Chainlink price
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About Chainlink
Disclosures
Chainlink risk
This material is for informational purposes only and is not exhaustive of all risks associated with trading Chainlink. All crypto assets are risky, there are general risks in investing in Chainlink. These include volatility risk, liquidity risk, demand risk, forking risk, cryptography risk, regulatory risk, concentration risk & cyber security risk. This is not intended to provide (i) investment advice or an investment recommendation; (ii) an offer or solicitation to buy, sell, or hold crypto assets; or (iii) financial, accounting, legal or tax advice. Profits may be subject to capital gains tax. You should carefully consider whether trading or holding crypto assets is suitable for you in light of your financial situation. Please review the Risk Summary for additional information.
Investment Risk
The performance of most crypto assets can be highly volatile, with their value dropping as quickly as it can rise. You should be prepared to lose all the money you invest in crypto assets.
Lack of Protections
Crypto assets are largely unregulated and neither the Financial Services Compensation Scheme (FSCS) nor the Financial Ombudsman Service (FOS) will protect you in the event something goes wrong with your crypto asset investments.
Liquidity Risk
There is no guarantee that investments in crypto assets can be easily sold at any given time.
Complexity
Investments in crypto assets can be complex, making it difficult to understand the risks associated with the investment. You should do your own research before investing. If something sounds too good to be true, it probably is.
Concentration Risk
Don't put all your eggs in one basket. Putting all your money into a single type of investment is risky. Spreading your money across different investments makes you less dependent on anyone to do well. A good rule of thumb is not to invest more than 10% of your money in high-risk investments.
Five questions to ask yourself
- Am I comfortable with the level of risk? Can I afford to lose my money?
- Do I understand the investment and could I get my money out easily?
- Are my investments regulated?
- Am I protected if the investment provider or my adviser goes out of business?
- Should I get financial advice?
DeFi tokens
Decentralised Finance ("DeFi") tokens are crypto assets built on decentralised blockchain technology for financial applications or protocols. Risks linked to DeFi tokens include:
Enterprise Risk
Interactions between multiple DeFi protocols create a situation where a vulnerability or breakdown in one protocol can trigger a cascading effect, affecting other interconnected platforms.
Technology Risk
DeFi protocols frequently depend on external data sources or oracles, and any tampering or inaccuracies in these data streams can result in a lack of trust and reliability in the protocols.
Regulatory Risk
Governments and regulatory bodies around the world can introduce new regulations or ban certain aspects of the cryptocurrency market, affecting its legality and viability, which could affect token liquidity and/or value.
Legal Risk
Certain tokens may be used for operating a decentralised exchange platform which may contain additional risks:
- The platform may allow users to participate who have not been vetted or verified and therefore expose the possibility that users are interacting with sanctioned entities.
- The platform may be accessible in jurisdictions where some or all the exchange activity should be regulated. If a local regulator deemed the platform activity to be in breach of local regulation, they may request cessation or termination of the service which could affect token liquidity and/or value.
Market Risk
Given their novelty, the evolving technology involved and lack traditional asset structure, valuing crypto assets can be very difficult or impossible. This means valuations are determined by demand that is at risk of manipulation in various ways.
Chainlink’s price performance
Chainlink in the news
Polymarket has adopted Chainlink’s data standard to power its resolution process, the system that determines...
Chainlink will supply data for objective, fact-based markets. The challenge of reliably resolving more subjective bets remains.
Bitlayer, a Bitcoin layer 2 network, has migrated to Chainlink CCIP as its cross-chain infrastructure...
DigiFT, Chainlink and UBS won approval under Hong Kong’s Cyberport subsidiy scheme to build automated infrastructure for tokenized financial products.
US Senators Cynthia Lummis and Kirsten Gillibrand joined Chainlink Labs’ Adam Minehardt today to discuss...
Sei has integrated Chainlink Data Streams into the Sei Network as its preferred oracle solution,...
Chainlink on socials
Guides
Chainlink on OKX Learn
Chainlink FAQ
Chainlink is a decentralized oracle network that connects the blockchain ecosystem to the real world. Chainlink enables the operation of complex smart contracts that require off-chain data to function. Consider it a blockchain-based data protocol that allows independent data providers to relay data to smart contracts.
Chainlink began as a verifiable off-chain data provider but has since expanded its services to include more functionality in blockchain smart contracts. Chainlink products include high-quality data feeds for all types of real-world information, a random number generator called Chainlink VRF, Keppers to automate smart contract functions, Proof of Reserve, which allows project owners to publish transparent reports about their on-chain and off-chain reserves, and Cross-Chain Interoperability Protocol (CCIP), which assists developers in developing interoperable decentralized applications.
Easily buy LINK tokens on the OKX cryptocurrency platform. Available trading pairs in the OKX spot trading terminal include LINK/USDT, LINK/USDC, LINK/ETH, and LINK/BTC.
You can also buy LINK with over 99 fiat currencies by selecting the "Express buy" option. Other popular crypto tokens, such as Bitcoin (BTC), Ethereum (ETH), Tether (USDT), and USD Coin (USDC), are also available.
