What is ChainLink? Price, history, wallets [UPDATED Nov 2024]

ChainLinkLINK14.50$ +-0.39%

Decentralized oracle network

21 Rank

9.14B$ Market Cap

380.94M$ 24H Volume

LINK price live chart

14.50$-0.39%

ChainLink Price statistic

ChainLink price

14.50 $

Price change (24h)

0.39% -0.06 $

Trading volume (24h)

380.94M $

Market Dominance

0.27%

Market rank

#21

All Time High

May 9 2021 (3 years ago)

72.33% 52.00 $

Market Cap

9.14B $

Circulating Supply

626.85M LINK

Download ChainLink wallet app

Store & Transfer LINK safely

Cropty is a convenient mobile app to store, transfer and receive ChainLink safely. Cropty supports multiple networks and cryptocurrencies. Investing in LINK becomes easy with Cropty wallet.

Monitor your LINK balance in USD

You can track your ChainLink value in 11 fiat currencies: USD ($), RUB (₽), EUR (€), INR (₨), THB (฿), KRW (₩), UAH (₴), GEL (₾), TRY (₺), GBP (£), BRL (R$).

Receive LINK in ETH network

Cropty cryptocurrency wallet supports Bitcoin, Ethereum, BNB Chain, Polygon and Tron networks. To receive ChainLink in Ethereum (ERC-20) network, just download the app, sign up and share your public address or QR-code with th sender.

Send ChainLink by mobile phone number with 0% fee

No more confusion with crypto public addresses: in the Cropty cryptocurrency wallet you can send ChainLink just by mobile phone number, QR-code and even a nickname! Make instant zero-fee ChainLink transfers in your usual ways.

LINK wallet mobile app for iOS and Android

Get access to ChainLink right in your mobile phone or any browser. Cryptocurrency investments wallet is already available for Android and iOS. Download Cropty to invest in ChainLink online.

ChainLink basics

Name

Chainlink

ChainLink token type

Token name

LINK

Token type

ERC-20

Token uses

Payments, Work

What is ChainLink used for in 2024?

LINK is used as both a payments token and work token. As a payment token, LINK is used to pay Chainlink node operators for providing oracle services. As a work token, LINK can be staked by node operators as collateral to provide oracle services.

LINK's staking function is optional and specified by smart contract creators requesting oracle services. Failure to provide adequate oracle services would result in a node operator's LINK being deducted. The extent to which LINK is staked will depend on how willing contract creators are to utilize nodes without collateral.

LINK's staking function is currently not live, but is expected to launch in 2020.

ChainLink history and first price

Launch style

Crowdsale

When did ChainLink launch?

LINK’s token offering launched September 19, 2017, with a $32 million hard cap. The pre-sale offering sold LINK at $0.09 per token with a 20% bonus depending on when the investor participated. The subsequent public sale sold LINK at $0.11 per token. Combined, both sales dispersed 350 million LINK. In total, 1 billion LINK tokens were initially issued and allocated as follows:

35% was allocated to the token sales investors
35% was reserved for Node Operators and ecosystem rewards that will be distributed to incentivize network participants
30% was allocated to LINK's parent company, SmartContract.com

How did ChainLink come about?

The Chainlink protocol was created in September 2017 and officially launched on mainnet in May 2019. Chainlink aims to solve the oracle problem, an inherent limitation of blockchain networks that prevents them from connecting to external data resources that exist off-chain. Through a decentralized network of independent oracle node operators, Chainlink provides a wide range of decentralized services to smart contracts including Price Feeds (financial market data used to power a large portion of the DeFi economy), __verifiable randomness __(enabling the creation of dynamic NFTs and fair on-chain gaming applications), proof of reserve (providing proofof off-chain collateral that is backing stablecoins and cross-chain tokens), the Keeper Network (transaction automation bots that provide autonomous DevOps services), and more.

The recently released Chainlink 2.0 whitepaper also broadens the capabilities of Decentralized Oracle Networks (DONs) and describes how the Chainlink Network is evolving to provide both tamper-proof data delivery and secure off-chain computation. Chainlink oracle networks enable the creation of highly scalable and privacy-preserving hybrid smart contracts that combine on-chain and off-chain infrastructure. Off-Chain Reporting, a recent scalability upgrade of the Chainlink Network that lowered the gas costs of oracle updates by 90%, represents the first move towards achieving the goals laid out in the whitepaper.

