the data off-chain, but subsequently all the verifications are performed on-chain on the proprietary blockchain and subsequently delivered to the smart-contract.

Since the data is validated by blockchain, the validation costs are quite high, we are talking about $ 450 for a single data request; in this regard, ChainLink is implementing the Threshold Signature Scheme.

 

[Yugocean]

Chainlink (LINK) is still over 13$ in the market, since some time it's value is between 11-13$ (it's highest value was during July 2020, when it crossed $15). This crypto have 1,000,000,000 supply (maximum), but currently only 399,509,556 are available in the market. But the best thing for this crypto is that it is among the top 10 cryptocurrencies. It is available for hundreds of SPOT and Derivatives types of trading in the market. Trading platforms like Coinbase Pro and Karaken even allow this to be exchanged with USD in SPOT market, in Derivatives only USDT exchange is allowed.

 

[sincerem]

Chainlink is a large Crypto coin, the value is stable at moment, $13 in price tag. It's still going higher even if the coin experience a slight blip in price tag. Going down from $15 to $13. But it's not too bad for the coin, it's a coin under improvement and haven't gained enough backing and popularity like its sister coin in "Bitcoin. But I'm hopeful that this coin will rise in price tag as time goes on. We just have to track down the price tag everyday to see what the future holds for it.