Link cryptocurrency surpasses XRP and ETH in terms of trading volume
LINK token breaks records for sales
LINK ranked second in terms of trading volume per day
The project intends to become the largest platform for oracles
International consortium of news organizations developing transparency standards.
The LINK cryptocoin, which has become a corporate token of the ChainLink project, a platform for connecting smart contracts with external data, is breaking records in terms of trading volume. In just a day, the cryptocurrency surpassed such popular coins as XRP, ETH and LTC, which for a long time retained their leadership in the crypto market.
In 24 hours, the LINK trading volume exceeded $ 130 million. For example, the daily trading volume of the ETH token was $ 118 million, XRP – $ 77 million, LTC – $ 44 million. At the same time, the LINK coin value is $ 3.40 per share.
What is ChainLink and why is it so popular
The ChainLink platform is a specialized oracular system developed on the basis of the Ethereum blockchain, which is the link between smart contracts and open external data. In fact, the site mechanism analyzes a huge amount of data from open sources and allows users to make predictions based on the results obtained. For example, such functionality can help football fans predict the outcome of a match, make the right bet on a specific team or athlete..
As for the oracles themselves, they can be any organization that has a sufficient amount of information and has the skills to interpret it. These can be stock or cryptocurrency exchanges, banking structures, payment systems. At the same time, the smart contract system allows oracles to provide the most accurate forecasts..
LINK tokens are the platform’s internal payment instrument. At the moment, the number of issued tokens exceeds 1 billion. Experts are sure that this amount of coins only harms the project. Especially after the unsuccessful ICO, which was completed due to a technical error 10 minutes after the opening. Nevertheless, the project intends to develop further, expanding the system of oracles and attracting users from all over the world..
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