ChainLink pulls in £32m in its token sale


Smart contract platform ChainLink(Link) has pulled in $32m from its token sale, selling 350 million of its LINK coins.

ChainLink uses blockchain to allow smart contracts from various networks to connect critical resources. It’s oracles, which support both Bitcoin and Ethereum, collect off-chain data, APIs and payments to become a decentralised network.

A user is able to connect to any existing API, send payments to bank accounts and join with other blockchains. Through smart contracts clients are able to mimic real world agreements that require external proof of performance and the need for payment methods to be widely available.

The company currently works with HSBC, Chase, Citi, Wells Fargo, Swift, Paypal, Visa, Mastercard, Salesforce, SAP, NYSE and Bloomberg, among others.

Around 35 per cent of the tokens will be given to the node operators, 35 per cent will be distributed through the token sales, and the remaining 30 per cent will be given to the company for development.

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