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Chainlink is a decentralized oracle network, designed to bridge the gap between blockchain smart contracts and real-world data, APIs, and external systems.
This coin is available on Newton.
It allows smart contracts to access accurate, external data, enabling them to trigger real-world actions such as financial transactions or data exchanges.
Chainlink uses decentralized nodes to validate and secure the data it provides to smart contracts, ensuring the integrity and trustworthiness of off-chain data.
The Chainlink network is open-source and decentralized, meaning it doesn’t rely on a central authority, ensuring a high level of security and reliability.
Chainlink is currently one of the most widely used Oracle networks, revolutionizing how smart contracts interact with real-world data.
Chainlink operates through a decentralized network of independent nodes that fetch and validate off-chain data, ensuring it is accurate before transmitting it to the blockchain.
The network relies on node collaboration and reputation systems to validate data, ensuring that no single entity can manipulate the information.
Validators work together to securely relay the data to smart contracts, triggering specific actions such as payments or transactions based on real-world events.
Chainlink’s decentralized structure prevents single points of failure, making the network more resilient and trustworthy for applications that rely on external data.
By solving the Oracle problem, Chainlink enables blockchain applications to seamlessly interact with real-world systems and data sources in a secure and verifiable manner.
Chainlink plays a crucial role in the crypto ecosystem by providing decentralized oracles that enable smart contracts to securely interact with real-world data. Here's how it works:
The Chainlink team continues to innovate with the upcoming Chainlink 2.0, which will improve scalability and efficiency within its decentralized Oracle network.
Chainlink has solved the blockchain oracle problem by creating a decentralized network of oracles that securely provide off-chain data to smart contracts. Here’s how it works:
Chainlink also offers "Chainlink VRF" (Verifiable Random Function), this is a Chainlink service that generates random numbers for smart contracts to use, ensuring fairness in applications such as gaming or lotteries.Chainlink’s decentralized oracle network guarantees that smart contracts on the blockchain can function properly by accessing reliable, verifiable data from outside the blockchain.
Chainlink’s decentralized oracle network is widely used in various sectors of the cryptocurrency and blockchain space. Here are some common use cases:
Chainlink offers several ways to earn LINK tokens through active participation in its network. Here’s how you can earn LINK:
LINK is an ERC-20 token and the native cryptocurrency of the Chainlink network, used to pay Chainlink node operators for providing off-chain data to smart contracts on blockchain networks.
It can be staked by node operators as collateral to ensure data reliability and maintain the decentralized oracle network that powers smart contracts with real-world information.
LINK is also used for transaction fees within the Chainlink ecosystem, facilitating secure data feeds that allow smart contracts to function properly across different blockchains.
In decentralized finance (DeFi), LINK is used to provide accurate and reliable price data and oracle networks, helping to drive transparent financial services with secure data inputs.
With the growing demand for secure off-chain data, LINK has become a key asset for blockchain networks and offers potential as a long-term investment and store of value in the broader cryptocurrency market.
Chainlink was founded in 2017 by Sergey Nazarov and Steve Ellis, with the goal of solving the "oracle problem" and enabling secure data access for smart contracts.
The project quickly gained recognition in the blockchain community for providing decentralized oracles, which allowed smart contracts to securely access external data.
In 2019, Chainlink launched its mainnet, becoming the first decentralized oracle network to offer secure and scalable solutions for blockchain applications.
Chainlink has since formed numerous high-profile partnerships, including collaborations with Google, Oracle, and others, expanding its role in both blockchain and traditional industries.
Today, Chainlink is considered one of the most essential technologies in the blockchain ecosystem, powering decentralized applications and smart contracts across various industries worldwide.
Chainlink 2.0 is the next major update to the Chainlink network, enhancing its scalability and decentralized Oracle network. Here’s what it brings:
Staking LINK tokens provide benefits both to node operators and the broader Chainlink network. Here’s how staking LINK helps:
Chainlink has a maximum supply of 1 billion LINK tokens, which influences its market dynamics. Here's what you need to know:
You can securely store your Chainlink (LINK) tokens in a wallet or on regulated platforms like Newton. This ensures your LINK is safe while you monitor its market performance.
Chainlink (LINK) is stakeable, allowing holders to earn rewards by helping secure the network. With Chainlink Staking v0.1, you can now participate in securing oracles and earn rewards.
