ChainLink (LINK) - the cryptocurrency on which Intel has bet

ChainLink (LINK) - the cryptocurrency on which Intel has bet

The ICO lasted XNUMX hours, although only players with a really big wallet could take in it. No wonder, because it is the first cryptocurrency platform that is fully integrated with the international interbank SWIFT system.

We continue the cycle of the Forex Club portal, in which we describe the largest, most interesting and most famous cryptocurrencies in the world. Today it's time for ChainLink (LINK) - it is a platform based on the blockchain technology used by Ethereum. The utility also has a token called LINK. It was created so that suppliers can charge fees for smart contracts created within the network, and today is one of the cryptocurrencies that have the largest capitalization in the world.

ChainLink is to solve problems that arise on the line between smart contracts and data sources that come from outside. Communication between them is not only unstable, but even impossible. Mainly due to their greatest… advantage, that is - figuratively speaking - security features which, on the one hand, do not allow fraud through external interference, and on the other hand, hinder communication with any external sources. It can therefore be said that ChainLink is, in a way, an intermediary between institutions and business customers using smart contracts.

SWIFT - integration that opens all doors

There is a developer and entrepreneur Sergei Nazarov behind ChainLink, who founded the start-up in 2014 Smart Contracts in San Francisco USA. Since then, a lot has changed in a one-man company that outsourced work only to proven subcontractors. The company grew quickly, and the most important success of mid-2017 was full integration with SWIFT's API, which is by far the world's largest international interbank communication network. Among the companies cooperating with ChainLink there are also such giants as Intel operating in the broadly understood programming and production industry of IT equipment or the huge insurance company AXA.

The ICO was to last a month, it ended after only 24 hours

As part of the smart contract, 1 billion LINK tokens were created in the ChainLink network.  It was decided to sell 350 million of them during public records. Tokens are based on the Ethereum network, so they could be purchased for Ethereum. 1 ETH was priced at 2600 LINK tokens. However, a lower limit was introduced for depositors who had to invest min. 100 ETH, so that they could place an order at all, the acceptance of which began on 17.09.2017/100/30. For obvious reasons (the value of ETH 32 was then around USD XNUMX), the offer was directed to institutional investors and wealthier people. This did not prevent the extremely fast fundraising. On the first day, USD XNUMX million was collected, which was allocated for project development and closed registration.

ChainLink (LINK)

Currently, the LINK token is listed on 56 cryptocurrency exchanges around the world. The quotations began on 20.09.2017, when you had to pay USD 0,15 for one token. Already after the first four days the price increased by over 100 percent. As at 03.02.2020/1/2,78, you need to pay USD 974 for 29.06.2019 LINK, which gives a capitalization of over USD 4,52 million. We had the peak of quotations on June 2020, 80, when USD 35 was paid for one LINK token. In 1, the average daily turnover exceeds USD XNUMX million. Only XNUMX% are still available on the market. from the planned XNUMX billion tokens.