ChainlinkLINK#16

LINK is the native cryptocurrency of oracle network Chainlink (LINK), a platform based on developing the smart contracts technology popularised by Ethereum and introducing data beyond the blockchain. Real-world information necessary for a contract to complete itself (like weather forecasts, for instance) is fed in by ‘oracles’ connected to the Ethereum network, bringing outside factors into calculations that would otherwise be limited to their closed blockchains. Chainlink operates on a reputation system, which means that operators with lots of tokens will be offered bigger contracts. On the other hand, errors in processing result in tokens being deducted; the system incentivises integrity and honesty, creating a virtuous circle of community involvement. After its launch in 2017, 32% of LINK tokens went to operators, 35% were sold to the public and 30% stayed with LINK for future expansion. Chainlink is used by numerous tech giants including Google, Aave, Synthetix and Compound, and its innovative oracle proposition has proven applications beyond crypto trading.