Understanding How Chainlink Works [Explained]

Republished By Plato

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Welcome to this new episode! Today's episode is all about Chainlink. But before we get into that, let’s not skip over the fact that New To Crypto is now being downloaded in over 700 cities, 83 countries in just over two months since I started the podcast, the crypto industry is growing and so is the show. Learn about Chainlink, how it works, what problems it solves, projects, architecture and more.

This is an episode you can’t miss!

[00:01 – 03:58] Opening Segment

Let’s unpack what exactly Chainlink is.
In order to understand Chainlink, learn about Smart Contracts
- Check my episode on Smart Contracts
Chainlink as a bridge or oracle between Blockchain, Smart Contracts and external data sources.
Chainlink: Co founded by Sergey Nazarov and Steve Ellis.
How the Chainlink team raised millions of dollars through an ICO (Initial Coin Offering)

[03:59 – 05:34] Chainlink’s Ecosystem

Visit our website to see all of Chainlink’s participation in its ecosystem.
I describe some Chainlink projects, collaborations, integrations and partnerships.
- NFT
- Gaming
- DeFi projects: 0 Exchange –
- Check my episode on 0 Exchange Crushing It Among DEX
Visit our website if you’d like to deploy your own Chainlink Smart Contract.

[05:35 – 31:22] Chainlink’s Architecture and Market

I break down Chainlink’s architecture
- Aggregated Contract
- Order Matching Contract
- Reputation Contract
Chainlink and Node Operators
How Chainlink is secure
I describe Chainlink’s market value

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