It's one of the most widely known altcoins in the crypto market today, and, as many people know, it was one of the best price performers in the previous bull run. But just what is Chainlink, and is there potential for returns this time round?

The brainchild of Russian developer Sergey Nazarov, Chainlink describes itself as an 'industry standard Web3 services platform connecting the people, businesses, and data of today with the Web3 world of tomorrow'. In simple terms, this means Chainlink acts as a connector between real-world data, on-chain protocol, and other abstract blockchains.

The development of the Web3 space is a sight to behold. It is surely the infrastructure of the future. The technology, however, will be of no use if each blockchain exists in a walled garden. The technology underpinning Chainlink allows blockchains to talk to each other and manage data streams from the real world.

There's more about Chainlink and how it works in [our report](/news/article/chainlink-news).

## Real-world use

Chainlink's close association with DeFi is well documented. It has led many to speculate that this was the cause for the token's strong performance through the last bull run.

Core to protocol design is Chainlink's ability to allow users to become node operators and earn revenue by providing critical data infrastructure. These node operators help power a broad range of decentralised price feed oracles, which are critical in securing billions in value for the leading DeFi applications such as Aave, Compound, and Synthetix.

Facilitating DeFi data price feeds is just the beginning. The current Chainlink ecosystem has more than 1 billion data access points, securing in excess of $75 billion in value with over 1,000 integrations across 700 oracle networks. As you can see, Chainlink means serious crypto business.

Reaching far beyond the crypto world, the success of projects such as Chainlink is integral to the widespread adoption of blockchain-based solutions in the real world. Business relationships with mainstream brands such as AccuWeather, FedEx, and Associated Press show just how serious modern business is taking the advent of distributed technology networks.

Ex-Google Chairman Eric Schmidt has joined the project as a Technical Advisor and believes the project is perfectly poised to help speed worldwide crypto adoption stating, "Chainlink is a secret ingredient to unlocking the potential of smart contract platforms and revolutionizing business and society.”

## Chainlink price action

Managing the vast amount of data needed to populate blockchains and smart contracts are becoming an industry within itself. It is easy to see why Chainlink proved so popular through 2020 and 2021. With next to no competition, Chainlink price grew by 2,500% in little more than 18 months, from January 2020 to May 2021.

The native token of the Chainlink network is $LINK, which has a maximum supply of 1,000,000,000. However, the circulating supply is only 491,599,970, with a current price of $7.34, giving it a market cap of $3.7 billion.

Starting the year at $5.57, the Chainlink price grew steadily in the following weeks. This slow and steady increase has caught the eyes of many crypto investors looking for a predictable return on their investment.

Opinions vary, but it is commonly believed that the Chainlink price will be one of the strongest performers in the next bull run. Technical analyses are indicating bullish signs going forward, with predictions of $100 per coin by the end of the decade not uncommon.

It doesn't pay to get ahead of ourselves. So, let's look at some predictions for the rest of 2023. Popular crypto resource site [CryptonewsZ.com](https://www.cryptonewsz.com/forecast/chainlink-price-prediction/) suggests that the Chainlink price will hit $20 by the end of the year. Whatever happens, it is safe to say that $LINK is a good crypto buy if you want to position yourself for the next bull run.

Of course, there are other ways to profit from cryptocurrency besides trading and investing. One of these is staking. [Staking](https://blog.chain.link/how-to-stake-chainlink-link/) allows holders to participate in a Proof of Stake network by loaning their tokens to the network to run a validator node.

For this, stakers are rewarded with a share of the network fees. 

Staking is a low-risk way to earn passive income on your investment. With some networks offering rewards of more than 10%, it is easy to see why it is so popular.

For a deep dive into what staking is and how it works, [read our article](/news/article/what-is-staking-crypto).

## Conclusion

As you can see, $LINK is one of the more popular cryptocurrencies available on the market today, with high levels of anticipation about what Chainlink price can achieve in the next bull run. As can be imagined with any top 50 cryptocurrency, getting hold of the $LINK token is relatively easy. Binance and Coinbase prove to be the most popular source. While the long-term future may look bright for Chainlink, there is still some concern regarding the immediate outlook. Users of the popular crypto analytics website coinmarketcap.com see a price reduction by the end of April 2023.

