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ChainLink (LINK) is an open-source decentralized cryptocurrency. Chainlink technology is based on the software that helps to connect smart contracts to external resources in different networks. This is provided by safe oracles for Bitcoin and Ethereum.
The ChainLink team consists of 2 people: Director Sergei Nazarov, and technical director Steve Ellis. In addition, Chain Link has great advisors: blockchain technology specialist Ari Jewels from Cornell University, Hudson Jameson, a senior executive in the Ethereum community, and Andrew Miller contributor to the Zcash and Tezos projects.
The ICO was organized on September 19, 2017, and the $32 mln fundraising goal was achieved. Back then, Chainlink ICO price was $0.11 (ETH was accepted as the only means of payment), and the ROI achieved x15 in USD, x26 in ETH, and x6 in BTC. Today, Chainlink price is $1.73, and it’s the 21st coin in the Top cryptocurrencies of the world.
To enable the mutual integration of cryptocurrency technologies and traditional software of any organization, it is necessary to provide a link between the cryptocurrency infrastructure element and dozens of third-party points. This connection is provided by the “oracles” – software that forms a kind of channel between the parties to the contract. This channel exchanges data according to the rules that are specified in the contract.
ChainLink has developed a technology that forms such channels between different data providers through the blockchain technology. Simply put, the team created oracles that ensure the implementation of a smart contract between the crypto infrastructure and third-party sources of information. Such networks are not regulated by anyone or anything other than a smart contract and are essentially decentralized.
The network formed by ChainLink consists of levels:
- Off-chain. It is a subnet of oracle nodes that collect information from third-party sources – databases, APIs, and so on. The oracles work independently from each other in accordance with the given metrics.
- On-chain. Responsible for selecting oracles that match the smart contract.
ChainLink allows all network operators to earn with their own token – LINK. Participants receive a certain amount of coins as a reward for using smart contracts with ChainLink oracles. One way to become the owner of LINK is to incorporate this network into your business.
For investors, there is a simpler way – to buy currency on cryptocurrency exchanges. LINK currency pairs are actively traded on Binance, Bitrue, and Huobi, and ChainLink is also traded on OKEx, FCoin, and many other exchanges.
|Asset Type||Utility token|
|Consensus Protocol||Proof-of-Concept with SWIFT (being developed)|
|Market cap||$610 764 459|
|Curr. Supply / Total Supply||350,000,000 / 1,000,000,000 LINK|
|ROI since launch||1 015,09%|
|Launch date||September 21, 2017|
2018 was the year of fall and growth for Chainlink coin price. As we remember, 2018 started with a major bull run, so many altcoins were at the peak of their price value – LINK wasn’t an exception. Then, a huge downtrend followed, which erased billions of dollars of market cap for many crypto projects. Not all of them recovered from the bearish period, but Chain link price got to the previous level. Look at the right side of Chainlink price chart 2018: the rise might be connected with the launch of first dApps on Chainlink blockchain, and listing on BITBOX and other exchanges.
ChainLink Technical Analysis
Let’s check the technical analysis of ChainLink on TradingView:
The crypto community values Chainlink projects because people see the team working tight-tipped on their project. Look at this tweet:
Indeed, Chainlink manages to outperform their competitors in terms of productivity, so their popularity and authority are undeniable.
Here’s the proof that Chainlink manages to overcome all difficulties, so it’s not surprising that the altcoin survived through bearish periods in 2018 and 2019:
Crypto influencers start acknowledging Chainlink, too:
As we see in the trend analysis, Chainlink was highly popular in July 2019. It’s explained by the Chain LINK price skyrocketing from $0.289 at the beginning of the year to a peak of $4.14 in summer 2019.
Although the crypto market is highly volatile and hasn’t escaped from the bear’s grip yet, the forecast for Chainlink price is highly optimistic. It’s not likely for the coin to dump to $1 level because it has already survived through the worst.
Here’s what people think about it:
Don’t forget that Chainlink is also supposed to be a great long-term investment:
As for predictions on websites providing Chainlink price analysis, numbers seem to be closer to reality. For instance, while Trading Beasts and WalletInvestor are being too pessimistic ($0.3-0.7 by the end of 2019), Coin Fan gives Chain link coin price prediction of $3.18.
Considering how easily Chainlink overcomes the bearish market, it’s not likely that the coin will lose in price considerably. Our Chain link coin price prediction 2019 is $2-3 by the end of the year. It’s still possible, if the crypto market revives during the fall. In 2019, it has already managed to increase by 1000%, and we believe it’s not the last record of the coin.
When it comes to Chainlink price prediction 2020, things are getting more difficult to forecast. Generally, Chainlink is being developed by seven-league steps, so it can easily overcome the level of $5-10 during the next year. The value is being accumulated, so is the price.
Buy LINK at Changelly with USD, EURO or GBP