Where Chainlink is Accepted Locally and Globally
LINK is the ERC-20 token of the realm of the ChainLink smart contract network which seeks to bring trustless blockchain technology to the world’s data. Reaching prominence as a top 20 crypto by market cap, it’s accepted as payment by some businesses, from a vacation rental in Venice to a Brazilian estate planning attorney.
Who Accepts Chainlink
Are you an Entrepreneur, freelancer, or manager of a business accepting cryptocurrency?
Should you buy Chainlink?
LINK is a fixed-supply hard cap, and thus deflationary, crypto. Their management and development team is public, a sign of credibility. Their Oracle network holds the promise of tackling real-world data management with smart contracts, apparently, data is the “new oil” so LINK might be a winning investment.
I’m a big fan of people investing in what they understand, so if you’re going to buy and HODL LINK you should really do some smart drugs (which you can buy with crypto) so you can wrap your head around DEFI and smart contracts, it’s a very competitive space where things move fast. It’s a real technological arms race to blockchainize the real-world economy; to pick the winners and not the wannabes you’ll need to get and stay abreast of the dizzying DEFI domain.
It’s what you might call a Great Reset crypto, as they’ve collaborated with the World Economic Forum (the “you’ll own nothing and be happy” guys) in creating a protocol for Connecting Blockchains and Legacy Systems. If you’re not a big of the legacy financial system, you might want to stay away from projects like this that seem to be entangling themselves in it!
About
In this paper we present ChainLink, a decentralized oracle network. We describe the on-chain components that ChainLink provides for contracts to gain external connectivity, and the software powering the nodes of the network. We present both a simple on-chain contract data aggregation system, and a more efficient off-chain consensus mechanism. We also describe supporting reputation and security monitoring services for ChainLink that help users make informed provider selections and achieve robust service even under aggressively adversarial conditions. Finally, we characterize the properties of an ideal oracle as guidance for our security strategy, and lay out possible future improvements, including richly featured oracle programming, data-source infrastructure modifications, and confidential smart-contract execution.
from the Chainlink whitepaper
Chainlink greatly expands the capability of smart contracts by enabling access to real-world data, events, payments, and more without sacrificing the security and reliability guarantees inherent to blockchain technology. Watch a video explaining why Chainlink is the industry standard oracle network.
From chain.link
