chainlink

Chainlink is a decentralized oracle network that permits smart contracts on numerous blockchains. 

• Founders: Sergey Nazarov, Steve Ellis, Dr. Ari Juels 
• Founded: January 1, 2014
• Headquarters: Grand Cayman, Midland, Cayman Islands

Key Features:

• The native cryptocurrency of the Chainlink is LINK which is used to pay the node operators to retrieve data and perform off-chain operations.
• It provides precise price predictions for the assets.
• Used in various sectors such as decentralized finance, gaming, insurance, and supply chain management. 
• Nodes of Chainlink check and validate data from multiple sources before delivering it to smart contracts.

It raised a total funding of $32M over four rounds, and the recent funding was raised from an Initial Coin Offering round, on September 20, 2017.

FAQs

1. What are the main use cases for Chainlink's LINK token?

Staking for security, payment for Oracle services, supply chain management, DeFi applications, facilitating smart contract execution, cross-chain interoperability, and governance and incentives.

2. Why is Chainlink growing so fast?

Chainlink has gained recognition for its role in connecting smart contracts with worldwide data.