Swap your existing cryptocurrencies, including XRP (XRP), Cardano (ADA), Solana (SOL), and Chainlink (LINK), for LINK with zero fees and no price slippage by using OKX Convert.
To view the estimated real-time conversion prices between fiat currencies, such as the USD, EUR, GBP, and others, into LINK, visit the OKX Crypto Converter Calculator. OKX's high-liquidity crypto exchange ensures the best prices for your crypto purchases.
Dive deeper into Chainlink
Chainlink is a decentralized oracle network that enables blockchain-based smart contracts to access reliable real-world data stored off-chain. To accomplish this, Chainlink rewards data providers, known as oracles, for providing accurate and valuable data in exchange for Chainlink's native ERC-20 cryptocurrency, LINK.
Chainlink comprises nearly 1,000 independent decentralized oracle networks that provide crypto market data, FX rates, indices, weather readings, sports stats, election results, flight information, and other information to smart contracts on over 12 blockchain networks. Arbitrum, Avalanche, Ethereum, Fantom, Harmony, and Polygon are among the blockchains supported by Chainlink.
To become an oracle in the Chainlink ecosystem, data providers must first stake a predetermined number of LINK tokens to maintain the integrity of the network. If data providers are found to be involved in jeopardizing the network's viability, Chainlink will reduce its stakes.
Beyond being a provider of decentralized data, Chainlink offers several services, such as Verifiable Random Function (VRF), Keepers, Proof of Reserve (PoR), and Cross-Chain Interoperability Protocol (CCIP). The network's Off-Chain Reporting (OCR) also enables nodes to provide ten times more data to smart contracts while reducing operating costs by 90%.
LINK price and tokenomics
Chainlink's supply is hard-capped at 1 billion LINK tokens. Investors received 35% of the total supply, while node operators and ecosystem rewards received 35%. Chainlink's parent company, SmartContract.com, received 30% of LINK supply. LINK tokens enter circulation when node operators receive LINK as a reward, investors who hold LINK, or projects that receive LINK as an acquisition or sell them on the open market.
About the founders
Chainlink was founded in 2017 by serial entrepreneur Sergey Nazarov and software engineer Steve Ellis. Before launching Chainlink, Nasarov worked on several projects centered on peer-to-peer technology. He co-founded ExistLocal, a peer-to-peer marketplace for tourists, in 2009. He was instrumental in the launch of CryptaMail, a fully decentralized mail service, five years later. Nazarov also collaborated with Steve Ellis to launch two other companies in 2014, including SmartContract.com.
Chainlink's technical advisors include prominent figures inside and outside the blockchain industry. Eric Schmidt, former chairman, and CEO of Google, Jeff Weiner, CEO of LinkedIn, and Tom Gonser, co-founder of DocuSign, are among those on this list. According to Crunchbase, Chainlink has raised $32 million from investors such as Fundamental Labs, Andreas Schwartz, and Nirvana Capital.
Chainlink highlights
Chainlink integrates weather data from Google Cloud
Since 2019, Google Cloud and Chainlink have been working together to allow Chainlink to incorporate Google Cloud data. Chainlink has now fully integrated decentralized weather data from the Google Cloud in 2021. The Google Chainlink integration employs an oracle node, which continuously sends data from the outside world into the Chainlink network. This data is then combined and made accessible in aggregate form for blockchain applications.
Chainlink partners UNESCO and UNICEF
Chainlink joined forces with UNESCO in January 2021 to raise awareness about blockchain technology and support promising contributors. After a few months, Chainlink announced a partnership with UNICEF to fund blockchain applications in developing countries.
Chainlink 2.0
The Chainlink team revealed plans to optimize the protocol in April 2021 via the Chainlink 2.0 whitepaper. According to the whitepaper, the next set of upgrades will focus on enabling a trustless and more decentralized system for running the Chainlink protocol. Notably, a component of this strategy calls for establishing a staking-powered incentive mechanism. As a result, Chainlink can ensure that malicious node operators are penalized while honest data providers are rewarded by implementing a staking economy anchored by LINK.
In June 2022, more than a year after this publication was published, Chainlink announced that Chainlink 2.0 would allow LINK holders to delegate their stake to get more people involved in the protocol's validation process. In addition, the upgrade will include an advanced reputation-tracking system that will generate performance metrics for each node operator.
Disclaimer
OKX does not provide investment or asset recommendations. You should carefully consider whether trading or holding digital assets is suitable for you in light of your financial condition. Please consult your legal/tax/investment professional for questions about your specific circumstances. For further details, please refer to our Terms of Use and Risk Warning. By using the third-party website ("TPW"), you accept that any use of the TPW will be subject to and governed by the terms of the TPW. Unless expressly stated in writing, OKX and its affiliates (“OKX”) are not in any way associated with the owner or operator of the TPW. You agree that OKX is not responsible or liable for any loss, damage and any other consequences arising from your use of the TPW. Please be aware that using a TPW may result in a loss or diminution of your assets. Product may not be available in all jurisdictions.