Many factors make ChainLink unique. It is a concept dedicated entirely to making smart contracts more connected to the outside world. The smart contract concept was first introduced by Ethereum; however, their smart contracts can only manage data on the blockchain. They miss a bridge to real-world businesses.
Whatever the case, what are Blockchain oracles?
Blockchain oracles are third-party services that provide smart contracts with external information. They serve as bridges between blockchains and the outside world. ... Some oracles also have the ability to not only relay information to smart contracts but to send it back to external sources.
Brief, is chainlink a good buy? Chainlink, however has so much in the pipeline that at the current price and MC, it is not only a safe investment, but is almost guaranteed to bring strong returns.
Either way, why is chainlink so good?
The data source aside, Chainlink has created a way to reliably, and efficiently, provide accurate data to smart contracts on smart-contract enabled blockchains. ... Prices are set by the Chainlink node operator based on demand for the data they can provide and the current market for that data.
Why chain link is rising?
One of the factors that made it rise is the number of products offered. People can get crypto loans, make savings, and even earn interest on their chainlink coin, just to mention a few. The decline of the value of other digital currencies like Bitcoin has made investors look for other better options.