ChainLink roadmap 2024

Price Feeds Launch

January 1970 · Network Integration

Chainlink Price Feeds launched to provide the smart contract ecosystem access to tamper-proof financial market data, enabling the creation of a wide range of DeFi applications.

Mainnet Launch

May 2019 · Mainnet Launch

Chainlink launched its first decentralized oracle network on the Ethereum mainnet following three successful security audits.

Off-Chain Reporting (OCR) Launch

February 2021 · Network Integration

After a year of development and security audits, Chainlink Off-Chain Reporting (OCR) officially launched on mainnet, marking a major milestone in the scalability of Chainlink's decentralized oracle networks.

2.0 Whitepaper

April 2021 · Project Operations

The Chainlink 2.0 whitepaper was released, outlining a foundation for hybrid smart contract adoption via off-chain computation and a decentralized metalayer.

Verifiable Random Function (VRF) Launch

May 2021 · Network Integration

Chainlink Verifiable Random Function (VRF) utilizes verifiable random functions to generate randonmness that is verifiable on-chain.

ChainLink technology explained

Chainlink is a decentralized oracle network that enables smart contracts to securely interact with real-world data and services that exist outside of blockchain networks. Chainlink is not a monolithic network like a blockchain but rather an infrastructure and framework for building blockchain-agnostic oracle networks that augment the capabilities of blockchains and layer-2 protocols.

Each Chainlink oracle network consists of multiple independent oracle nodes that fetch data from multiple independent data providers, aggregate the data into a single data point, and deliver it on-chain to be consumed by smart contracts. Chainlink's flexible architecture allows for highly configurable oracle networks that can be composed of any selection of node operators and data providers and that use different network parameters such as update frequency, fee payment amounts, and more.

Chainlink nodes are operated by professional DevOps infrastructure providers, leading enterprises, and premium data providers who supply smart contracts with access to cryptographically signed data for additional security guarantees. Because of its flexible design, Chainlink can provide any type of data or computation to any smart contract application operating on any blockchain network.

ChainLink core contributors

Individuals

Companies

Ari Juels

Chief Scientist

He is co-director of IC3 (Initiative for Cryptocurrencies and Contracts) and Chief Scientist at Chainlink Labs. He was previously the chief scientist of RSA. He is a Cornell professor.

Benedict Chan

Vice President of Engineering

Former CTO of BitGo, Ben Chan led the engineering team and is responsible for the company’s technological architecture and innovation. Ben began building Bitcoin and blockchain infrastructure projects in 2012, including wallet platforms, key management, early blockchain identity management, and machine to machine payments. With vast experience across blockchains and crypto technologies, Ben serves as the core driver for BitGo’s engineering initiatives. Prior to joining BitGo, Ben worked at Microsoft on the conversation understanding platform. Previous to his time at Microsoft, Ben was a partner and quantitative analyst for automated trading at Manticore Investment Group. He also worked as product manager at Zopim Communications and as an engineer at Vr-Zone. Ben holds a degree in computer science from the University of New South Wales.

Sergey Nazarov

CEO of Chainlink Labs

Starting his career at FirstMark Capital, he left to join the cryptocurrency revolution in 2011. He firmly believes blockchain technology has the ability to change the way societies distribute wealth, enforce contracts, and share critical information.

Steve Ellis

CTO of Chainlink Labs

Previously a software engineer and team lead at Pivotal Labs, where he worked on securing sensitive HIPAA compliant data and building scalable payments automation software. He's a big fan of Ethereum, Bitcoin and the decentralized future we're all building.

Chainlink Labs

Chainlink Labs is the developer of Chainlink's technology.

ChainLink supply limit

General Emission Type

Fixed Supply

Precise Emission Type

Premined Rewards

Is capped

Yes

Max supply

1000000000

ChainLink supply curve details

LINK's outstanding supply is fixed. Although the Node operators rewards (35% of the total supply) haven't yet been distributed, they are nonetheless liquid as there are no signs that they are locked within any kind of contract. Nodes get rewarded to retrieve and provide data, and the rewards are determined by the contract creator.

Who funds ChainLink core development?

8Decimal Capital

Anmi OECD

Venture capital cooperation organization focusing on investment in enterprises related to block chain technology.

