/biz/ - Business & Finance

See you later, nerds. You should have accumulated. Already up 65% the past hour.

>>26056910
It's a token. That is the key word TOKEN. With all these projects, chainlink, uniswap, loopring etc, think of these projects having two parts. The product and the token, similar to how when you go to the theme park you have the rides and the plastic coins or paper tickets that allow you to go on the rides.

This is the same thing with the chainlink token. In order to interact with the chainlink product (it doesn't matter for now what it does or why), you need the appropriate token to interact with that. Uniswap is a little different, you have the product of uniswap and then you have the token, which currently is given as a reward for doing things within the uniswap product and as a "vote" in the governance of the uniswap product. These currently are the two main uses for tokens.

Seperate to tokens you have cryptocurrencies like Bitcoin, Litecoin, Stellar, Ripple etc where there isn't really a product, the coin is the product, often being designed specifically for the task of representing and transacting value.

With all this in mind. The purpose of the LINK token (the thing you can buy on exchanges) is to facilitate interactions with the Chainlink product, which is in simple terms, a decentralized network of oracle nodes that deliver API data to smart contracts.

It doesn't matter if you don't understand what that means. Just know that it's a thing people want to do, and will likely continue wanting to do in the future. And in order for them to be able to do it they will need LINK tokens. And possibly they would be interested in buying them from you. For money.

IT'S PAYDAY TOMORROW
YOU KNOW WHAT THAT MEANS YOU STUPID NO LINK FUCKS

>>22579999
Chad post, now quads

$36 EOM