Urgent
CoinDeal is closed on 19th February 2023. Please withdraw all your funds immediately to avoid losing them.
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Important announcement
CoinDeal is a strong brand. So strong, that unfortunately some scammers have used our name to build some fraudulent scheme. SEC (US Securities and Exchange commission) charged creators of a Crypto Scheme with the same name as our exchange. You can read more about it here. Scammers built a fraudulent investment scheme (not an exchange!) using our brand. We are happy, that regulators work as they should and that scheme has been stopped, as crypto market needs transparency and trust. We are exploring possibilities to sue the companies involved for intellectual rights theft and loss for our brand. Our exchange works without issues, please do not hesitate to contact our support or withdraw your funds if you feel this situation makes you, our customer, feel unsafe. We always encourage crypto community members to keep funds on private wallets, and would like to use this situation to once again reassure our customers about full 1 to 1 coverage of crypto on our exchange.
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Chainlink is joining CoinDeal!

The new market is on - welcome LINK/BTC on CoinDeal!

 

Chainlink is a platform based on the Ethereum ecosystem that serves as a bridge between the world of smart contracts (also known as blockchain contracts) and entities, systems, and data operating outside the DLT world. 

LINK allows you to connect to external sources of information (oracle - also known as a relational database, also a popular Oracle technology). Currently, the platform cooperates with Bitcoin, Ethereum, and Hyperledger networks, and ultimately it is to cooperate with many smart contract systems, both on and off-chain.

Chainlink is a system proposal for obtaining safe and reliable data from various sources on the basis of "dispersion of sources and relational databases". The decentralized system selects data from different providers and consolidates it on a smart contract level. Previously there were developed oracles systems, but these were centralized solutions. LINK has the chance to become the basic decentralized interface of the oracle in the smart contracting ecosystem.

There are three types of contracts within the Chainlink network:

  • reputation contracts - they check the history and credibility of the oracle providers;
  • order-matching contracts - introduce the parameters specified in the service level agreement (SLA) and collect offers from oracle providers;
  • aggregating contracts - accumulate and balance data from selected oracle providers in order to obtain the most accurate results.