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About Chainlink
Chainlink DeFi token launched in the summer of 2017. It launched trading for LINK in
November 2017. In February 2020, Chainlink announced a partnership with Polkadot,
a blockchain technology company that strives to build relationships between
blockchain networks. A week later, Chainlink announced a partnership with Ethereum
Classic, along with several smaller DeFi projects and DAPs. The world's fastest
growing crypto asset, ChainLink (link), is under discussion after a positive rally. Now
investors have good reasons to make the bank smile because 100% Link Wallet is in
profit.
Chanlink announced in 2019 that Google was integrating ChanLink into its approach
to adopting smart contracts as to how users could use ChainLink, one of Google's
most popular cloud services, Can use to connect to BigQuery. The difficulty of
connecting smart contracts to information sources outside of the blockchain in a
language that they both understand is one of the main limitations on how smart
contracts can be used in a broad way.
Chainlink token Price and Trade analysis
2. Since its inception in 2017, the cryptocurrency had a stagnant growth rate and did not
have a significant amount of market cap or price of LINK coin in USD. By the end of
2017, when almost every other cryptocurrency was seeing a massive rise in its
valuation, Chainlink only saw slight growth in its market cap when it was $400 million
USD while the price of LINK coin in USD was at $1.06 USD per token. The
cryptocurrency market crash that brought down the valuation of almost every
cryptocurrency ever listed before the calamity also affected Chainlink but not that
significantly. While other cryptocurrencies were still coping with their losses after the
crash, Chainlink’s valuation started growing and by June 2019, the market cap had
increased to more than $1.5 billion USD while the price of LINK coin in USD increased to
$4.33 USD per token. In the subsequent months, the valuation kept growing and by July
2020, the market cap reached almost $3 billion USD. As of 19th August 2020, the
Chainlink market cap is at $5,902,853,494 USD while the price of LINK coin in USD
stands at $16.87 USD per token.
Is chainlink good investment?
The cryptocurrency network solves the key issues of obtaining off-blockchain information
as it has been plaguing the Smart Contract system since its inception. The gap that
exists between Smart Contracts and information that does not exist on the blockchain
can be bridged using the Chainlink network and its unique decentralized oracle network.
By bringing access to off-chain data to Smart Contract, it would open new avenues and
would bring forth a wave of upgraded Smart Contracts and efficient decentralized
applications. Since all the operation that is needed to be integrated with the network
exists in external APIs and data feeds, Chainlink token provides a means to integrate
this information into Smart Contracts. Besides bridging a gap between information
sources, the platform also eliminated the need to rely on a centralized source of
information on real-world events. Smart Contracts essentially changed the tide in its
favor by kicking off a new era of decentralized and tamper-proof agreements that
execute by itself and aims to deliver to all parties that are bound by it. This is quite a
drastic change from traditional blockchain networks that utilize data that is already
imputed into the blockchain during its creation. However, in order to maintain the level of
trust that Smart Contracts hold, it should not acquire its data from a centralized source of
information, such as an oracle, since each oracle service is centralized in nature. so that
investment in Chainlink token is good for crypto traders.
Buy and sell DeFi coin (Chainlink Token) in India
Since Chainlink token (LINK) is a renowned DeFi cryptocurrency and has already
overtaken Bitcoin SV when it came to valuation, the cryptocurrency is listed on many
cryptocurrency exchanges and can be acquired using other cryptocurrencies such as
BTC, ETH, and USDT and in some rare cases can also be bought using fiat currencies
such as USD. There are many local cryptocurrency exchanges in India that list Chainlink
token on their platform and can be acquired using other cryptocurrencies. BuyUcoin is
one of the best cryptocurrency exchange platforms that provide users with a wide variety
of cryptocurrencies to choose from and offers minimum trading fees to encourage users
to benefit from the cryptocurrency market
3. What is Polkadot ?
Polkadot (DOT) Token is considered as a next-generation blockchain network that aims
of connecting all the other cryptocurrency networks into one and creating one unified
network. The network was designed to create as a means to return control back to the
individual user from internet monopolies. Other than providing the same abilities that
previous blockchain platforms offered, Polkadot (DOT) token also provides its users with
additional advantages.
What Benefit of Polkadot (DOT) Token?
