Chainlink: Bridging Blockchain Networks with Real-World Data

Chainlink: Bridging Blockchain Networks with Real-World Data

Chainlink (LINK) is a decentralized network providing real-world data to smart contracts, crucial in the crypto industry since 2014. Its growth highlights its importance in decentralized finance.

Jesse Anglen
July 24, 2024

looking for a development partner?

Connect with technology leaders today!

Schedule Free Call

Chainlink (LINK) is a decentralized network that provides real-world data to smart contracts on the blockchain. Since its inception in 2014, Chainlink has evolved into a crucial player in the crypto industry, now ranking among the top cryptocurrencies by market capitalization.


Chainlink was initially conceived as a centralized oracle system. However, in 2017, it launched as a decentralized oracle network, raising $32 million in an initial coin offering (ICO). By 2019, Chainlink launched on the Ethereum mainnet, initially servicing a single ETH/USD price feed. The network has since grown into a large open-source community of data providers and node operators across multiple blockchains.


Node operators stake LINK tokens as collateral to provide data and services to smart contracts. These nodes aggregate real-life data from multiple providers to ensure high accuracy and prevent any single point of failure.


LINK tokens were first made available to the public in 2017 at $0.11 per token. By 2018, LINK's price surged to $1.45 but later consolidated, bottoming out at $0.16. In 2019, LINK's price surpassed $3 for the first time, reaching $3.80.


In 2020, LINK reached a new all-time high of $19.11. By 2021, LINK peaked at $52.7 but later fell to $13.88. Despite the price fall, Chainlink's network adoption continued to grow, surpassing $75 billion in Total Value Secured (TVS).


Chainlink has established itself as a leader in decentralized finance, providing reliable data feeds and APIs to smart contracts on the blockchain. Its continuous growth and adoption highlight its importance in the crypto industry.


For more insights on blockchain and AI, check out our Rapid Innovation Blogs.


Top Trends

Latest News

Get Custom Software Solutions &
Project Estimates with Confidentiality!

Let’s spark the Idea