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$13.25

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Chainlink price

$13.25

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Chainlink price

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$13.25
-1.77% past 24 hours
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24H
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1M
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5Y
Market statsLast updated
$8.99B
678M
$298.21M
-$0.24
$13.67
$13.23

About Chainlink (LINK)

Chainlink is a decentralized oracle that provides external data to smart contracts. Using reputation and validation systems to reward honest behavior among tamper-proof oracles, the Chainlink network connects smart contracts to real world data, events and payments. The cryptocurrency that powers the network is LINK, an ERC-20 token that incentivizes oracles - third party blockchain data sources - to maintain service level agreement (SLA) standards.

What is Chainlink (LINK)

A Deep Dive on Chainlink

Chainlink serves as a bridge between the traditional world and the blockchain world, creating secure highways of information that connect these blockchain protocols to real-world data sources. In doing so, Chainlink helps to expand the functionality and reliability of blockchain smart contracts by providing them with real-world data and off-chain computations.

Overview and Purpose

Chainlink is an infrastructure project that solves a fundamental challenge in the blockchain space — the inability of smart contracts to access external data. By creating solutions that enable blockchains to communicate with each other and external "real-world" data sources, Chainlink plays a crucial role as a blockchain oracle in expanding their capabilities.

Network Architecture

At the heart of Chainlink's infrastructure are several key components that work together to enable secure data flow:

  • Data Feeds: These rely on oracles to deliver real-time external data to blockchain networks, ranging from commodity prices to weather data and sporting event outcomes.
  • CCIP (Cross-Chain Interoperability Protocol): This protocol enables different blockchains to communicate with each other, facilitating asset transfers and information sharing across multiple chains.
  • Data Streams: Optimized for low-latency data delivery, these streams use a dual-oracle system – one set retrieves data off-chain while another verifies it onchain.
  • Functions: These allow smart contracts to receive real-time data from Chainlink oracles without requiring developers to manage their own nodes.
  • Automation: This service enables faster scaling of smart contract-based services through automated integration with the oracle network.
  • VRF (Verifiable Random Function): This provides verifiably random values for applications requiring randomness, such as games.

Chainlink uses a unique consensus mechanism called Offchain Reporting for its operations.

LINK Token Fundamentals

The LINK token serves as the network's primary currency, used to pay network operators for providing external data to smart contracts. Additionally, token holders can stake their LINK (minimum 1,000 tokens) to contribute to network security and earn rewards.

Supply Characteristics

Chainlink has a maximum supply of 1 billion LINK tokens. The initial distribution was structured as follows:

  • 35% (350,000,000 LINK) allocated to Node Operators & Ecosystem
  • 32.3% (323,000,000 LINK) distributed through Private Token Sale
  • 30% (300,000,000 LINK) retained by the Company
  • 2.7% (27,000,000 LINK) sold in the Public Token Sale

The initial token sale occurred on September 17, 2017, at approximately $0.09 per LINK. The project expects to put about 70 million LINK into circulation annually, with full circulation projected by Q1 2030.

Project Development

Chainlink was launched on September 4, 2017, with its mainnet going live on May 30, 2019. The project originated in the Cayman Islands and was co-founded by Sergey Nazarov and Steve Ellis. Nazarov, who has been in the crypto space since 2011, serves as co-founder of Chainlink Labs and previously held positions at QED Capital and CryptaMail. Ellis, serving as CTO, co-authored the Chainlink whitepaper with Nazarov.

The project raised $32 million through its initial token sale, with $29 million coming from private investors at $0.09 per LINK and $3 million from the public at $0.11 per LINK.

Relevant Links

Chainlink (LINK) Price Today

Chainlink price today is $13.25.

109,955 LINK was purchased today on Kraken worth $1,456,905. Check out the LINK chart above for more real time price data. Want to get updates on the latest crypto prices on-the-go? Sign up today to receive LINK price alerts. Kraken lets you buy and sell 448 cryptocurrencies, including LINK. There are some geographic restrictions which may affect the assets that are available in your verified country of residence. View all crypto prices.

Chainlink (LINK) Price History

Chainlink price is +9.98% over the last year. The highest price of LINK in the last year was $29.43 and the lowest price of Chainlink in the last year was $9.49.

24h
-1.77%
7d
-0.48%
1m
-4.16%
1y
+9.98%

Categories

Kraken classes Chainlink to be within the following categories: Infrastructure, Smart Contract Platform, DeFi, Oracle, Solana Ecosystem, Avalanche Ecosystem.

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Chainlink FAQ

Can I trade Chainlink at a lower price?

Yes, you can choose what price you pay for Chainlink using Custom Orders on Kraken. If the price of Chainlink reaches to your desired price, the order will execute automatically.

Is now a good time to buy Chainlink?

Timing the market can be tough, but dollar cost averaging can help. By setting up recurring buys, you can constantly accumulate Chainlink over time and not worry about whether or not now is the best time to buy.

What is the daily trading volume of Chainlink?

109,955 LINK worth $1,456,905 was traded on Kraken in the last 24 hours.

What affects the Chainlink price?

A variety of factors affect the price of Chainlink including market sentiment, technical developments, user adoption and macro economic events.

How do I read the Chainlink price chart?

To read the Chainlink price chart, it can be useful to start by understanding the X-axis (which represents time) and the Y-axis (which represents the price). A line chart connects a crypto asset's closing prices with straight lines to clearly display its performance over time.

How can I analyze prices with the Chainlink chart?

Analyzing price movement using the LINK chart can involve identifying areas of support and resistance, or using technical analysis which is the study of past price movements to forecast future trends. However, it's important to remember that no method can predict prices with 100% accuracy due to the market's volatility.

Chainlink Dollar Cost Averaging Calculator

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Chainlink markets

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Content provided herein may originate from third parties not associated with Payward Ventures, Inc. (D/B/A Kraken) or any of its subsidiaries. Kraken does not vouch for or take responsibility for such third-party content. These materials are for general information purposes only and are not investment advice or a recommendation or solicitation to buy, sell, stake or hold any cryptoasset or to engage in any specific trading strategy. Any reliance on this content is at the reader’s own risk. Kraken shall not be held liable for inaccuracies or any decisions made based on this content. Kraken does not endorse nor validate the accuracy of the information provided for any specific asset. Displayed prices are merely representative and the actual values and related data may differ. The unpredictable nature of the cryptoasset markets can lead to loss of funds.