Blockchain giants like Bitcoin and Ethereum, even after upgrading their networks, are
not able to find a permanent solution to the issue of scalability. Almost every blockchain
platform, especially Bitcoin, suffers from scalability issues that in turn result in the
increment of its transaction fees and throughput time of the platform. The Polkadot
platforms solve the issue of scalability with its multi-network blockchain. Since there are
a number of networks connected with the Polkadot (DOT) token platform, this eliminates
the creation of a bottleneck that occurs while processing transactions. Polkadot (DOT)
token processes multiple transactions at once by processing them in multiple parallel
networks. This ensures that the scalability grows along with the development and growth
of the platform as a whole. The Polkadot token is governed by its community as they
hold transparent stakes in the future of the platform. This ensures that the platform is
governed according to the will of the users and does not have to rely on a centralized
authority for its governance who might use questionable data practices. The DOT token
platform also provides users with inter-network and cross-chain communication, hence
allowing newer and more creative innovations that would allow users to transfer
information from one chain to another.
How to mine DOT tokens?
Since the platform operates on the Proof of Stake (POS) system, it does not support
mining as a procedure to earn DOT coins from the network. Instead, the system calls
upon users to stake their coins on master nodes and use it as collateral in order to verify
and anonymize transactions and also vote on community proposals. The user with the
highest stake has the highest probability to earn rewards from the network in the form of
DOT coins, although all users eventually earn some rewards from the system. The
process of staking also results in the release of new blocks in the blockchain and any
individual can stake their coins on the node irrespective of the amount staked. The
expected returns from the blockchain can be calculated using a Return Calculator that is
available on the internet. The DOT Token founders wanted to create some changes in
those aspects where they felt most cryptocurrency networks lacked. This led them to
develop their own network which was centered more on privacy and shifted from the
Proof of Work (POW) system to Proof of Stake (POS) which they felt was a competitively
fairer system for the users. Along with the POS network, they also implemented a
system that automatically balances the reward payouts. The developers realized the
importance of privacy and security when it comes to conducting transactions and
exchanges on a daily basis.
4. Polkadot market trends and Trade analysis
Note: The Polkadot network underwent a redenomination of its DOT token on 21st
August 2020 from its original sale. The new DOT token is supposed to be almost 100x
times smaller than the original DOT token. This change would not affect the total value
as well as the amount of DOT coins owned by an individual. THE FOLLOWING
MARKET TREND EVALUATION IS OF THE OLD DOT TOKEN. The Polkadot
cryptocurrency network had one of the most successful ICO offerings of 2017, garnering
more than 485,331 ETH from the sale of 5 million DOT tokens. Hence, during its initial
days, the price of DOT token in USD was at an impressive $174.39 USD per token. By
the end of the year, the DOT token saw a significant amount of fluctuation in its
valuation. By January 2020, the price of DOT token in USD dropped a little to $140.73
USD while the price of DOT token in BTC shot up to 0.01919 BTC per token. The token
saw a gradual increase and in its valuation and by March 2020, the valuation of the
Polkadot cryptocurrency broke records and the price of DOT token in USD was at
$294.94 USD per token while the price of DOT token in BTC was at 0.03235 BTC per
token. The current price of DOT token in USD and BTC stands at $296.73 USD per
token and 0.025227 BTC per token respectively
History of Bitcoin ?
Bitcoin was invented by a group of unknown persons named 'Satoshi Nakamoto' and the
domain name bitcoin.org was registered on 18th August 2008 and released as open-
source software in 2009. There are so many cryptocurrencies pairs in India but Bitcoins
in INR is one of the most popular cryptocurrency pair in India. Nowadays
Cryptocurrencies are the most simple, fastest, transparent and less expensive way to
exchange as compared to the physical currencies. The valuation of Bitcoins in INR as
compare to other assets like real estate, stocks, gold, silver, coins and physical
currency, American companies Visa and MasterCard is 15 times more. If you desire to
buy bitcoins India and at the best price of bitcoins to Inr with full confidence then you are
at right place. Buyucoin is one of the most secure and safest cryptocurrency exchange
in India. It is the best platform to trade/ sell and buy bitcoins in INR. With easy manner,
to make deposit of fund into Buycoin Wallet to buy bitcoins in India, you can choose any
of your desired options like NEFT/RTGS/IMPS. At Buyucoin, using our expertise, we
offer you the safe, direct and fast processing of funds with zero trading fees to buy
bitcoins in Inr easily without any kind of hassle. We allow you to buy/sell bitcoins India
easily with-in minutes. At our platform you can easily know about the current price of
bitcoins to inr. To get the latest and accurate, price of bitcoins in inr to buy bitcoin India
you can blindly count on us.
