ChainLink (LINK) is one of the few cryptocurrencies to gain in value over the last month.
Link’s market value increased by 136% from $0.22 to $0.52 per token since July 19th. For quite some time, Link has not been immune to wider market drops as losses have generally been more muted.
One big change for the company has been their social media presence. They have really worked to increase their footprint. Sergey Nazarov, the project’s elusive main developer, has had multiple public appearances as of late, recently going on the “Off The Chain” podcast led by crypto mainstay Anthony Pompliano and talking about ChainLink and smart contracts.
Fireside chat with @tgonser of @docusign and @sergeynazarov on the future and business value of #smartcontracts. Companies that implement smart contracts will reap huge advantages, and other competitors will rush to catch up. pic.twitter.com/fg0NMSjjCp
— Chainlink – Official Channel (@chainlink) January 24, 2019
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If readers are unfamiliar, LINK is a blockchain oracle platform that connects to real-world applications and data and an API.
Chainlink was initially called SmartContract and aims to bridge the gap between blockchain and legacy systems. On-chain processing includes smart contracts with parameters specified in a Service Level Agreement (SLA). Oracle data is aggregated and verified to prevent tampering, and oracles are rewarded with LINK, Chainlink’s native Ethereum token.
Chainlink currently resides on the Ethereum blockchain and supports connectivity to other Ethereum dApps. It will soon support more blockchains, as interoperability is the focus of the entire project. Sergey Nazarov is the founder and he’s already working with the SWIFT payment network on the SWIFT Smart Oracle.
Oracle markets like Chainlink and Augur combine real-world data with blockchain technology to open new possibilities. Some believe it’s the natural evolution of cryptocurrencies and smart contracts.
According to the company:
Link is a decentralized oracle network that enables smart contracts to securely access off-chain data feeds and traditional bank payments. Chainlink is consistently selected as one of the top blockchain technologies by leading independent research firms.