Chainlink is a cryptocurrency that has seen an impressive rise since its inception. Of course, this growth did not just happen out of the blue and the project experienced both peaks and troughs. But in the years since its launch, the project has been high on coinmarketcap’s list and that’s certainly impressive.

Information has become very accessible with the introduction of the internet. Anyone can add information to the web and that makes for an unprecedented growth in knowledge. This is only more difficult for smart contracts. How do you know if information found is the truth? This is exactly the problem that Chainlink solves with its Oracles.

In this article we therefore look at Chainlink. We will discuss the use case and the utility this may add to the cryptocurrency world. In addition, we will discuss the Chainlink expectation and the LINK coin. I hope this gives you a better idea of ​​the project and its potential for the future. What will the Chainlink crypto do?

Wat is Chainlink?

Chainlink is a project that focuses on improving smart contracts as we know them. In short, a smart contract is a contract that is programmed on the blockchain and that automatically checks the terms of the contract. A smart contract will also be executed automatically when both parties have met the conditions.

With this you can conclude a contract online and be sure that you are not being scammed, without physically signing the contract or even knowing the other party. With this, trust on the blockchain is programmed, as it were.

The only problem with smart contracts right now is that it has to use data from third parties to check the terms. Consider, for example, the payment of salary. A smart contract checks whether you have actually worked enough hours before the salary is paid.

For this, the contract therefore needs insight into the time registration and this is often difficult because this is not yet programmed as standard on a blockchain.

Oracle

Chainlink addresses exactly this problem. The project introduced the so-called ‘Oracle’. This allows you to connect the blockchain with data from the outside world, as it were. To follow the example used, organizations could link their time registration with Chainlink in order to program smart contracts that can retrieve this data.

The beauty of all this is that the data can be read objectively by the contract and is not dependent on the input by a third party. The contract uses Chainlink’s decentralized blockchain.

You can imagine that this is just one of the countless applications for which this can offer a solution. Everything indicates that the world in general is increasingly in need of decentralization, as we have also seen with the Internet itself.

Relying on the blockchain through Chainlink’s Oracles therefore has the potential to have a major impact in the future and as a result there is already a lot of speculation about the Chainlink course.

Chainlink was created from an ICO held in September 2017. A total of $32 million was raised during this token sale. Early investors could buy 2600 LINK coins for 1 Ethereum. This amounted to about $0.08 per Chainlink coin. The current LINK price is on $ 8.96.

The LINK coin has a maximum of 1 billion pieces. During the token sale, 35% was sold to the public. Another 35% is for the people who keep the Chainlink nodes and thus the network running. The remaining 30% is for the team behind the project so they can continue to develop.

If we look at the Chainlink price chart, we see that it was on coinmarketcap for the first time on September 25, 2017. The price was then $ 0.17. We see a very gradual growth until the bull market in 2021. The price then exploded, partly due to the rise of decentralized finance.

The Chainlink All Time High is at a value of $ 52.70 (May 10, 2021). It has been 459 days since the price reached this value.

It is good to keep an eye on the price over a lower term. In this way you can discover trends in the price, as we also saw in the run-up to the bull market of 2021. You can benefit from this if you keep track of this. Below is therefore the Chainlink price chart.

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The expectations regarding the Chainlink price are high. Many people believe that the Oracle application will have a major impact on future smart contracts. This confidence not only prevails among LINK investors but also among companies.

The largest companies in the world such as Google and Oracle are now also testing with Chainlink and this naturally inspires a lot of confidence in the Chainlink course.

The Chainlink price forecast is particularly positive because these large companies immediately bring a lot of data with them. If it turns out that the use of Oracle and Chainlink by Google is well received, then there is really nothing that stands in the way of LINK. No one has more data than Google. This is why the LINK forecast for the future looks rosy.

If we look at the Chainlink forecast for 2022, it is difficult to say anything about this. Anything can happen in the short term that could affect the value. Think of fake news, external factors such as the pandemic and you name it.

