12th Largest Cryptocurrency: Chainlink (LINK)
Chainlink is a decentralized oracle network that powers the secure and reliable connection of smart contracts with real world data. The project was founded by Sergey Nazarov, Steve Ellis and Ari Juels in 2017. LINK has grown to become one of the top 12 largest cryptocurrencies by market capitalization as of April 2021, according to CoinMarketCap rankings.
Chainlink is designed to bridge off-chain resources like APIs and payment systems with on-chain protocols such as Ethereum or Bitcoin through its oracles – software components that act as middlemen between two different networks. This enables users to access external information from within their blockchain applications without having to trust any third party entity for accuracy, security and privacy purposes.
The native cryptocurrency powering Chainlink’s network are called LINK tokens which can be used by developers who want access API data sources while building dapps (decentralized applications). In addition, they also reward node operators for providing reliable services that maintain chain connectivity across various blockchains including Ethereum Classic, Polkadot and Tezos among others.
Since its launch in September 2019 ,the price value of LINK token has increased significantly making it one of the most promising projects available today . Moreover ,it recently joined other major digital assets such as Bitcoin ,Ethereum etc.,in Nasdaq listed ETN “CoinShares Physical Linked Crypto Assets Index” . As a result investors have been attracted towards this asset due its potential returns despite being highly volatile at times .
12th largest
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