When Did LINK Token Launch?170

Chainlink (LINK) is a decentralized oracle network that provides real-world data to smart contracts on the blockchain. It was launched on June 26, 2017, as an ERC-20 token on the Ethereum blockchain.

Background

Prior to the launch of Chainlink, smart contracts were limited in their ability to access external data sources. This made it difficult to develop decentralized applications that relied on real-world information, such as financial data, weather data, or supply chain information.

Chainlink addresses this problem by providing a decentralized network of oracles that can provide reliable data to smart contracts. These oracles are independent entities that are incentivized to provide accurate data by the Chainlink network.

LINK Token

The LINK token is the native cryptocurrency of the Chainlink network. It is used to pay for oracle services, and it also serves as a stake for oracle nodes that provide data to the network.

The total supply of LINK tokens is 1 billion. Of this, 35% was sold in the initial coin offering (ICO) in September 2017. The remaining 65% is held by the Chainlink team and is used to fund the development of the network.

History of LINK Token

The LINK token has performed well since its launch in 2017. As of August 2023, the token has a market capitalization of over $3 billion. The price of LINK reached an all-time high of $52.88 in May 2021.

The growth of the LINK token is due to the increasing demand for oracle services. As smart contracts become more complex and require more data, the need for reliable oracle networks will only increase.

Conclusion

Chainlink is a pioneer in the decentralized oracle space. The LINK token has performed well since its launch in 2017, and it is likely to continue to grow in value as the demand for oracle services increases.

2025-02-05

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