Education • 2 min read
By Aron Abraham
18.11.2021
How can two people who speak different languages communicate? The solution is fairly simple: they hire a translator, who knows both. Let’s take a look at Chainlink, the builder of bridges between the world of crypto and the “real” world.
Blockchains can have a hard time connecting to data from the real world, mostly because it’s hard for them to agree on which are the correct values to use. Enter Chainlink, that is, according to their official website
“A decentralized network of oracles that enables smart contracts to securely interact with real-world data and services that exist outside of blockchain networks”.
See the original tweet here.
Chainlink works like a trustworthy translation agency: any blockchain can be sure that the data coming from its oracles (individual translators) is properly transformed, validated by the Chainlink network and is ready to use on chain.
The Chainlink network is one of the most popular of its kind, and while the basic idea behind its technology is simple, it can be challenging to grasp all the information at once: that’s why we created Chainlink’s Crypto ID, where all that’s important about the network is collected and displayed in a structured and understandable layout.
“Research is not for me, it’s boring” - if this is you, the next 15 seconds of reading might change your mind. Even though researching before investing is very important, it’s not long hours of academic sourcing we are talking about. In fact, it is simpler than you might think, here are four steps we’d recommend:
Visit the coin’s official website - in Chainlink’s case, chain.link - and read up on the goals and status of the project;
Analyse price development - this is easy with basic charts in our Bitpanda Web App, or on our iOS and Android apps;
Ask yourself what kind of returns you would like to generate - do you prefer higher, but riskier returns quickly, or long-term results with possibly lower risk?
And then the ultimate question: will this altcoin help you to comfortably achieve your investment goals? Consider the figures, but don’t silence your intuition
At Bitpanda, you can buy Chainlink (LINK) with a few clicks on your phone or computer. Our easy-to-use interface makes investing in crypto and other digital assets a walk in the park. All you need to do is to register and verify on Bitpanda and you can start right away.
Bitpanda GmbH ve grup şirketleri (Bitpanda) Türk Parasının Kıymetini’nin Korunması Hakkında 32 sayılı Karar’ın 2/b maddesine göre Türkiye’de yerleşik sayılan hiçbir kişiye yönelik olarak 6362 sayılı Sermaye Piyasası Kanunu başta olmak üzere Türkiye Cumhuriyeti Devleti mevzuatı hükümleri gereği Türkiye’de faaliyet izni gerektiren hiçbir sermaye piyasası faaliyetine dair hizmet sunmamaktadır. Şayet Bitpanda’nın yabancı sermaye piyasalarında vermiş olduğu hizmetlerden Türkiye’de yerleşik kişilerin faydalandığı tespit edilecek olursa tüm zararları kullanıcıya ait olmak üzere bu hizmetler ivedilikle sona erdirilecektir.
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