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Chainlink Crypto PNG Transparent Images

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Submitted by on Sep 3, 2021

Chainlink is a blockchain technology developed by SmartContract Chainlink Limited SEZC, a fintech business. They are also the founders of the cryptocurrency LINK, a digital asset.

Chainlink’s claimed purpose is to create blockchain “middleware,” or software meant to interact with other software, in order to overcome existing connection and interoperability difficulties with smart contracts. Chainlink wants to leverage this technology to enable connecting to smart contract and blockchain networks easier for bank and retail payment systems, market data APIs, backend systems, non-Chainlink blockchains, and other software APIs.

For every blockchain, Chainlink offers inputs and outputs for smart contracts, including contract oracles. Oracles are data that is supplied into a smart contract from a source outside the contract and is required for it to function.

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The name of the token used in Chainlink settings is LINK. One LINK was worth 1.057 US cents ($.01057) at the end of August 2019. CoinMarketCap, an online cryptocurrency data aggregator, rated it 20th in terms of market capitalization in US dollars and 22nd in terms of trading volume in US dollars at the moment.

In the summer of 2017, Chainlink was launched. In November 2017, it began trading for LINK.

AnChain.ai, a blockchain analytics firm, released a blog post in September 2019 stating that its recent research of the LINK token found a pattern of unusual behaviour that might indicate market manipulation. The data, they said, revealed symptoms of a pump-and-dump scam, a type of fraud in which the price of high-volume assets is fraudulently inflated. The information in the report was gathered between April 1 and July 26, 2019. There was no indication in the study that any Chainlink employees were directly involved in this conduct.

Chainlink, Intel, and Hyperledger announced the creation of a new enterprise-level blockchain solution in October 2019.

Chainlink established a collaboration with Polkadot, a blockchain technology startup that aims to connect blockchain networks, in February 2020. Chainlink announced a collaboration with Ethereum Classic and many smaller DeFi projects and dApps a week later.

SmartContract, the firm behind the Chainlink oracle network, collaborated with China’s national Blockchain Services Network (BSN) in June 2020 to assist in acquiring and managing off-chain data. The Delta Exchange started providing LINK token options contracts the same month.

Chainlink collaborated with Binance in July 2020 to offer on-chain and off-chain market data to the exchange’s DeFi platform.

LINK surpassed Bitcoin Cash to become the fifth-largest digital currency by market capitalization in August 2020.

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