Review on Chainlink by Artur Vivo

the-Chainlink was launched in June 2017 by San Francisco-based fintech company SmartContract and is described by developers as blockchain middleware for connecting smart contracts to external data sources such as data feeds, web APIs, etc. Chainlink's developers believe that smart contracts are capable of transforming most existing industries by replacing traditional legal agreements with foundational blockchain consensus protocols through smart contracts, however today their ability to obtain data from external sources is limited. ChainLink cryptocurrency is one of those that facilitate consumer interaction with a supplier of goods or services. Due to the active integration of blockchain technologies into the life of an ordinary person, such currencies have been in maximum demand recently. ChainLink has developed a technology that forms such channels between various data providers using blockchain technology. Simply put, he created oracles that provide the implementation of a smart contract between the crypto infrastructure and third-party information sources. This allows the creation of information networks between several companies. These networks are not regulated by anyone or anything other than a smart contract and are inherently decentralized. Today, ChainLink is ready to provide a network compatible with Bitcoin, Ethereum and Hyperledger. In the future, it is planned to add support for other blockchains, as well as the ability to run one smart contract on multiple blockchains. For their services, node operators are paid in LINK tokens. According to the developers, the cost of the LINK token directly depends on the number of node operators, that is, the more popular the company's product becomes, the more expensive its token will cost. Some believe that the project does not need its own token and could use other cryptocurrencies to accomplish the same tasks. The developers in response to this object that the LINK token will gain its value with the launch of a full-scale network. Analysts positively consider the potential of the ChainLink platform, but highlight certain shortcomings of the system. The developers have tackled a very narrow and specific problem, which calls into question the relevance of its solution.The Chainlink system has the same functions as the blockchain and smart contract system, but at the same time it remains decentralized.