CHAINLINK price, news and Forecast (LINK US DOLLAR)
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Grayscale vs. SEC deadline: Commission faces a midnight Friday deadline to challenge August 29 loss
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Loom Network price hits strong weekly resistance after 32% surge as LOOM ranks high on Korea’s Upbit
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Voyager founder charged by CFTC for fraud and by FTC for misleading investors that lost $1 billion
Voyager was among the first crypto companies to collapse and file for bankruptcy in 2022. While the platform has been making efforts to return its customers' assets since then, it looks like the regulatory bodies are not willing to be patient.
Bitcoin: Can BTC bears challenge crypto’s 2023 bull rally?
Bitcoin (BTC) price is at a critical juncture in the weekly time frame, where bulls and bears are battling for control. However, a multi-time-frame analysis shows that BTC is bullish daily and is likely to rally higher.
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WHAT IS CHAINLINK?
Chainlink is a decentralized oracle network that greatly expands the capabilities of smart contracts by enabling access to real-world data and off-chain computation while maintaining the security and reliability guarantees inherent to blockchain technology.
LINK tokens are the digital assets used to pay for services on the network.
Characteristics of Chainlink
Chainlink main objective was creating a blockchain that allows users to connect with real world data.
- Chainlink makes it possible for users to work with off-chain data.
- It offers the possibility of making payments through a contract to any payment system or banking network.
- Its users can use smart contracts which includes an oracle reputation called a service level agreement. It punishes the oracles that violate network rules or provide incorrect data.
- Uses an aggregation contract to collect all the off-chain oracles’ data to create a weighted aggregate response.
Differences between Chainlink and Bitcoin
Which are the main differences betweeen LINK and BTC?
- LINK demand and value of the tokens is directly correlated to the number of operators that offer off-chain services to the system.
- The LINK token is described by developers as an ERC-20 token, with the additional ERC-223 “transfer and call” functionality.
- The LINK token sale was capped at $32 million, with a total supply of 1 billion LINK tokens.
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