If you are already familiar with cryptocurrencies, you probably heard about Chainlink as an alternative cryptocurrency. However, this crypto project is more than that.
Chainlink is a decentralized oracle service because to manage data in a smart contract, a blockchain is required. It also represents a digital infrastructure that links the blockchain ecosystem to the real world by simply integrating different data types.
Unlike other blockchain platforms, this one makes use of multiple points of data input in a certain way that makes it impossibly hard for smart contracts to get tampered with from a single point of failure. Since it was created, the cryptocurrency had an ROI of over 10,000% so in this guide we will learn how its digital infrastructure and its many use cases make it a project that gained popularity so fast.
Start Here: Understanding The Main Things
The network was launched in 2017, June, by the SmartContract company with the first version launching the same month.
Company co-founders Sergey Nazarov and Steve Ellis published the Chainlink white paper a little later in 2017 by acquiring an advisor to the company by the name Ari Juels. Later on, the team held an initial coin offering and raised the equivalent of $32 million by selling 35% of the 1 billion unit supply of its own LINK currency that we will learn more about in the following lessons.
As for the rest of the tokens, 30% of them were distributed to Smart Contract to be used for the Chainlink blockchain development and 35% went to incentivize node operators.
Smart contracts, on the other hand, exist on a blockchain and they are immutable so once certain conditions are coded in the smart contract, they will not be changed and Chainlink guarantees that. Smart contracts are also transparent and can be verified by the counterparties that are involved in a transaction. This amazing Chainlink feature ensures that the smart contracts reflect on all parameters of an agreement and will be executed if every single condition is met.
But let’s not rush. Check the lessons one by one:
Our Chainlink Guide Will Show You:
- What is Chainlink?
- How does it work?
- Chainlink’s architecture
- What are Chainlink oracles?
- What Is LINK?
- Projects that integrated with Chainlink
- Is LINK worth investing in?
- How to store LINK?
- What are the best LINK exchanges?
- What are the best LINK wallets?
- What are Chainlink smart contracts?
- Why Is chainlink So Important?
- What are node operators?
- Pros and Cons
The lessons are made to help you better understand how chainlink works and what does it mean for the future of the crypto industry.
So, are you ready to start learning more about this amazing crypto project?
Click on the Curriculum tab and start learning!
- Lectures 14
- Quizzes 1
- Duration 33 hours
- Skill level Beginner
- Language English
- Students 7958
- Assessments Yes