What the future holds for Chainlink price, we just don't know. 

However, until comprehensive regulation and policy are implemented, the industry will continue to be victim to fraud and scams. So, the same advice must be heeded for this project as much as any other – always do your own research and conduct due diligence before investing in any form of cryptocurrency.


chainlink logo over image of chainlink fence

What does the future hold for the Chainlink price?

Chainlink, a blockchain oracle network, has announced that its much-anticipated staking feature is now live. As said by the company, Chainlink staking plays a significant role in "Chainlink Economics 2.0", which was made in an effort to increase security and promote sustainable growth.

As seen on [Chainlink’s blog](https://blog.chain.link/chainlink-staking-roadmap/), staking will improve the network's security while also helping it serve a higher number of applicants.

Previously, Chainlink users who wished to receive the LINK token could do so by launching their own nodes. With the all-new staking system, users holding Chainlink tokens can earn more while increasing the platform's overall security.

## How does Chainlink staking work? 

Chainlink staking was first launched as a beta v0.1 that included a staking pool that secured the data feed linked to ETH/USD within the Ethereum mainnet. As a reward, users and token holders could earn for supporting and helping enhance the screen's performance by simply being a part of a decentralized altering system. The system works by flagging or reporting the network when the performance requirements are not met by the data feed.

Sergey Nazarov, a co-founder of Chainlink, said that the launch of the staking feature builds the foundation of the [Chainlink](/news/article/chainlink-news) Economics 2.0 program and will improve over time. He stated that as the network continues to expand, the staking feature will continue to evolve and deliver enhanced security across our ecosystem and throughout Web3.

The team at Chainlink is confident. It says that as the platform works on releasing new oracle features and services, the network security will match the ever-increasing value within applications that are run by Chainlink.

On 29 November, 2022, the LINK token started to gain popularity ahead of the staking feature launch. It is predicted this will boost the demand for the LINK tokens along with oracle services available on the platform.


Green image of chains with the crypto chainlink logo in front in white

Chainlink Staking to Boost Oracle Security

Ready for some [Chainlink](https://chain.link/) news? Let's start by explaining what it is.

[Chainlink](/coins/link), then, is a decentralised oracle network intended to function as middleware between smart contracts on innovative contracting platforms and external databases, authorizing smart contracts to safely access off-chain data feeds.

## Chainlink History

Developed in September 2017, the Chainlink protocol was officially launched on mainnet in May 2019. The crypto coin strives to solve the oracle problem, an inherent restriction of blockchain networks that controls them from linking to external databases that exist off-chain. 

Chainlink delivers a comprehensive range of decentralised services via a network of autonomous oracle node operators to smart contracts, including:

•	Price Feeds - financial market data used to control a large portion of the DeFi economy, 
•	Verifiable Randomness - allowing the creation of dynamic NFTs and unbiased on-chain gaming applications,
•	Proof of Reserve- supplying proof of off-chain collateral that supports stable coins and cross-chain tokens,
•	Keeper Network- transaction automation bots that deliver independent DevOps services.

The newly published Chainlink 2.0 whitepaper also widens the abilities of Decentralised Oracle Networks (DONs). It explains how the Chainlink network matures to deliver tamper-proof data and secure off-chain computation. Chainlink oracle networks allow the creation of highly scalable and privacy-preserving hybrid smart contracts that connect on-chain and off-chain infrastructure.

The latest scalability upgrade of the Chainlink network, Off-Chain reporting, reduced oracle updates' gas prices by 90%, representing the first move towards attaining the plans mentioned in the whitepaper.

## Chainlink Technology
 
The decentralised oracle network Chainlink allows smart contracts to safely interact with real-world data and services beyond the blockchain networks. Like blockchain, Chainlink is not a monolithic network; rather, it is an infrastructure and framework for creating blockchain-agnostic oracle networks that extend the capacities of blockchains and layer-2 protocols.

