How to Write the Steemit Crypto Academy Week 4 Task || Chainlink (Connecting Your Smart Contract to the Outside World)


Introduction

You can write a brief introduction about the project, its founders, creators, and/or compompany. Everything that needs to be known at the introductory level should be explained here.

If we start, then we should start with the blockchain and the Blockchain is an immutable, decentralized ledger stored in blocks. it should be clear that the blockchain is similar to the internet, in fact, it is referred to as the modern internet. While we have data on the chain, we still have more data off off-chain simost of our data isa is off-chain. A looking at the blockchain, the next thing to look at is is a Smart Contr

.

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A smcontract is a set of code on the blockchain which serves as an agreement between two parties whereby a default in one affects the entire contract but if both parties follow the agreement, it is ang it.

Oracle icuted without both parties influencing it.

Oracle is a middleware that is used to process data, database workloads, and other online processing. With Oracle, Chainlink can transfer/process data from the off-chain internet to the blockchain smart contract. Launched in June 2017, Chainlink was founded by SmartContract and it is a decentralized network that uses Oracle to process data from the off-chain internet to the smart contract on the blockchain. With.

How Chaiis tnk Works


About the project and its use case on the blockchain. The complete breakdown of how the project works and how it can be used in the physical scenario. You can also include gornance in this part, consensus if available and so on.

CChainlin trust issues.

How Chainlink Works

Chainlink helps to get off-chain information on-chain which is its use case. To do this, a smart contract puts a request for data required by the blockchain, in other to get the data from off-chain internet, Chainlink registers the request as an event on the blockchain (Chainlink service Level Agreement Contract [SLA]). This contract generates three sub-contracts; the Chainlink Reputation Contract, A Chainlink Order-Matct.

[source](https://imagtation Contract

This contract ch
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  • Chainlink Reputation Contract
    This contract checks the authenticity of an Oracle providearded.

Chainliand verifies itng Contract

This contracracle provider is below standard, it will be discarded.

  • Chainlink Order-Matching Contract
    This contract is used to send the request to C.

Chanodes as well as takontract

This is quest as well as pick the right nodes to perform the request.

  • Chainlink Aggregating Contract
    This is used to validate data from the Oracles so as to provide accurate results. ge

Link Token

About the nae token,
T the tokennomics of the token, including the total supply, ICO, price, and so on.

Link tlink uses Chainlink Core to make the data collected understandable in real language

Link Token

Link token is Chainlink's token used to transact on the protocol. A good use case is for Requesting Contract holders who use Link to pay Node operators on the platform. The Link must also be staked by node operators thereby showing their commitment to the chain. The task.

Built onavailable is what is used as criteria to determine which node will be requested to perform a task.

Built on the Ethereum blockchain, Link is an ERC-20 token. Chainlink held an ICO in September of 2017and realized $32 Million by selling about 35% of its total supply of885,534.

Conclusion
Everything that needs to be known about the project should be included in your post as I will be going through every project and we will be interacting on these projects.

Note This is an example and you should not write your post in this format or this way.on tokens. Link is sold at $30.90 at the time of writing and has a market capitalization of $12,656,885,534.


Comments 9


Thanks for this info!

Btw Professor, I think you missed my week 3 article here.

04.03.2021 13:04
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Sir i am going to write about this and thanks for guiding your students like me . As it is really very helpful for the students specially for me.

04.03.2021 16:15
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Interesting post @gbenga, you added a touch to it which made the point clear nice one.
I know the work load is heavy please check my homeworkhttps://goldvoice.club/steem/@cryptocheta/crypto-academy-week-4-homework-post-for-professor-gbenga-on-all-about-the-ethereum-blockchain-answered-by-cryptocheta

05.03.2021 08:55
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Good day Professor @gbenga. Pls I already corrected my content 3 days ago by using a different project which is Chainlink. Pls here's my link
https://goldvoice.club/steem/@kadosh2340/steemit-crypto-academy-week-4-task-or-ethereum-blockchain-uniswap-dapp-or-lesson-by-gbenga

Thank you Sir

05.03.2021 21:58
0

@gbenga
This is my 3rd homework task. I posted it 6 days ago. You haven't visit it yet. Please check my post. Thank You.

06.03.2021 04:37
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Example noted

06.03.2021 06:36
0

Thanks

06.03.2021 12:55
0