Consensus Capital

We’re dedicated to blockchain, cryptocurrencies, and initial investments in Internet financial service projects. We’re not just an investor in the following projects; more importantly, we’re a partner who supports their growth.

Framework Ventures

Framework Ventures is a team of technologists, researchers, and investors who invest and participate in open crypto networks. The firm was founded in 2019 by Michael Anderson and Vance Spencer.

One Block Capital

Outlier Ventures

Outlier Ventures has been backing Web 3 founders since 2014 and is the world’s leading Web 3 accelerator program on track to accelerate up to 100 startups and protocols in 2021 through both Ascent and their earlier pre-seed/seed program (Base Camp). Both Base Camp and Ascent recruit at intervals throughout the year, looking for founders accelerating the open metaverse thesis by launching token networks. Specializing in a New Data Economy, NFTs, and DeFi they bring together a network of 1,000 of the world’s leading Web 3 founders, protocols, and VCs to mentor and invest.

USD to LINK converter

USD

LINK

ChainLink consensus

General consensus mechanism

Other

Precise consensus mechanism

Chainlink Smart Contract (In-contract aggregation)

ChainLink governance

Onchain governance type

No On-Chain Governance

What is ChainLink governance?

Who regulate ChainLink in 2024?

The Securities Framework Asset Ratings of the Crypto Rating Council (CRC) attributed the score of 2 out of 5 to Chainlink and provided the below summary:

Sale of the token or token interests after the system had existing utility
Absence of investment-like language or marketing
Decentralized development and usage

The CRC is a member-owned and operated organization whose purpose is to assess if a crypto asset, or its development, issuance, and use have characteristics that make it more or less likely to implicate federal securities laws. According to the CRC framework, a score of 5 results when an asset appears to have many characteristics that are consistent with the Howey-test factors. A score of 1 results when an asset appears to have few characteristics that are consistent with the Howey-test factors.

ChainLink official links

ChainLink blockchain explorers

Chainlink Etherscan

FAQ

1.What is the best app to store ChainLink?

Store ChainLink with Cropty cryptocurrency wallet by 3 simple steps:

Download the app from the Apple AppStore or Google Play, or open your browser wallet.
Create your Cropty wallet account with Face ID or Touch ID security options.
Transfer LINK from external wallet.

2. How can I receive ChainLink?

Receive ChainLink to your Cropty wallet by QR-code, phone number, e-mail and nickname:

Download the app from the Apple AppStore or Google Play, or open your browser wallet.
Create your Cropty wallet account, set up a nickname.
Click ‘Receive’ and follow the instructions.

3. How can I store ChainLink safely?

You can transfer your ChainLink holdings and store it safely with Cropty wallet. Cropty secures safety of your holdings through various verification options like using password, authenticator app, Face ID, Touch ID and backup codes. You can be sure no one can get access to you ChainLink holding except you.

4. How to start investing in ChainLink easily and securely?

Start investing in ChainLink with Cropty cryptocurrency wallet by 3 simple steps:

Download the app from the Apple AppStore or Google Play, or open your browser wallet.
Create your Cropty wallet account, set your authentication settings.
Transfer LINK from external wallet.

5. Why should I choose Cropty to store and transfer Bitcoin?

The Cropty wallet provides the most convenient application for storing and transfering ChainLink. Cropty targets to become one the best crypto wallets for Android and iOS in 2024. Cropty provides convenient application and secure custodial services, built for crypto beginners, as well as for crypto-savvies.

6. How can I receive ChainLink as payment?

You can receive ChainLink as payment in Cropty wallet. It is a convenient mobile app to receive, store and transfer ChainLink LINK safely and instantly. Open Cropty app, click ‘Receive’, follow simple instructions and get your ChainLink holdings immediately.

7. How can I receive ChainLink donations?

You can receive ChainLink donations instantly with Cropty wallet. Download Android or iOS app or open the web version, sign up, click ‘Receive’ and follow simple instructions. Share your address with someone who wants to donate you in crypto.

8. Can I send ChainLink without verification?

9. How can I send ChainLink without fee?

You can send ChainLink instantly without fee in the Cropty wallet. Download Android or iOS app or open the web version, sign up, click ‘Send’, choose ‘Send via e-mail, phone number or nickname’ and follow simple instructions.

10. How to make money with ChainLink?