Chainlink oracle network comprises multiple autonomous oracle nodes that assemble data from various autonomous data deliverers, aggregate it into a single data point, and supply it on-chain to be consumed by smart contracts. Chainlink's adaptable architecture allows for highly configurable oracle networks that can be composed of any preference of data providers and node operators that use distinct network parameters such as update frequency, fee payment amounts, and more.

Chainlink nodes are used by experienced DevOps infrastructure providers, top-notch companies, and professional data providers who deliver smart contracts with access to cryptographically signed data for further security assurances. Because of its adaptable infrastructure, Chainlink can deliver any data or computation to any smart contract application functioning on any blockchain network.

## Chainlink News

Chainlink (LINK) is currently selling at $15.38 in its USD rate. LINK has a complete market cap of $7,181,227,454 with the 24-hour bartering volume of $423,830,966.00. This data makes Chainlink (LINK) rank 23 in the crypto coin market.

In 2022 forecasts, the LINK price is predicted to cross an average price level of $20.58. Chainlink's anticipated minimum price value by the end of the present year should be $19.99. Moreover, LINK can attain the highest price level of $22.56.
 



Chainlink News, History, and Technology

Throughout 2021, cryptocurrency heavyweights like [Bitcoin](/news/category/bitcoin-news) and [Ethereum](/news/category/ethereum-news-today) experienced sharp declines in value, however, the market showed remarkable resiliency and ended the year in bull market territory.  As we begin another new year, cryptocurrencies are _again_ experiencing sharp declines (hardly anything new for the month of January) and, while the most heavily capitalised cryptocurrencies, like Bitcoin, decline in value, other digital assets, referred to as “altcoins,” are gaining an increasing amount of attention from new investors. 

## What Are Altcoins?

Altcoins, an abbreviated way of saying “alternative coins,” are nothing other than digital assets **not** called Bitcoin.  As of November 2021, there were over 14,000 altcoins trading across a wide array of crypto-exchanges operating on the market.  The rate at which Millennials and members of the Gen Z demographic are piling into altcoins, more than any other generation, is sure to make 2022 an especially big year for these digital assets.  These two groups account form a portion of society that has never known a world _without_ the internet and their accelerated level of digital adoption and keen interest in digital assets is expected to drive the popularity and adoption of altcoins to new records. 

## Market Cheerleaders

The lot of these two groups account for the majority of the market’s “cheerleaders” or the digital asset crusaders loudly promoting their belief that cryptocurrencies are the vanguard of a financial revolution.  And why not?  It’s easy to understand how cryptocurrencies fit the lifestyle of these two groups.  If we examine them a bit more closely, we see how technically adept they tend to become at a very young age, and this is what drives their preferences for financial transactions that are achieved through digital means over other more traditional methods. 

Vendors haven’t failed to notice.  Organizations, large and small, are recognizing the widespread adoption of cryptocurrencies among the younger generations as an opportunity to grow their own businesses.  The list of organisations announcing their acceptance of cryptocurrency as a form of payment is steadily growing.  The rapid adoption of altcoins by younger investors also sheds a bit more light on why mega-retailers, like Amazon, are investing so heavily in cryptocurrency and blockchain technologies.

## Expect a Steady Rise in Altcoin Popularity

In the new year to come, it’s safe to anticipate that altcoins already experiencing a steady rise in popularity will pick up _even more steam_.  Perhaps most notable of all, investors should develop a keen interest in the “metaverse” and the role it is playing not just in the lives of the younger generation, but in all our lives.  These virtual reality worlds are developing economies all their own and many, like Decentraland and The Sandbox, have their own cryptocurrencies that players use to exchange online goods and even purchase virtual real estate.

Here are a few of the more popular altcoins to watch in 2022:

[**Solana (SOL)**](https://coinmarketcap.com/currencies/solana/): Up more than 13,000% in 2021.  Logically, most think their opportunity to buy in has long since passed, but Solana has a reputation as a low-cost platform that can be very competitive with Bitcoin meaning there is room yet to grow. 

