Chainlink price

The real-time price of Chainlink (LINK) is determined by collecting the most-up-to-date data from 211 exchanges and 498 markets. This data is then aggregated using a global volume-weighted average formula.

Chainlink (LINK) cannot be mined directly. Instead, it utilises the proof-of-stake method where validators are chosen based on the number of tokens they stake.

Transactions on the Chainlink blockchain are validated by these validators, who receive rewards in the form of LINK tokens for their work.

During its creation in 2017, 1000000000 LINK tokens were issued, with 35% sold in an initial coin offering (ICO), 20% allocated to smart contracts and 35% held in reserves for purposes such as validation compensation.

It’s important to note that the total token supply is capped at 1,000,000,000 and no additional tokens will be created beyond this amount.

Chainlink can be bought at BTC Markets, your reliable cryptocurrency trading hub in Australia. We offer secure transactions, instant AID deposits/withdrawals, and 24/7 trading for top cryptocurrencies.

Chainlink is a valuable cryptocurrency since:

• It is a decentralised oracle network that connects blockchain smart contracts with real-world data sources.
• It enables blockchain applications to access reliable and tamper-proof data, expanding their functionality and versatility.
• It enhances trustworthiness and integrity of blockchain based systems by providing accurate information from multiple sources.
• Its decentralised nature ensures data security and eliminates reliance on a single centralised source.
• Its ability to bridge the gap between blockchain and external data makes it a valuable tool for the cryptocurrency industry.