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Buy Chainlink (LINK) in UK With GBP | CoinJar

Chainlink

LINK

£0.000GBP

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LINK price calculator

GBP

LINK

Overview

#18Popularity

OracleAsset type

2017Active since

What is Chainlink?

What is Chainlink (LINK)? And how do investors buy Chainlink on CoinJar? Chainlink is a that plays a crucial role in the world of decentralised finance (DeFi).

is a decentralised oracle network that bridges the gap between smart contracts and real-world data.

Decentralised oracle networks

Smart contracts on blockchains can’t access external data directly. Chainlink solves this problem by providing a decentralised network of oracles.

These oracles gather real-world data (such as stock prices, weather conditions, or sports scores) and feed it into smart contracts.

Imagine a smart contract that triggers a payment when a specific event occurs (e.g., a flight delay). To execute this, the contract needs accurate external data. Oracles act as trusted intermediaries, ensuring that smart contracts receive reliable information. This makes it a good solution for DeFi applications.

How does Chainlink solve the Oracle Problem?

The oracle problem arises because smart contracts cannot directly access external data. Chainlink addresses this by creating an incentive system for oracles. These oracles provide reliable data, gain a positive reputation, and are rewarded with LINK tokens. As they accumulate reputation, their accuracy and reliability increase.

Is Chainlink a good investment?

Here are some factors to consider.

Real-world adoption

The technology is actively used by various projects, including DeFi platforms, gaming, and supply chain management.

White paper and vision

The outlines its purpose and technical details. It’s essential reading for potential investors.

Team

Co-founded by Sergey Nazarov and Steve Ellis, both are experienced in blockchain technology.

Market demand

As blockchain networks expand, the need for reliable oracles grows. Chainlink decentralises this critical service.

Amount of LINK

Keep an eye on the circulating supply of LINK tokens. Scarcity can impact its value.

Cash, credit or crypto?

Buy Chainlink using Visa or Mastercard. Get cash in your account with Faster Payments Service (FPS). Convert crypto-to-crypto with a single click.

How to buy Chainlink with CoinJar

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Step oneDownload the appGet the CoinJar app on iOS or Android.

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Step threeMake a purchaseBuy more than 60 cryptos using Faster Payments, SEPA, bank transfer, or a debit card.

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Frequently asked questions

What is Chainlink?

Chainlink is a decentralised oracle network that plays a crucial role in connecting smart contracts on blockchains with external data sources, APIs, and systems.

It ensures that smart contracts can have protection when accessing real-world data, such as prices, weather conditions, or other relevant information.

Standard Risk Warning The above article is not to be read as investment, legal or tax advice and it takes no account of particular personal or market circumstances;

Important Note for UK Residents: If you come across this article, remember that cryptocurrency investment is high-risk. Be prepared to lose your entire investment. No protection is guaranteed if things go wrong. Remember, this article does not constitute

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