Crypto-Academy Week 3 Homework by @gbenga: Written by @okoyeamaka11

Hello everyone welcome to another post in the crypto academy given by the steemit professor called @gbenga who wrote about the ethereum block chain, in this post I am going to be writing about a project that has been launched in the ethereum blockchain.

In this post we are going to be talking about a project called Chainlink which is among the first projects launched on the Ethereum blockchain.

Chainlink

It is known as an oracle network which means it is used to connect smart contract with the outside world such as weather information or stock price.

A smart contract uses that data to execute pre-defined instructions. For example, payout an insurance claim in the event of a hurricane.

While Chainlink has been around since 2017, the project didn’t really come to the forefront of the space until 2019 – after it partnered with Google. Chainlink is fuelled by an ERC-20 crypto token, LINK, and runs on top of the Ethereum network.

Chainlink fees

Source

In crypto exchanges they are Fees included in exchanges, the less fees the better because in ethereum now there is a lot of problems because of the fees but chainlink fee is actually high that is why new projects are now launching in Cardano blockchain instead.

Conclusion

Thanks for reading and and I hope I explained chainlink very well because it is a project in ethereum blockchain i hope i explaned it very well Please @gbenga and @gbenga, here is my task entry and thanks for reading.

Cc: @steemcurator01
Cc : @steemcurator02
Cc : @steemitblog
Cc : @gbenga