Buy Bitcoin > Buy Chainlink (LINK) in 3 easy steps
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Sergey Nazarov and Steve Ellis founded Chainlink and released the whitepaper in 2017, becoming Chainlink’s CEO and CTO, respectively. Built upon the same technology that powers Ethereum, Chainlink is more than another alt coin. In addition to providing value as a digital asset, it’s unique in the value it brings into the blockchain realm.
Chainlink provides a decentralized oracle network. An oracle is a data feed that connects blockchains to off-blockchain data. It allows communication of information that is not native to a blockchain via these decentralized oracles. Chainlink allows a secure connection to off-blockchain data for myriad uses such as:
• Scores of an NHL hockey game to settle bets.
• Risk assessment information to calculate an appropriate insurance premium.
• Accurate location data to use in supply chain tracking.
• Retail or banking information used to trigger a smart contract.
Chainlink obviates the need for a centralized source of data so that the purchasers and providers of data can conduct transactions securely. Providers of data use stakes of LINK tokens in order to make a bid. If they fail to act with integrity, these tokens are confiscated. Because it’s decentralized, anyone wishing to operate an oracle may do so. Every oracle receives an on-chain identity and a reputation to help data purchasers determine reliability.
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You can buy LINK with Bitcoin.
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