Fun Facts About Chainlink | Coins.ph

Fun Facts About Chainlink

What is Chainlink?

Chainlink is the latest cryptocurrency that you can buy and sell on the Coins wallet. Here are some of main things you need to know about Chainlink:

 

1. A decentralized oracle network

Chainlink is a decentralized network of oracles that connect to the Ethereum blockchain. An oracle is a third party data provider that provides smart contracts with information from the outside world.

 

2. Connects smart contracts to real world data

Through its decentralized network of oracles, Chainlink connects smart contracts on the Ethereum network to real world data such as price feeds, live weather, market data, web API’s, and other online databases.

 

3. Used by companies such as Google, IBM, and Microsoft

Chainlink is working with Google’s enterprise data warehouse called BigQuery. Their goal is to build hybrid blockchain/cloud applications for Ethereum and Google Cloud through the use of Chainlink oracle smart contracts.

 

Chainlink is also part of the Interwork Alliance (IWA). The IWA is a nonprofit organization of 20 companies such as Microsoft and IBM, working together to create standards and to promote innovation within the tokenized assets industry.

 

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 In Blog, Digital Currency
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