Review on Chainlink by Mr Benji

Name: Chainlink
Item: Chainlink
Rating: 5

June 14, 2019

Price Peak

1. Team -
 behind the project is headed by a company called SmartContract, founded in September 2014. The leading figures creating the project include Sergey Nazarow - CEO, entrepreneur, in the blockchain industry present from in 2011; Steve Ellis - CTO, who cooperated with Nazarow as part of the Secure Asset Exchange, as well as a developer at Pivotal Labs; Ari Juels - professor of computer science at Cornell Tech, co-creator of the concept Proof of Work (PoW), one of the authors of white paper and Andrew Miller - advisor, also cooperating with projects such as Zcash and Tezos.
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2. Technology - 
Chainlink is a system proposal for obtaining secure and reliable data from various sources on the principle of "dispersion of sources and relational databases". Decentralized oracles collect data from different suppliers and consolidate them at the level of smart contracts. Earlier, there were developed oracles systems, but these were centralized solutions. Chainlink has a chance to become the basic decentralized interface of the oracles in an intelligent contract ecosystem.


The Chainlink ecosystem allows communication between smart contracts and, among others, payment systems, website APIs, market data and other blockchains.
There are three types of contracts within Chainlink:

reputation contracts - check the history and credibility of the oracle providers;
contracts responsible for matching orders - introduce parameters set in the service level agreement (SLA) and collect offers from oracle providers;
aggregating contracts- accumulate and balance data from selected oracles in order to obtain the most accurate results.
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3. USE CASES - 
       contracts for insurance policies, when providing and verifying data on events such as natural disasters, flight delays, transport accidents (Chainlink cooperates with for example: AXA);
       services related to the broadly defined securities market: collection and processing of market data, information on the condition of companies;
       platforms that support gambling and betting - registering results of matches, horse races, etc;
       in payment processing systems, both inter-bank (partnership with SWIFT) and private; The Chainlink oracle system is used to flow information related to interest rates between five financial institutions: Barclays, BNP Paribas, Fidelity, Societe Generale and Santander.
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Updated 5 years ago

Rating has not been changed

Chainlink is on an absolute killing spree lately. Showing tons of partnerships and updates. The price is on the boom as well remember not to buy into the hype.
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- IoTeX & Chainlink partnership
- Ampleforth and Chainlink collaboration
- Connected Consensus on Ethereum
- Neblio and Chainlink Partnership
- LinkForest io | Chainlink / Reviewed Node Operator 
- Credits Integrate Chainlink’s Oracle 
- V SYSTEMS and Chainlink Collaboration
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