Chainlink

Chainlink

It is an oracle blockchain project that was created to connect cryptocurrency with real-world applications. Open-source API helps the developers to build multi-functional software and web platform to improve the crypto market. It focuses on establishing a bridge between the popular payment gateways like Paypal and Payoneer, banks like HSBC and Wells Fargo and blockchain technology like Bitcoin and Ethereum. From the beginning of its journey, it is working to enhance the adoption of digital currency all over the world. It uses the power of data science and can apply external data sources into the blockchain network for creating smart contracts. Agreement between the traders remains protected, and chainlink technology ensures the zero percent occurrence of fraudulent activities. Multiple information is handled by a single node in the chainlink network for which the cost of processing a large volume of data raises and becomes costly. On-chain and off-chain architectural design were developed to help the newcomers in this space and to motivate many businesspeople to invest. Partnership with companies like Web3, Polkadot, OpenLaw, Swift network portrays the bright future of Chainlink. Undoubtedly it has the potential to become the best cryptocurrency.

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published on:February 27, 2020