MafiaJop
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Bullish
#CreatorPad The goal has been achieved and continues. A simple explanation of LINK:
LINK is the native digital currency of the Chainlink network, which specializes in transferring external data to smart contracts on the blockchain in a decentralized and secure manner.
Simply put, think of it as a courier that fetches real-world data like stock prices or weather and delivers it to smart contracts on the chain—and gets paid in LINK as a fee for the couriers!
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The current price of LINK
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The key features and uses of LINK:
1. ERC-677 on Ethereum
LINK is built on the ERC-677 standard, which is an enhanced version of the ERC-20 standard that allows sending data with the transaction—meaning not only do you pay with LINK, but you can also send important data along with it!
2. Rewards for Node Operators
The nodes in the Chainlink network gather data from the internet and deliver it to smart contracts. When they succeed in their task, they receive rewards in LINK.
3. Staking – play smart
You can stake LINK as a form of collateral or protection, and participate in securing the network in exchange for earning additional rewards.
4. Payment for services (Oracle Services)
If a smart developer wants to call real data (like currency prices or match results), they use LINK to pay for translating that data to smart contracts.
5. Chainlink's role in blockchain
Chainlink is a decentralized external reference network (Oracle Network) that solves the "Oracle Problem" — allowing smart contracts to reference the world outside the chain.
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LINK is the native digital currency of the Chainlink network, which specializes in transferring external data to smart contracts on the blockchain in a decentralized and secure manner.
Simply put, think of it as a courier that fetches real-world data like stock prices or weather and delivers it to smart contracts on the chain—and gets paid in LINK as a fee for the couriers!
---
The current price of LINK
---
The key features and uses of LINK:
1. ERC-677 on Ethereum
LINK is built on the ERC-677 standard, which is an enhanced version of the ERC-20 standard that allows sending data with the transaction—meaning not only do you pay with LINK, but you can also send important data along with it!
2. Rewards for Node Operators
The nodes in the Chainlink network gather data from the internet and deliver it to smart contracts. When they succeed in their task, they receive rewards in LINK.
3. Staking – play smart
You can stake LINK as a form of collateral or protection, and participate in securing the network in exchange for earning additional rewards.
4. Payment for services (Oracle Services)
If a smart developer wants to call real data (like currency prices or match results), they use LINK to pay for translating that data to smart contracts.
5. Chainlink's role in blockchain
Chainlink is a decentralized external reference network (Oracle Network) that solves the "Oracle Problem" — allowing smart contracts to reference the world outside the chain.
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Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.
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