Beaxy allows you to trade LINK with convenience. Our user interface is customizable and can be optimized for beginners and experts alike. Reduce your risk by storing LINK in our custodied wallets.
To access all of Beaxy’s features:
– Register at Beaxy.com/register
– Complete Verification
– Fund your account – Make a deposit or buy crypto with your credit or debit card
– Start Trading!
Beaxy provides advanced charting tools, a revolutionary swipe trading app, world-class FIX and REST API, and FIAT onboarding and offboarding to make for the best possible LINK trading experience. Trade LINK in the most sophisticated and simple ways on Beaxy.
LINK currency pairs
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Chainlink is a distributed oracle network that facilitates connections between smart contracts and external smart contract platforms. This enables a smart contract running on one chain to access and utilize data that is stored on a different blockchain. This removes any requirement for a smart contract to be dependent on a trusted third party. Chainlink’s mainnet protocol was launched on the Ethereum blockchain on June 1, 2019. Anyone hosting data or an API can seamlessly participate on the Chainlink platform by filling requests to provide data to other smart contracts. Node’s that provide data are compensated with the Chainlink (LINK) token. These tokens can be staked to collateralize a smart contract.
Chainlink solves the issues found with most smart contracts platforms that are not able to communicate with and extract data from external sources. There is a pressing need for smart contracts to have this capability. Chainlink’s solution to this problem was a highly reliable distributed oracle network, which offers equal security measures to that of a smart contract. By giving multiple connection points the ability to evaluate the same data before it is triggered removes all single points of failure on the network. This also helps to maintain the total value of a smart contract with enhanced security. Chainlink’s oracle solutions aim to fix the problems associated with centralized oracle providers. Centralized oracles do not share the same level of tamper resistance, trulessness, and immutability that is available on a decentralized system.
Chainlink offers a variety of security services which include: a validation system, reputation system, certification system, contract-upgrade service, and LINK token usage. Chainlink’s validation system manages oracle activity within the network. This results in performance measurements that can help advise on which oracles to engage with. The validation system looks at the availability and correctness of each oracle. Availability in this case is defined as the amount of times an oracle responded to a job request in a fast manner. The statistics of each oracle are tracked in real-time. Correctness is measured as the overall deviation between data recorded by a particular oracle versus other oracles on the network. The reputation security system tracks and posts ratings for oracle suppliers and nodes, allowing users of the network to assess each oracle individually. The reputation system combines analysis from the validation system to get a clearer understanding of the performance of each oracle. The criteria for determining overall performance includes: the total requests assigned, the total requests that were completed, the total number of accepted requests, the average response time, and the occurrences of penalty payments. The certification service protects against one-off attacks such as en bloc cheating, mirror attacks, and Sybil. Chainlink’s certification security service provides endorsements of the top performing oracle suppliers. The contract-upgrade security service is optional and provides protection against vulnerabilities by closing suspicious oracles and creating a new set to fulfil the parameters of the original.
Chainlink’s protocol achieves a high standard of decentralization. They do so by fostering independent and geographically-distributed node operators that perform tasks to secure the network and maintain the infrastructure. Data that is sourced both internally and externally are provided by elite API suppliers. The data follows a comprehensive review and validation before it is integrated into a smart contract on the Chainlink network. The protocol also provides for end-to-end data security verification and immutability. Chainlink provides tools for developers to build DeFi solutions for a variety of use cases. For example, Chainlink enables Synthetic Assets which allow you to create virtual tokenized assets based on real-world assets. Additionally, these tools can be used to develop a lending and borrowing platform that requires trusted and verifiable external price feeds. With the same functionality, you can utilize Chainlink to develop a digital stablecoin that pegs its value to a real-world asset. The aggregated raw data is first captured and recorded by the nodes operating on the network. Once the nodes validated the data, your smart contract can begin to import it. From that point, your smart contract will have uninterrupted access to that particular price feed. Chainlink’s long-term plan for technological development are based on oracle confidentiality, off-chain calculation, and alterations to the network’s infrastructure.
Chainlink’s off-chain aggregation depends on a rudimentary decentralized protocol that requires a minimum amount of signatures to prevent freeloading on the Chainlink network. This is beneficial for querying the network as it enables one signature to be created by a group of oracle nodes on the network. Due to this, you only need one authenticated message to be processed on-chain instead of a multitude of messages from different oracle nodes. Using the off-chain aggregator mitigates costs of running and interacting with oracle nodes. Node operators on the Chainlink network are paid in LINK for the services they provide by fetching data from external blockchains and rearranging it so that it is compatible within the Chainlink ecosystem. Conversely, nodes operating on external blockchains like Ethereum have to pay node operators on Chainlink when they are requesting data internal to the Chainlink ecosystem.