CHAINLINK price, news and Forecast (LINK US DOLLAR)
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Solana price pumps 7% as SOL-based POPCAT hits new ATH, JITO becomes largest protocol on TVL metrics
Solana (SOL) price is the biggest gainer among the crypto top 10, with nearly 10% in gains. The surge is ascribed to the growing popularity of projects launched atop the SOL blockchain, which have overtime posted remarkable success.
High hopes rouse for TON coin with Pantera as its latest investor
Pantera aims to introduce crypto to the masses with investment in TON blockchain. The TON blockchain has received significant recognition among crypto investors following recent partnerships and integrations. TON could see a rally following Pantera's recent investment.
Ethereum to break out of bearish move, ETH ETFs unlikely in 2024
Ethereum shows signs of recovery despite a second consecutive day of poor performance in Hong Kong's spot Ethereum ETFs. Bloomberg analyst James Seyffart has also shared that a spot ETH ETF may not happen in the US in 2024.
Wasabi Bitcoin privacy mixing service to shut down starting June 1, zkSNACKs cites legal certainty concerns
zkSNACKs, the company pioneering the development of Wasabi Wallet, has revealed plans to shut down its Coinjoin coordination service, effective from June 1, 2024.
Bitcoin: BTC’s next breakout could propel it to $80,000 Premium
Bitcoin’s (BTC) recent price consolidation could be nearing its end as technical indicators and on-chain metrics suggest a potential upward breakout. However, this move would not be straightforward and could punish impatient investors.
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WHAT IS CHAINLINK?
Chainlink is a decentralized oracle network that greatly expands the capabilities of smart contracts by enabling access to real-world data and off-chain computation while maintaining the security and reliability guarantees inherent to blockchain technology.
LINK tokens are the digital assets used to pay for services on the network.
Characteristics of Chainlink
Chainlink main objective was creating a blockchain that allows users to connect with real world data.
- Chainlink makes it possible for users to work with off-chain data.
- It offers the possibility of making payments through a contract to any payment system or banking network.
- Its users can use smart contracts which includes an oracle reputation called a service level agreement. It punishes the oracles that violate network rules or provide incorrect data.
- Uses an aggregation contract to collect all the off-chain oracles’ data to create a weighted aggregate response.
Differences between Chainlink and Bitcoin
Which are the main differences betweeen LINK and BTC?
- LINK demand and value of the tokens is directly correlated to the number of operators that offer off-chain services to the system.
- The LINK token is described by developers as an ERC-20 token, with the additional ERC-223 “transfer and call” functionality.
- The LINK token sale was capped at $32 million, with a total supply of 1 billion LINK tokens.
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