While its price is below U$5, Chainlink (LINK) enjoys a strong market capitalization of around U$1.5 billion and is one of the top 15 digital assets listed at Coinmarketcap in early June 2020. Chainlink was launched in San Francisco by a fintech company named SmartContract in 2017.
Chainlink is a decentralized tokenized network that provides blockchain networks with data feeds obtained from both on and off blockchains sources. Chainlink's protocol provides a possible solution to what is known as the "oracle problem," or the ability in many smart contracts to get off-chain data. Because blockchains are intended to function as "trustless" networks, the use of external data requires integration with a trusted source, an "oracle." Chainlink does this by building ultra-safe and accurate data channels on decentralized, independent oracle provider networks. The Chainlink network has been built in a manner that requires it to be upgradable, meaning that the different parts can be substituted as new strategies and technology emerge.
As part of expanding its network, Chainlink continues to collaborate with various organizations, from big corporations to decentralized startups. The company believes the creation of an ecosystem would increase the development of smart contracts and build conditions like when the internet revolution started.
At the end of May 2020, by either using, evaluating or proving its oracle services, at least 30 companies leading ventures focused on law, supply chain, research, Ai, marketplaces, remittances, data management and financial applications partnered with Chainlink.
In addition to partnerships, Chainlink is also being endorsed by several companies due to its exclusive offerings. One such company is Primereum, a 100% crypto-based online marketplace that promotes the adoption of mainstream cryptocurrencies. Chainlink (Link) has been chosen by Primereum to be among the list of cryptocurrencies to be accepted on its platform.
Who Is Primereum?
Primereum is a decentralized ecosystem that offers a wide range of products, including payment systems, point-of-sale systems and an online marketplace. Primereum also uses blockchain technology, making it a strong competitor by providing gateways and innovative and alternative forms of payment as opposed to traditional financial systems. The Primereum ecosystem is also driven by the Primereum Fuel (PMF), its flagship and stable utility token anchored to 1 gram of gold.
How Can the Chainlink (LINK) Community Benefit from Using Primereum?
Over 30 other cryptocurrencies such as Chainlink (LINK) will be accepted on Primereum's online marketplace, in addition to its flagship token. Using a peer-to-peer business model, Primereum will also provide an open and shared economy and a free flow of value transfer by linking buyers, sellers, affiliates, bounty hunters, business owners, partners, advertisers, using cryptocurrencies such as Chainlink (LINK)
Any holder of the Chainlink (LINK) token can be part of the Primereum community by becoming a merchant by selling goods within the Marketplace to other users. Chainlink token customers can also use their coins to purchase the PMF tokens through the Fuel store, which can be used for all our platform services such as, the Marketplace, Wishlist And Remittance system. With the PMF tokens, customers can purchase products on the marketplace and exchange with other members. Additionally, the Wishlist system allows a customer to list a product they want to be purchased on their behalf, in exchange for the PMF token. When a product buyer chooses to purchase the item from the Wishlist, the balance of the PMF tokens offered by the customer interested in buying the product will be kept in the Escrow system. The marketplace will also include competitive affiliate and bounty programs that will provide attractive incentives for the engagement and promotion of the Primereum ecosystem.
PRIMEREUM is a simple and versatile way to use your Chainlink (LINK) tokens and to shop online. If you’re part of the Chainlink (LINK) community, you don’t want to miss this chance.
Follow us for more information:
Primereum EcoSystem & Marketplace: https://primereum.io
Medium: @Primereum Official
Cryptocurrency & Blockchain
A cryptocurrency is a digital asset designed to work as a medium of exchange that uses strong cryptography to secure financial transactions, control the creation of additional units, and verify the transfer of assets.