Chainlink to Bring Decentralized Data to Associated Press

Chainlink has been one of the greatest success stories in cryptocurrency. In 2017, Chainlink made the spotlight when a large following popularized the token before the initial coin offering (ICO). The ICO was a sell-out but the token price failed to live up to the expectations.

From there, Chainlink saw years of negative press releases. Some said the team was too small and the project was too ambitious. Rumors spread around the notions of Chainlink having no real application, stating it was just a knock-off tool.

The price of Chainlink’s token, LINK, struggled to rise as many saw it as old news. Even the 2018 market – which saw many smaller tokens rise significantly – could not get Chainlink back to the highs it saw in the beginning.

In 2019 when most coins and tokens were going through a negative market phase, Chainlink started releasing its product. The product was a decentralized oracle and there was nothing else like it.

This product allowed smart contracts to receive the data necessary for real-world applications, a tool desperately needed in decentralized blockchain technology.

From there Chainlink rocketed into the spotlight. Signing over 100 partners in a short period of time, swept the market. LINK has grown from a price of $0.40 per token at the beginning of 2019 to a high of $52.70 this summer.

Now, there are many competitors for Chainlink, the advantage it gained from being the first in the market has made it the undisputed leader. 

The latest news for Chainlink is another point of legitimacy. Associated Press announced they will trust Chainlink to deliver economic, sports, and race-call datasets.

This is a big step for Chainlink as it begins to provide real-world data to more applications, even outside of the cryptocurrency and smart contract space. Chainlink has come a long way and will only continue to deliver more data options to applications.

Decentralized blockchain technology offers unstoppable data providers which are crucial in an age where many are worried about facts being changed or manipulated.

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Written by Isabella Aslam

Reporter

Isabella is an experienced writer in B2B and B2C journalism. Alongside crypto, Isabella writes and discusses the topics of relationships and psychology. Isabella holds a first-class degree in music journalism and often interviews electronic artists and DJs.

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