Chainlink is a cryptocurrency that focuses on smart contracts and their implementation outside the blockchain.
That is, the problem that exists today is what some companies or applications or services do not yet use smart contracts.
That’s why chainlink allows these services or applications to connect to a blockchain and exchange information.
This project is unique of its kind, because it allows to integrate information of the old system on the block chain on its own blockhain.
This happens thanks to the Oracles, who are validators of the decentralized blocks that deal with bringing data from outside to inside.
Chainlink does not have its own blockchain but relies on that of Ethereum, using the EC-20 type contract.
This project is very young, in fact it was born in 2017 through an ICO and its creators are CEO Sergey Nazarov and CTO Steve Ellis.
The Link token serves to reward the oracles that perform the validations, and fund future projects.
The total availability of the Token is 1 billion and is thus divided:
- 350 million were sold during the ICO (35%);
- 350 Millions would go to the operators of the Nodes (Oracoli)
- And the remaining 300 million would go to the company for project funding.