Skip to content

What is This Cryptocurrency? Chainlink

three round silver and gold colored coins
Photo by Marta Branco on

Chainlink is a cryptocurrency that can be considered a relatively new cryptocurrency. Unlike Bitcoin and Ethereum, Chainlink was created more recently to solve some of the problems that the earlier cryptocurrencies needed to address. Chainlink allows for interoperability to work better for other cryptocurrencies. The ability to help multiple cryptocurrencies work together either for transactions or for building on a specific blockchain project allows for greater understanding of the cryptocurrency ecosystem. A very important topic to discuss concerning Chainlink is the ability for Chainlink to communicate with other cryptocurrencies. While there are other cryptocurrencies that are attempting this, Chainlink is one of the most recent and innovative cryptocurrencies.

While there are more than a thousand cryptocurrencies, it is impossible to learn about every single detail and every single project. When there is a cryptocurrency that can potentially unite the rest of the cryptocurrencies, that cryptocurrency becomes a very interesting project. Chainlink shows that cryptocurrencies can work together to help change the world rather than work against each other. While there are many types of cryptocurrencies and some are similar in functioning, each project can work together instead of attempting to do the opposite.

Recently, there was a partnership announced with social media concerning the use of Chainlink. If Chainlink can help bridge cryptocurrencies and user interfaces of websites or social media, it could potentially lead to a new level of marketing and access to a greater portion of the population. Instead of seeing cryptocurrencies as an obscure or difficult to understand concept, the merging of cryptocurrencies and social media can help individuals understand that cryptocurrencies can be used as  a mode of transaction and store of value rather than an abstract concept. Chainlink can help bridge both social media and cryptocurrencies and help with mass adoption.

The price of Chainlink is also causing the company to receive attention thanks to how it is working with social media platforms. The current price of Chainlink has increased to close to $8.65 which is an all time high for the year. While the price increase is impressive, the technology is more important since it allows for a new way of helping implement cryptocurrency technology to already popular technology. While there may still be a greater price increase due to the importance of the project, it is to be seen. The most important portion of the project is seeing how it works in bridging the different cryptocurrencies with the ease of use for websites.

Once a cryptocurrency allows for cryptocurrency use to be made easier, it can greatly help improve the reputation of cryptocurrencies. While it is possible to teach individuals how to use Bitcoin and Ethereum as well as how to create a digital wallet, having an easier user interface that also is connected to popular websites or social media sites could potentially help mass adoption.

%d bloggers like this: