What is Chainlink and How to Buy

Chainlink is a decentralized oracle network cryptocurrency that bridges the gap between smart contracts and the data outside of it.

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What is Chainlink?

Chainlink was created in 2017 by Sergey Nazarov. Chainlink is a decentralized oracle network that functions as a data bridge between web 2.0 and web 3.0, connecting external data sources and public Blockchains. Chainlink is a middleware between smart contracts on smart contracting platforms and external data sources, allowing smart contracts to access off-chain data feeds securely. The native Cryptocurrency of Chainlink is called LINK.

The Chainlink network connects smart contracts to off-chain data from markets, events, and payments through its oracle network. To join the Chainlink network all that is needed is a data feed or any other API to retrieve and provide data to smart contracts. Node operators are paid in Chainlink LINK tokens for their services. Operators of nodes will also be able to stake LINK to service-specific smart contract requests that require collateral when staking launches on the main net.

Chainlink divides its domain into three key areas: Oracle Selection, Data Reporting, and Result Aggregation. Chainlink retrieves the feed, connects with external sources from web2, and collects the real-world data requested in the SLA (service level agreement). Oracles will process the data and send it back to contracts running on the Chainlink Blockchain. Lastly, the collection of the results of the data oracles return to an Aggregation contract. The Aggregation contract takes the responses, checks the validity of each response, and returns a score.

How to Buy Chainlink (LINK)

Chainlink was created in 2017 by Sergey Nazarov. Chainlink is a decentralized oracle network described as a data bridge between web2 and web3 external data sources and public Blockchains. Chainlink aims to serve as middleware between smart contracts on smart contracting platforms and external data sources, allowing smart contracts to access off-chain data feeds securely.

Where can I purchase Chainlink?

H2cryptO – LINK is purchased easily through a centralized exchange, such as H2cryptO. H2cryptO offers a simple interface within our H2cryptO web/mobile app, and we offer exceptional 24/7/365 live support. Please remember that once a cryptocurrency is lost, it can be difficult to recover.

Why buy LINK?

Chainlink has built partnerships with every major company within the Blockchain space go-to decentralized oracle network (DON) for integrating real-world data into smart contracts efficiently and securely. Chainlink was designed to interconnect smart contracts running on Blockchains to services providing APIs, payments, and the confirmation of real-world events. By doing so, developers can build a wider variety of products and services.

Purchasing LINK on H2cryptO:

  1. Sign up for an H2cryptO account. Provide full name/surname, email address, and a unique password (12 characters minimum).
  2. Verify your H2cryptO account. Please submit all documentation for KYC verification.
  3. Once KYC has been approved you are now eligible to deposit FIAT or Cryptocurrency. You can fund your cryptocurrency account by choosing a cryptocurrency, and then create a wallet address. Then you can send cryptocurrency to this address. Funding your account with FIAT currency can be completed by ACH, Wire Transfer, or Debit/Credit Card. 

  4. Once the ACH, wire transfer, or credit card transaction has been completed, you can start buying LINK. You now will have the ability to trade cryptocurrencies with 24/7/365 live client service support.

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