[**Decentraland (MANA)**](https://decentraland.org/): We mentioned the metaverse earlier, and MANA is what they mean when they say “buying the metaverse." In the [Decentraland](https://decentraland.org/) metaverse, one can purchase virtual real estate, buy shop fronts, and so much more.  MANA is the currency of this virtual world.

[**Chainlink (LINK)**](https://chain.link/): As the use of smart contracts continues to increase, so too will the value of Chainlink. 

Altcoins give us many reasons to be excited about the future as these smaller coins offer more upside potential, but this market hasn’t yet matured – altcoin prices can be significantly affected by rampant volatility and it’s important for investors to keep this in mind.

Altcoins Drawing Interest from Millennials

Since becoming the darling of investment communities worldwide, Bitcoin has spawned an entirely new class of digital assets called “altcoins.”  Seeking to replicate the success of the world’s first digital currency, the rapidly expanding cryptocurrency market continues yielding swaths of newer coins that are all designed with the intention of upending Bitcoin as the heavyweight king of crypto.

With well over 9,000 new altcoins to choose from, here’s what you need to know:

## What are altcoins?
------------------

Altcoin is short for "alternative coin.”  Quite simply, these digital assets are alternative cryptocurrencies to Bitcoin.

Bitcoin will forever be universally hailed as a “first of its kind” asset and newer cryptocurrencies developed after the fact are viewed as alternative coins, or altcoins. The first altcoins started showing up back in 2011 and they were designed to be more advanced than Bitcoin in terms of technology.  For example, quicker transaction speeds than what Bitcoin could offer. 

To get an idea of how altcoins work, all you need to do is look at blockchain technology – the environment where all cryptocurrencies “live.”  A blockchain is an _electronic ledger_ that records cryptocurrency transactions and this ledger is maintained across computers that are linked across a distributed network.  What investors finds so intriguing about cryptocurrency is that they operate on a decentralized, trustless, P2P payment network that functions without a central authority or overseer to facilitate transactions. 

It is truly _decentralised_. 

Many of the altcoins that you can invest in are, in fact, technologically superior to Bitcoin.  They’re just not as popular…yet. 

Here are three altcoins with an especially promising future:

### [Chainlink (LINK)](/coins/link)
---------------------------------------------------------------------

Chainlink's price has more than doubled in 2021, and they’ve recently announced a partnership to provide data for what are called “smart contracts” - programs used to automate the execution of an agreement so that all parties are held accountable for a desired outcome.  Chainlink is building a great reputation for being able to translate real-world data into something that these smart contracts can immediately interpret and act upon.  In a nutshell, Chainlink is offering capabilities that are very desirable in the cryptoverse, making Chainlink one of the top altcoins to watch.

### [Polkadot (DOT)](https://polkadot.network/)
-------------------------------------------------------------

Much of the ballyhoo surrounding this altcoin is that it’s promoted as “one of the most highly anticipated next generation blockchains.”  Polkadot lets developers _build their own_ blockchains and then connect them with each other, overcoming major scalability issues.  Much of the cryptocurrency brain trust has gone so far as to say that Polkadot is the future of decentralized applications.  Time will tell, but this altcoin is certainly off to an incredibly searing start.  

### [Stellar (XLM)](https://www.stellar.org/)
----------------------------------------------------------------

Stellar was created by one of the co-founders of another popular altcoin called “Ripple” and was designed with a focus on the people that are living in developing countries.  These are places where traditional banking services may not always be immediately available and Stellar is designed to be the “peoples” resource.  This altcoin offers the best in terms of real-world application.  For those who’ve worked in a business operating internationally, Stellar could be a _very_ big deal.

## Altcoin Price Volatility
------------------------

As altcoins got their start, the cryptocurrency market would move in unison with the performance of Bitcoin.  As Bitcoin went up, so did the market.  It was the same if Bitcoin trended downward.  Maybe not perfectly aligned, but about 70% and more was what we could expect.  Now, as altcoins demonstrate their usefulness, and independence from Bitcoin, there has been a break in the correlation. 

I think this is the sign of a healthy cryptocurrency market that is gaining strength, and another sign that now is the time to start looking seriously at cryptocurrencies, or altcoins, _not_ named Bitcoin.

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