12 Best Cryptocurrencies to Invest in According to Reddit

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6) Chainlink (LINK)

Market capitalization as of August 29: $6.7 billion

Chainlink (LINK) refers to an Ethereum token, that powers the Chainlink decentralized oracle network. This network enables smart contracts on Ethereum to connect to external data sources, APIs, and payment systems securely and efficiently. Its network is supported by a diverse community of data providers, node operators, along with smart contract developers. Its approach targets to integration of off-chain data in smart contracts, which helps in positioning it in the data processing field.

Chainlink operates through a network of decentralized oracle nodes. Such nodes garner data from external sources and then relay it to smart contracts. Through this process, smart contracts can interact with data that is outside of their native blockchain.

Its recent collaboration with SWIFT to transfer tokenized assets through multiple blockchains demonstrates its potential to address the gap between traditional finance and blockchain technology.

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