While Chainlink (LINK) is not widely accepted for everyday payments, it continues to be a valuable asset in the crypto space. Its growing role in smart contracts and decentralized applications makes it an important cryptocurrency.
Sending Chainlink (LINK) is fast and secure through the blockchain's peer-to-peer network. You can send LINK to anyone with a valid wallet address with minimal fees and quick transfers, whether on the Ethereum blockchain or other integrated networks.
Several charitable organizations accept Chainlink (LINK) donations, enabling you to support causes using cryptocurrency. Donating LINK contributes to the development of blockchain technology and decentralized networks.
On some Canadian platforms, exchanging Chainlink for other cryptocurrencies, such as Bitcoin or Ethereum, is simple. These platforms facilitate seamless diversification, enabling users to trade LINK alongside a variety of popular digital assets.
*Newton does not currently support staking, governance, interest-earning, or other utility functions, where applicable, for this asset.
Acquiring Chainlink (LINK) tokens from individuals or unregulated sources can be risky. Without the safety net of a regulated platform, you might encounter fraudulent individuals selling LINK cryptocurrency or unreliable transactions. It’s important to stay cautious and avoid these potential pitfalls when buying crypto directly.
A safer and more straightforward way to buy Chainlink (LINK) in Canada is through a trusted, regulated platform like Newton. With Newton, you can easily fund your account via e-Transfer or wire transfer, and gain access to over 70 cryptocurrencies, including LINK. Plus, you can stay updated on live Chainlink price changes and market performance.
Newton offers great prices on Chainlink, making it a fantastic choice if you’re looking to invest in LINK. Whether you’re buying for the first time or watching its value grow, Newton makes it easy to get your hands on Chainlink at market competitive rates.
Your security matters to us, which is why Newton offers features like device management, login activity monitoring, and an anti-phishing code to protect you. Plus, you can boost your account security with Multi-Factor Authentication and trusted contacts for added peace of mind.
Newton makes it affordable to buy and sell Chainlink, with a 1.50% - 1.60% fee. For more information about fees, see our Prices page. Newton covers up to $5 of network fees on your first daily withdrawal. For additional withdrawals, or if network fees exceed $5, the estimated network fee is confirmed prior to withdrawal.
Whether you’re on your desktop or mobile, Newton’s platform works seamlessly on any device. You can manage your Chainlink and check prices from anywhere, making it easy to stay connected on the go.
Newton’s platform is designed to be super easy to use, no matter if you’re new to crypto or a seasoned trader. Whether you’re purchasing Chainlink or just checking the price, Newton makes everything simple and intuitive.
Newton is a Canadian platform that’s all about supporting you in the crypto world. With a focus on Canadian customers, Newton makes it safe and simple to buy, store, and manage Chainlink and other cryptocurrencies.
Getting started is easy! Simply create an account on Newton, a trusted platform for buying Chainlink (LINK) and other cryptocurrencies. After verifying your identity, you'll be ready to dive into the crypto world and start exploring Chainlink’s value.
You can fund your account easily using wire transfer or e-Transfer. Newton makes it simple for Canadians to deposit CAD and buy Chainlink, so you can start your crypto journey without any hassle.
Once your account is funded, it’s time to start buying LINK. Whether you’re looking to invest or get involved in staking when it’s available, Newton lets you track the price and make smart choices as you go.
On Newton’s platform, you’ll find a variety of cryptocurrencies, including Chainlink. Just select Chainlink from the list, and you’re on your way to joining the network that’s revolutionizing smart contracts.
Decide how much Chainlink (LINK) you’d like to buy. Whether you’re starting small or going bigger, just enter the amount in CAD or LINK, and remember to do a little research to make sure it fits your investment goals.
Once you’ve reviewed the details of your purchase, confirm the transaction, and you’re all set! Your Chainlink (LINK) will be credited to your Newton account, ready to be securely stored, staked, or transferred as you see fit.
When you use a personal wallet, you have full control of your Chainlink, but you’re also in charge of keeping your private keys safe. While this gives you privacy and freedom, it’s important to handle those keys carefully, as losing them could put your funds at risk.
You can safely keep your LINK on Newton! Newton makes keeping your Chainlink safe easier with features like multi-factor authentication, login history tracking, and an anti-phishing code. Plus, you can manage trusted devices and set up a trusted contact, so you can rest easy knowing your assets are secure.
Your security is important. Newton is committed to being a leader in compliance, security, and technical protocols.
For additional information and to review the risks associated with Chainlink, please see our Asset Statement.
