Back to top
  • 공유 Share
  • 인쇄 Print
  • 글자크기 Font size
URL copied.

Chainlink- Decentralized Oracle Network

작성자 기본 이미지
Sheena Jordan reporter

Thu, 01 Feb 2024, 09:52 am UTC

Chainlink is a decentralized blockchain oracle network (DON) built on Ethereum that facilitates smart contracts on blockchain platforms to securely connect with external data sources, APIs, and payment systems.

A DON is a network maintained by a committee of Chainlink nodes. It supports any of an unlimited range of oracle functions chosen for deployment by the committee. A major benefit of DONs is their ability to bootstrap new blockchain services. A DON thus acts as a powerful abstraction layer, offering interfaces for smart contracts.

Hybrid Smart contract - It is a smart contract that combines on-chain and computation from outside the blockchain provided by decentralized Oracle networks.

Proof of Reserves (PoR) verifies digital asset collateralization held by crypto businesses, helping bring greater transparency to depositors via public attestations and independent audits. provides smart contracts with the data needed to calculate the true collateralization of any on-chain asset backed by off-chain or cross-chain reserves.

Node operators -

Nodes are operated by individual entities known as node operators, which help in fetching, verifying, and transmitting data between smart contracts and the outside world. Networks have heterogeneous sets of node operators and designs. They may also differ in terms of the types of services they provide, which can include, e.g., data feeds, Proof of Reserves, verifiable randomness, and so forth. Node operators with high stakes are the best at earning LINK tokens.

LINKUSD gained more than 20% in the past four days. The pair holds well above the short-term (21 and 55 EMA) and long-term moving average. It hit a high of $16.05 and is currently trading around $15.70.

The bullish invalidation can happen if the pair closes below $12.50. On the lower side, the near-term support is $14.75. Any break below target $12.50/$9.34/$8. significant downtrend if it breaks $5.

The immediate resistance stands at around $16.60. Any breach above confirms bullish continuation. A jump to $18/$20 is possible. A surge past $20 will take it to $30.

It is good to buy on dips around $13.50 with SL around $10 for TP of $20.

TokenPost | [email protected]

<Copyright ⓒ TokenPost, unauthorized reproduction and redistribution prohibited>

Most Popular

Comment 0

0/1000

1