What is ChainLink? | Why is LINK Coin going up?

Chain Link is popular nowadays because it is trending at around 3.75 USD now in May 2020, which is almost 20 times of as it was at the time of ICO around 0.17 USD in Nov 2017. It’s obvious that you just clicked the link from Google search page to get more details about this highly trending coin Chain Link. You will get detailed information about this ChainLink coin in a simple to understand language. We will discuss, what is purpose behind starting this LINK coin, some basic facts like ICO, Circulating Supply, Total Supply and recent all-time High/Low of ChainLink etc, who are partners behind this Chain Link Coin and at the end we will discuss what are the platforms where you can trade or exchange this coin LINK.

What is ChainLink?

ChainLink was introduced in year 2017 to resolve issues with smart contracts that they are unable to connect with external entities for execution. In earlier days we used to have legal agreements (on paper) and digital agreements (online) to sign any kind of contracts. But the problem with those kinds of contracts was they were not able to connect with external systems. So, in order to resolve this issue ‘oracle’ was introduced which is a centralized service provides way to external communication for contracts which makes them smart contracts.

But there was a big challenge with this ‘oracle’, that is it is single point of failure because it is centralized architecture. So, there was a need of more reliable and secure service. In this situation, ChainLink was introduced which is decentralized oracle network which resolve issues in ‘oracle’ service like single point failure to provide more reliability and security to contractors performing smart contracts. ChainLink provides multiple service like security and reputation monitoring which are helpful in fluent execution of smart contracts in adverse conditions as well.

This LINK coin is based on the Ethereum coin and it uses oracles service to provide more benefits of Smart Contracts. This LINK coin is ranked at position 12 in the listing of CoinMarketCap, a Giant in cryptocurrency world which provides listing of altcoins based on their current market capitalization. Now let’s talk about ICO and related information about this ChainLink Coin. In cryptocurrency world we have abbreviation for every cryptocurrency, ChainLink is also not an exception, we call it as LINK coin as an acronym.

ChainLink ICO

If we have a look at the roadmap of ChainLink ICO then it was started on 27th June 2017 when LINK coin was launched. After that within a month Pre-sale began on 21st July 2018 and actual sale or we can say Crowd sale ran for a month between 19th September 2017 to 19th October 2017.

There is total supply of 1 billion LINK coins but that is divided into three major parts in the ratio like 35:35:30. So company had decided to give 1st 35 part that is 350 million LINK coins to Node Operations to boost ecosystem, next 350 million LINK coins were distributed for ICO that is public and remaining 300 million ChainLink coins company keep them for themselves for future enhancement.

LINK coin Distribution (Total Supply 1 Billion Link Coins)Dedicated for
350 Million LINK coinsFuture development
350 Million LINK coinsPublic trade (ICO)
300 Million LINK coinsCompany owned

So, the conclusion of story is out of 1 Billion LINK coins only 350 million ChainLink coins were available for public transactions that is market supply. You can also have a look at the table of ChainLink WIKI provided below at the end of this article to get more details. To get continue updates, price predictions and cryptocurrency news related to ChainLink coin stay tuned with us.

Why is Lick coin going up?

There are multiple reasons behind sudden hype we are witnessing for Chain Link cryptocurrency. We have listed out few major reasons out of then as follows.

  1. Newly added Giant Partner

In the next immediate paragraph, you can see detailed information about LINK Coin partnership with Giant companies like Google Cloud, Cypherium, Oracle and SWIFT. Also, as this technology partnered by Oracle which is top giant in Information Technology field, there is always sense of reliability and security which is not the case for all other cryptocurrencies.

  • Probability of SWIFT using LINK

SWIFT which 48 years old organization and it is predicted that in coming few years they may start using LINK coin to compete with their competitors like XRP Ripple. This news has a very good impact on LINK coin market situation and one of the major reasons behind LINK coin growth against other altcoins in market.

  • Last successful year in terms of performance

We humans always predict anything based on the past performance which is not always 100% correct but it gives us guideline in terms of future prediction. So, if we have a look at the last year performance of LINK coin verses other cryptocurrencies. There is a hope that ChainLink coin is going to reach another level of heights in terms of growth in coming few years.

  • Introduction of TCF

Recently at the end of last year Oracle introduced TCF that is Trusted Computing Framework which really impacted users in building more trust and confidence with ChainLink coin. Combination of TCF and ChainLink can offer validation feature as well as privacy and scalability which fulfil requirement of Enterprise organizations.

ChainLink Price Prediction for coming few years.

Year EndChainLink Price (*Predicted)
20205$
20218$
202520$
203050$

ChainLink Coin’s Giant Partners

Google who is known as Internet giant started working together with ChainLink to provide smart contracts. Also, it is being said that Google is using Ethereum in order to collect data from outside blockchain. Oracle the giant in IT world is doing partnership with ChainLink to support startup companies to manage and sell data to customers. SWIFT a giant in payment systems, which used to say that cryptocurrencies are useless. But SWIFT may start using ChainLink in coming few years to compete with their competitor Ethereum.

Credits is big name in blockchain software also have made partnership with ChainLink to support smart contracts. DApps is also one of the major partner of ChainLink which will help Salesforce end users to manage smart contracts using accurate and current data.

Chainlink Price Prediction

There are around 30 other partnerships made with companies(medium to large scale) by ChainLink in last year 2019 and 1st quarter of 2020.

ChainLink Wiki

Following table will provide you some basic facts about ChainLink coin like symbol, launch year and All-time high’s etc.

Project nameChainLink
Ticker SymbolLINK
Official websiteChain.Link
Total Supply1 Billion LINK coins
Based onDecentralized Oracle Network and Ethereum
Ranking on coinmarketcap.com12
All-time highest$4.95 USD
Launching year2017
Trading PlatformBinance, Bitforex, ZG.com

ICO of chainlink was ended in 19th September 2017 where it raised by over $32 million dollar, where value of 1 Link equal to the 0.11 USD, but today this altcoin trading with average $3.2 USD with maintaining ROI over 2000%, so chainlink already established his identity and leading table of highest ROI percentage from the list of coins which was listed in 2018. This coins very popular in different trading platform where most of market cap value coming from Binance, Bitforex, ZG.com, Omgfin and Bilaxy and in last 24 hours it total volume of market cap generated by Link Coin was almost $300 Million worth and with this they already beat big names such as Cardano, Monero, Tron and very closed to crossed Stellar all time market cap value very soon and expected to get 11th position in the cryptocurrency market list.

As Chainlink is available on more than 170 exchange portal and weekly it got listed on 1 to 2 platform, as per the report of google trends, where we get stats of most searched topic, Chainlink link is 4th most searched cryptocurrency in 2019 and in 2020 there are huge chances after Bitcoin and Ethereum this coin going to be one who gets attention from investor, as talking about price growth then in the beginning of 2020 Chainlink has more growth rate as comparing to other top 10 cryptocurrency, as to get more investor along with crypto.com, Link token announces up to 50% discount on trading with $500k USD and this was the time where Chainlink get huge ranking and market cap boost.

Get More: Chainlink Price Prediction

Comments (No)

Leave a Reply