LINK Breaks Major Resistance And Hits All-Time

 LINK Breaks Major Resistance And Hits All-Time

Chainlink is one of the top-performing coins in the Crypto space, experiencing a massive 4,000% growth since its inception. LINK even outperformed BTC by 2,000% – an impressive feat considering that BTC exceeded most altcoins. LINK recently broke its resistance between $4.8-5 and is now making higher highs.

What is Chainlink?

Chainlink is a decentralized oracle network made up of both purchasers and providers of data. It acts as a secure middleware, connecting "smart contracts" to real-world data. 

Purchasers request data, and providers securely return the data. By allowing multiple Chainlinks to evaluate the same data before it becomes a trigger, the company eliminates any one point of failure. This process maintains the overall value of a smart contract that is reliable, highly secure, and trustworthy. Chainlink thus provides the smart contract with the inputs and outputs it needs to reach its full potential. 

Looking ahead: Chainlink partnered with many Decentralized Finance projects, including AAVE and Synthetix Network (which we have previously analyzed) to provide their smart contracts with highly secure and reliable real-world data. Therefore, as DeFi projects increase in popularity, so does Chainlink's use, propelling the coin to reach new heights.

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