Chainlink is one of the popular crypto money projects that has stood out with its price performance in recent months. The project solves an important problem in the field of Blockchain. Before Chanlink’s existence, smart contract platforms could only do business with data contained in the blockchain. Applications were also limited, as data outside the blockchain, such as market data, event data, or bank payments, could not be reliably accessed. Chainlink acts as a bridge between real-world data and data in the chain. In summary, Chainlink has been developed to allow smart contracts to seamlessly and securely connect to external data streams and real-world events, including payment instruments.
The ICO of the project was realized in 2017 and was activated in 2019. Since then, Chainlink has established a number of important collaborations both from the cryptocurrency space and from outside.
Chainlink announced that it has reached a partnership with tech giant Google in June 2019. The development was confirmed by statements from both Google and Chainlink. As a result of this partnership, Google Cloud users can use Chainlink to connect to BigQuery, one of Google’s most popular cloud services. The news had a big impact on LINK’s price as well, and since then, LINK has experienced serious price increases.
Chainlink announced another important collaboration in October 2019. Team; Intel announced that it created the Trusted Computing Framework that addresses privacy and scalability issues in blockchains with HyperLedger and Enterprise Ethereum Alliance. Another big price rally at LINK followed this development.
Just last month, T-Systems, a subsidiary of German telecom giant Deutsche Telekom, announced that it has joined the Chainlink network as a node operator. The company started running a node on the network so that T-Systems would provide reliable real-world data to Chainlink network users and decentralized applications (dapp) on Ethereum.
In June 2019, Oracle announced that it will work with Chainlink to help startups using Chainlink’s oracles make money through their APIs on the Oracle Blockchain Platform.
National Blockchain Services Network
Another major catalyst for the LINK price was the integration with China’s National Blockchain Services Network (BSN). In June, BSN reported that the network has been integrated with Chainlink. In this way, government agencies and businesses could include verified real-world data into BSN applications using Chainlink oracles. BSN is a blockchain infrastructure services layer, supported by major Chinese organizations and companies, designed to provide a one-stop service for companies to access extremely low-cost Blockchain cloud computing services. BSN’s founding partners include China’s Government Information Center, China Mobile and China Unionpay.
In the Chainlink ecosystem, there are many formations within the cryptocurrency space. About 200 projects from Binance to Tezos are in the growing ecosystem of the cryptocurrency company Chainlink.