Why has Chainlink grown so much?

By Tyler Smith – Cryptocurrency Expert

The main project that ChainLink is focused on is essentially making smart contracts even smarter through providing real-time data to fragmented blockchain networks. These blockchains cannot translate the real-time data and so ChainLink will provide this in a form that can be utilised on the blockchains and interoperability between. ChainLink, as with the majority of blockchains, will operate in a decentralised way gathering and concentrating data from reliable outside sources.

Many blockchains are trying to encourage more to buy cryptocurrency with interoperability. This is ChainLink’s primary goal as it looks to improve smart contracts. ChainLink as of now runs smart contracts formed on the Ethereum blockchain. This means a user will be able to buy Ethereum to use within the network. Despite this, the company has suggested they’ll join their innovation into other digital currencies later in development.

Could this be the primary motivation behind users buying crypto recently on this network? The ChainLink network has an additional reason that should be considered, which is Coinbase.

Where does ChainLink Stand?

Coinbase, one of the most popular places to buy and sell Bitcoin and a few other assets, has added ChainLink to its lineup. Past rumours of this listing have come to fruition as Coinbase promised months ago that a new listing process was in development to speed up the process. 

They reported the listing on the 26th June on its stage for traders and institutions, Coinbase Pro. The price rally was low that day and the following, however, when it reached Coinbase on June 28, the price increased in an extraordinary manner. It went from $ 2.4 to $ 4.5 in under one day but has since settled at around $3.5. The Coinbase platform induced many users to buy and sell cryptocurrency with this new listing.

Head on over to our platform to buy Bitcoin UK from your trusted Bitcoin broker as well as ChainLink!

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