Chainlink
$23.32 -6.00%
LINK · 206w

Chainlink: A Primer

Welcome to /r/LINKTrader! We hope you enjoy your stay. This post is meant to help visitors and new subscribers understand what ChainLink is, and answer many of the questions that are asked by people who are new to LINK. #What is Chainlink? ChainLink is blockchain middleware that allows smart contracts to securely connect to various APIs, resources, and bank accounts. This occurs through the ChainLink Network. The network is a decentralized system of nodes, better known as oracles, which sell usage of APIs and other resources to a smart contract. The selling of data to the contracts is done through the LINK token, an ERC20 token on the Ethereum Blockchain. The ChainLink team is made up of Sergey Nazarov, CEO, and Steve Ellis, CTO, with 6 advisors. #What makes Chainlink different from other ICOs? On their own, smart contracts cannot communicate with external resources. ChainLink bridges this gap, allowing it to track the status of contract fulfillment, payment at completion, or any other metric. The ChainLink network is versatile; any API provider can easily join the network. Possible services can include bank or retail payments, stockmarket data, other blockchains, backend systems (SAP, Salesforce), or any web API. #Users and Recognition * ChainLink has partnered with the secure bank communications giant SWIFT on a [Smart Oracle](https://www.slideshare.net/slideshow/embed_code/key/HJglipax9KmMPx), allowing smart contracts to make payments, send governance instructions, and release collateral with over 11,000 financial institutions. * ChainLink has partnered with Cornell's IC3 in order to help launch the first [Intel SGX secured link between smart contracts and external data](https://create.smartcontract.com/#/contracts/cc3ea3c76b5a60f171e0eaf223146f34?tab=info). * ChainLink has been selected by the World Economic Forum's Tipping Point report as the ["Shift in Action"](https://image.slidesharecdn.com/worldeconomicforumtippingpoint2015blockchain41-170330211144/...
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