Chainlink is more than another alt coin built on the Ethereum network. In addition to providing value as a digital asset, Chainlink provides a decentralized oracle network and allows communication of information that is not native to a blockchain. Chainlink allows a secure connection to off-blockchain data for a myriad uses.
How to Buy Chainlink (LINK) in Canada.
Chainlink’s partnership with the SWIFT banking system—which started in 2016—is the jumping off point for any discussion about LINK. Its ties to SWIFT only seem to be deepening with an eye towards full integration. In 2019, there was over $77 trillion in value transmitted across SWIFT GPI. The ramifications for the demand of Chainlink oracles should full integration come to pass are staggering.
Kraken, which is the fourth largest cryptocurrency exchange by volume, announced its own Chainlink node today (2/1/21). Being part of the Chainlink network, it now communicates its oracle rates to Ethereum and other blockchains directly. This provides real-time pricing feeds for decentralized applications such as derivatives contracts, stablecoins, payments, and lending. The use of Chainlink’s network ensures data free from manipulation by the nature of its transparency.
Chainlink currently ranks 7th according to market cap of all coins with a total market cap of over $8.8 billion and over 400 million coins in total circulation.
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