As developers begin to implement their chosen smart contract, they encounter the connectivity problem; their smart contract is unable to connect with key external resources like off-chain data and APIs. This lack of external connectivity is due to the method by which consensus is reached around a blockchain's transaction data, and will therefore be a problem for every smart contract network.
The LINK Network is the first decentralized oracle network; allowing anyone to securely provide smart contracts with access to key external data, off-chain payments and any other API capabilities. Anyone who has a data feed, useful off-chain service such as local payments, or any other API, can now provide them directly to smart contracts in exchange for LINK tokens. Becoming a ChainLink Node Operator is an easy way to monetize your experience with a specific API as a developer. It's also a great way for data providers, payments providers and various online service providers e.g. e-signature to sell their API based services directly to a smart contract. If you'd like to operate a ChainLink Node to offer your services for direct purchase by a smart contract, we're excited to help get you setup. By creating a decentralized infrastructure for smart contracts to access critical off-chain resources, there is now a scaleable, secure and auditable way to add data, off-chain payments and APIs into a smart contract.
As developers begin to implement their chosen smart contract, they encounter the connectivity problem; their smart contract is unable to connect with key external resources like off-chain data and APIs. This lack of external connectivity is due to the method by which consensus is reached around a blockchain's transaction data, and will therefore be a problem for every smart contract network. ChainLink Connects Smart Contracts to Any/All External Systems & APIs.
Attention. There is a risk that unverified members are not actually members of the team
Opportunities:With oracle, blockchain technology and smart contract will become vastly more useful. People would be able to execute different kinds of contracts in a trustless manner. I believe ChainLink’s oracle will help blockchain technology reaching mass adoption. ChainLink’s partnership with SWIFT, which is used by over 11,000 banks worldwide, allows ChainLink to easily partner with other financial institutions going forward.The team has been working together in the blockchain space for a few years already and came up with functioning products in their previous venture.Network effect is present because the ChainLink platform is more useful when it is the go-to source for blockchain data feeds, so that users don't need to go to several sources for different types of data.
Concerns:The team has not been very responsive to community's questions for the past two weeks. This may drive some potential participants away as they may prefer a team with more transparency.
Conclusion:Overall, I like this ICO both for short- and long-term potential. This is one of the projects that can push blockchain forward and allow smart contracts to be actually “smart”.Our thoughts of the tokens for short term and long term are as follows:For short-term holding:Good because 1) the project has a strong team and advisors, 2) the partnership with SWIFT legitimized ChainLink and provided traction, 3) tokens will be distributed immediately after the end of crowdsale, and 4) a portion (amount unspecified) of the hard cap is already sold in presale.For long-term holding:Good because 1) ChainLink is solving a real and highly lucrative problem with tons of use cases, and 2) the project has traction already with SWIFT being a paying customer.
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