The Chainlink forecast for 2027 is different. It is clear that smart contracts are only becoming more important in our lives. This means that the connection between these contracts and real data is indispensable.

Can Chainlink become the project that meets this need? Then increases from 100% to even more are within reach. Things can go very fast in the crypto world. We have seen this more often in the case of the Chainlink crypto. For example, between May 2019 and May 2021, the price rose by no less than 11.106% (!).

Historical Price for Chainlink

Date Open Close High Low Volume

What is the LINK coin now?

On the network, the Chainlink coin is the currency. It is used by smart contracts to retrieve information. In addition, you can of course buy it as a share in the network. It is mainly used by most people as an investment.

We’ve talked about predictions, but it’s better to look at the use case and the coin information. Scarcity is important here. You can see this by comparing the current supply (467,099,987 LINK) with the maximum supply (1,000,000,000 LINK).

The more coins that have already been spent, the better this is for the future value of Chainlink. In the past 24 hours, the exchange rate difference -1.11% and in the last seven days it was this 23.07%.

By keeping a close eye on the trend in the price and combining this with the background information surrounding the project, you can hopefully paint a good picture of the future of the Chainlink crypto. Just relying on hype messages from your favorite Youtuber is not always the right strategy. In my opinion, it is better to do good research yourself and base your financial decisions on that.

Huidige supply 467,099,987 LINK Maximale supply 1,000,000,000 LINK
% difference 24h -1.11% % difference 7D 23.07%

Where to buy Chainlink?

If we are to believe the predictions, Chainlink is very suitable to include in the portfolio. In fact, everyone has high expectations of the project, partly because they have already won a number of large partnerships.

It is always a guess what the actual LINK price will do, but as long as you invest money that you can afford to lose, you will not lose sleep over it and you may have a nest egg. In any case, Chainlink has not disappointed in recent times.

You can easily buy Chainlink through Bitvavo. With iDEAL you deposit money and through a bank link you can also have your winnings paid out immediately. Read my review about Bitvavo here. Don’t have an account yet? Then make one below free account and immediately receive a welcome bonus of € 1000 in trading costs.

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The latest Chainlink news

We have already discussed several important things in this article that you should consider when choosing Chainlink. The coin data, the Chainlink forecast and things like that. The last major factor is today’s Chainlink news.

Here you will find the latest developments regarding the project. New collaborations, breakthroughs in technology, but also negative news. By following the Chainlink news closely you are always informed and you can therefore also be the first to respond to this. Waiting for your favorite influencer to tell you about this is often too late to stay ahead of the pack. You can consult the official Twitter account for this.

FAQ

Chainlink is the project that focuses on connecting real data to the blockchain world using oracles. The project has a market cap of $ 4,187,273,117 and is therefore in 24th place of the largest crypto projects. The current Chainlink price is $ 8.96 and in the last 24 hours it had a trading volume of $ 634,331,363.

Unfortunately, no one can tell you for sure whether the LINK crypto is going to rise or fall. All you can do is look at the developments of the project and the general crypto market and form your own opinion about it. At the moment, the future seems rosy in any case.

The Chainlink coin is the cryptocurrency on the network and the currency with which transactions are made within the ecosystem. Investors buy the coin if they have confidence in the future and expect a price increase.

The Chainlink rate in euros is 8,70 .

The Chainlink rate in dollar is $ 8.96.

If investors have confidence in the future of the Chainlink crypto, they will buy the token en masse. There are then more buyers than sellers and so the sellers can ask a higher price for their coins and the price rises.

If investors are not confident in the future of the LINK coin, they will sell the token en masse. There are then more sellers than buyers and therefore the buyers can pay less to still get coins. This causes the price to go down.

The best Chainlink wallet is still a hardware wallet, although every project also has its own wallet. A hardware wallet allows you to store your crypto separately from the internet, making it more difficult for hackers to access it.

In my opinion, the best Chainlink exchange for Dutch investors is Bitvavo. In this overview of exchanges you will find a number of platforms from which you can choose.