What is Chainlink?
Chainlink (LINK) is a blockchain project in the Ethereum network. The cryptocurrency claims to be secure and reliable, with no need for centralized servers. This has great privacy and security benefits, as well as reducing possible attacks by bad actors.
Pros and Cons of Investing in Chainlink
- Highly scalable –
- Able to provide economic/financial data of all businesses in the country
- Decentralized nature means no regulatory or legal issues
- Very little time involved in actual data input, meaning anyone can earn tokens by contributing
- Ability to create secure smart contracts that are publicly available and transparent
- Not a superbly user-friendly interface for those not very familiar with coding
- Not as many partners willing to use Chainlink as other blockchain technologies (because of its more decentralized nature)
What makes $LINK so special?
Chainlink is a blockchain-based startup that seeks to revolutionize the global supply chain. It was founded in 2017 by Stephan Tual, a well-known figure in the cryptocurrency space and Ethereum community, and Sergey Nazarov, a software engineer with over a decade of experience working for companies such as Apple and Google.
But what makes it so special?
The Chainlink team has been in the industry for many years, having created two successful blockchain businesses before this project. The company has also been around since 2014, giving it a 5+ year head start over most other players in the space. Chainlink is being designed to be compatible with most existing blockchain networks, allowing it to be easily incorporated into other applications and platforms. This is an important factor for the long-term viability and success of any project, as compatibility ensures better growth and wider adoption among users.
Current price and market cap
Chainlink is a cryptocurrency that has been increasing in value steadily and rapidly over the past week following news of an upcoming software release. The most recent price is $16.58 at the time of writing, with a market cap of $7,744,113,098.
Chainlink Price Prediction
From hardware to software, Chainlink has it all. The company keeps on growing bigger every year, and some analysts are already predicting that the price of Chainlink will be $34.03 by 2022.
If Chainlink can create a platform that allows people to better use machine learning algorithms with blockchain data, then I think it definitely has a chance of increasing in price by 5x – 10x within 4 years.
Chainlink is a good investment because it has been able to show that the company can sustain itself. Investors will have faith in the company, making it more likely for them to take the risks associated with investing in Chainlink.