Chainlink Live Price

What is Chainlink?

As a decentralized oracle network, Chainlink (LINK) gives a hand in providing real-world information to smart contracts that run on a blockchain. Its goal is to deliver input from external sources that may influence the markets. These 'off-chain' events could include fiat currencies, sports scores, credit cards, and even the weather. Oracles or data providers receive incentives to bridge blockchain smart contracts with real-world data sources to meet and execute terms properly. For instance, there are smart contracts that need the Internet of Things or market price data when replicating insurance agreements or bonds. These oracles are given reputation scores based on the accuracy of data. Nodes that deliver valuable data and follow software rules receive rewards in the form of LINK, Chainlink's cryptocurrency. It weeds out dishonest centralized data providers by having verifiable data along with the distributed network of nodes. Chainlink was introduced in 2019 on the Ethereum blockchain but is designed to be agnostic so that it works with other blockchains as well. LINK, the network's native token, helps finance further developments on the project, much like in Ethereum and Bitcoin. Incentivizing providers with this token could be the key to the long-term viability and stability of the industry. The current market cap is valued at about $18 billion, with a circulating supply of over 400 million tokens.

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How much is Chainlink worth?

Chainlink (LINK) is worth 13.37 USD as of March 15, 2022, 2:17 am UTC time. View the interactive graph to see how much Chainlink has changed in the last hour or historically. Chainlink (LINK) is an Ethereum token that powers the Chainlink decentralized oracle network. This network allows smart contracts on Ethereum to securely connect to external data sources, APIs, and payment systems.