What is Bitcoin Mining?
5. Bitcoin mining is the process of utilizing high-powered computers to solve complex
computational problems. Upon solving these computational problems, computers
produce a Bitcoin, although the probability of a computer solving a problem is almost 1
in 13 trillion. Other than that, there are two outcomes of Bitcoin mining. The first is the
production of new Bitcoin when the computer solves these complex problems on the
Bitcoin Network. The second outcome is the by-product of the computation process of
the computers, which make the Bitcoin networks trustworthy and secure as they verify its
transaction information.
What is Bitcoin Halving?
In order to tackle inflation and similar real-world economic issues, Bitcoin undergoes a
process known as Bitcoin Halving which results in the reduction of the production of
Bitcoins by half every four years or every 210,000 blocks mined. In this way, the Bitcoin
system creates its own synthetic inflation system until all the Bitcoins are mined and
released into the system. This system would continue until the year 2140, at which point,
the miners would be awarded transaction processing fees that would be reimbursed by
the network users. The fees would act as an incentive for Bitcoin miners to continue their
operations and would cause them to remain low after the halvings have come to an end.
Bitcoin Price and Trade analysis
Cryptocurrency rates have a tendency to fluctuate in short periods of time. As of 29th
June 2020, the price of 1 Bitcoin against the INR stands at 6,88,046 INR. The value of
the Bitcoin fluctuates on the basis of demand and supply. When the sale of Bitcoins
starts soaring, its value proportionately increases. But due to government bans in
countries or lack of willingness to invest would result in the subsequent fall of the price.
Although this might seem a high-risk situation to many greenhorns or even experienced
investors, a thorough and timely technical analysis is capable of predicting the market
trend of the cryptocurrency. It could also help in determining the most profitable entry
and exit points to traders and investors.
Why to Buy Bitcoin in India?
One of the main reasons for investment in Bitcoins is the high profitable returns that the
Cryptocurrency provides to the investors in a comparatively short period of time. The
value of a single bitcoin has increased from around 3,00,000 INR in 2019 to 6,88,046
INR in 2020. Other than that, since the Indian Supreme Court has lifted the ban on
cryptocurrencies, many businesses and financial institutions have started adopting
Bitcoin as a legitimate mode of payment and are expected to have a huge growth rate in
the coming years. Software giants like Microsoft have already adopted Bitcoin as a
means to purchase their products in its Windows and Xbox stores.
How to Buy Bitcoin in India?
The existence of the misconception that buying Bitcoins in India is a difficult process that
is fraught with hardships has plagued the minds of numerous eager investors. In reality,
buying Bitcoins is a simple process that involves visiting coin wallets present over the
internet that provide interested buyers and traders with coins.
6. Where to Buy Bitcoin in India from?
Bitcoin can be bought from coin wallets that are present on the internet. There are many
peers to peer marketplaces that exist on the internet through which bitcoins can also be
bought. These wallets deduct a small amount of fee for their services which may be as
low as 0.0005 BTC.
How to Sell Bitcoin in India?
India stands to be a gold mine for Bitcoin investors as there exists a price difference of
almost 7,552 INR and hence can stand to gain huge profits if the right decisions are
made. There multiple platforms through which the sale of Bitcoins can be conducted.
There exist peer to peer trade exchanges that allow Bitcoin holders and potential buyers
to buy or sell Bitcoins upon paying a small service fee to the service provider. There are
also websites that allow sellers to utilize the traditional method of cash transactions for
the buying and selling of Bitcoins. Bitcoin exchanges are also occurring on social media
platforms like WhatsApp and Telegram in order to maintain anonymity.
Where to Sell Bitcoins in India?
Bitcoins can either be sold directly to the buyer using peer to peer trading platforms or
can be exchanged through legitimate cryptocurrency exchanges that are present over
the internet. Although peer to peer transactions are highly discouraged by many large
exchange platforms as they are fraught with risks of volatility.