Chainlink (LINK) is a decentralized network that provides real-world data to smart contracts on the blockchain. Chainlink has been around since 2014, when it was originally conceived as a centralized oracle system that can verify incoming information. However, Chainlink has since morphed into one of the most important players in the crypto industry and is now among the top cryptocurrencies in terms of market capitalization.<\/p><\/div>\n<\/div>\n
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Chainlink Price History: Origin And Development<\/div>\n
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Chainlink was launched in 2017 after the crypto market started to take shape. It was at this time that LINK tokens first hit the market. Its co-founders, Sergey Nazarov and Steve Ellis, wanted to create a bridge between otherwise isolated blockchain networks and the outside world. This bridge was created in the form of a decentralized oracle network that could provide smart contracts on the blockchain with access to reliable data feeds and APIs.<\/p>\n
In 2017, Chainlink held an initial coin offering and raised $32 million to fund the network’s development, which was the first sign of its success and penetration into the blockchain industry.<\/p>\n
It wasn’t until 2019 when Chainlink first launched on the Ethereum mainnet to service a single ETH\/USD price feed secured by three oracle nodes. However, the Chainlink network has now grown into a large open-source community of data providers and node operators over multiple blockchains. Node operators stake LINK, Chainlink’s native token, as collateral to provide data and services to smart contracts. Node operators are also paid in LINK. These nodes aggregate real-life data from multiple providers to prevent any single point of failure and ensure high accuracy.<\/p><\/div>\n<\/div>\n
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Chainlink Price: Early Days<\/div>\n
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LINK, the native token of the Chainlink network, was first made available to the public in September 2017 after a successful ICO. Chainlink was launched with a max circulating supply of 1,000,000,000 LINK and 35% of the total supply was already offered in a token sale. The Link coin price at ICO was $0.11 and the crypto traded majorly below $0.20 in its first two months.<\/p>\n
Chainlink’s prospect and its fit into the crypto market enabled it to break above the $1 mark in no time. By January 8, 2018, LINK’s price had surged over 1,200% from its ICO price to reach $1.45. However, the price of LINK then consolidated throughout 2018, bottoming out at $0.16 in June 2018. The price remained relatively stable but low, under $0.50, for about 14 months.<\/p><\/div>\n<\/div>\n
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2019 To 2020: First Bull Run And Many Chanlink Price Predictions<\/div>\n