What is Chainlink Crypto: Everything You Should Know & Switchere News

Every day we’re trying to do our best to improve the quality of our services & provide a better user experience. Today, we are ready to announce that Chainlink (LINK) cryptocurrency is now available on Switchere. Just exchange your favorite cryptocurrencies with us! 

What is Chainlink crypto? Before exchanging LINK, you need to understand how the cryptocurrency works as well as its key features. Let’s consider them!

What is Chainlink Cryptocurrency: Key Information to Know

So, what is Chainlink cryptocurrency? Chain Link is a blockchain platform that serves as an interface between blockchains and external applications. Accordingly, Chainlink allows Bitcoin or Ethereum blockchains to be connected with real-world applications, such as databases or program interfaces. At the same time, oracles which represent an actual interface, are decisive for interactions between blockchains and external applications.

The platform has been in development since 2015. Initial Coin Offering (ICO) took place in 2017. Investors could purchase the Chainlink crypto at a price of 0.11 US dollars there. After hitting the hard cap at $32 million, the ICO ended. Today, there are 385,509,556 LINK coins in circulation. The maximum number of tokens is limited to 1,000,000,000 LINKs.

Chainlink Crypto: Chainlink’s Fundamental Analysis

How will the future of Chainlink cryptocurrency look like? Let’s try to find out! If we take a look at the entire blockchain industry, one finds that smart contracts play a particularly important role in the application of blockchains.

In particular, blockchain platforms such as Ethereum, Tezos, or EOS allow development as well as execution of smart contracts. This fact enables fraud-proof contracts to be concluded. 

However, a required data must also be imported securely onto the corresponding blockchain and exported after a smart contract has been executed — this is where Chainlink crypto comes into play.

Despite this unique business model, it’s clear that Chainlink also addresses a competitive market. However, Chainlink is booming and continues to promote its own Oracle business. Unlike its competitors, Chainlink doesn’t need any sidechains to transfer the required data to a blockchain. Rather, the oracles represent a kind of agent that is used to review and aggregate data. With the help of smart contracts, the data is then transferred to the blockchain.

Chainlink Cryptocurrency: Chainlink’s Technical Analysis

What is Chainlink cryptocurrency? A brief look at the LINK rate shows that the currency has seen rapid growth since April 2019. At the same time, the price fluctuated significantly, so that short-term oriented investors enjoyed good trading opportunities. Investors with long-term investments can count on the development of Chainlink cryptocurrency today.

Even before the Coronavirus crisis, LINK reached a new all-time high at $4.86. Due to the general market correction, the price then fell to as low as $1.62. Today, LINK is trading at more than $12. Well, considering the current situation, all we need to do is observe how the market will develop. 

What is Chainlink crypto? What other interesting facts do you know? Just share your knowledge in the comments!

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