Categories: Ethereum

Coinbase Pro Announces Support for Chainlink Token

Click here to view original web page at cointelegraph.com

Major cryptocurrency exchange Coinbase Pro has added support for Chainlink, according to a blog post on June 26.

Coinbase has listed two trading pairs for the token of smart contract platform Chainlink (LINK) on its professional trading platform.

LINK will be available to trade with the U.S. dollar (LINK/USD) and with ether (ETH) (LINK/ETH). The post says that the token will be available in all its covered jurisdictions except for the state of New York.

According to the announcement, Coinbase Pro will roll out options for LINK in four steps. The four steps are (1) transfer-only, (2) post-only, (3) limit-only, and (4) full trading. For the first three options, respectively, users can put LINK in their Coinbase Pro accounts, post limit orders, and wait to receive order matches.

The announcement also states that phase updates will be announced via Twitter. At press time, Coinbase Pro has only announced the beginning of the transfer-only phase.

As per the press release, LINK is an ERC-20 token native to the Chainlink decentralized oracle network. According to Chainlink’s whitepaper, LINK is the token used for payments in Ethereum smart contracts backed on Chainlink:

“In order for a smart contract on networks like Ethereum to use a ChainLink node, they will need to pay their chosen ChainLink Node Operator using LINK tokens, with prices being set by the node operator based on demand for the off-chain resource their ChainLink provides, and the supply of other similar resources.”

The Chainlink network reportedly supports Ethereum smart contracts that rely on inputs from external data sources, APIs, and payment systems. As per the Chainlink website:

“By allowing multiple Chainlinks to evaluate the same data before it becomes a trigger, we eliminate any one point of failure, and maintain the overall value of a smart contract that is highly secure, reliable, and trustworthy.”

As previously reported by Cointelegraph, Coinbase Pro increased its fees and announced a different market structure for the platform in March.

Coinbase has listed two trading pairs for the token of smart contract […]

cinerama

Illuminati, Mason, Anonymous I'll never tell. I can tell you this, global power is shifting and those who have the new intelligence are working to acquire this new force. You matter naught except to yourself, therefore prepare for the least expected and make your place in the new world order.

Disqus Comments Loading...
Share
Published by
cinerama

Recent Posts

Argo: New Agreement Signed to Expand Power Capacity by 357%

LONDON--(BUSINESS WIRE)-- Argo will also have an option to boost mining capacity by up to 1360 petahash (PH), or 1.36… Read More

55 mins ago

Legendary Investor Bashes ‘Psycho-Currency’ Bitcoin, Then Accidentally Makes Crypto Case

Mark Mobius, founding partner of Mobius Capital Partners claims bitcoin's emergence will further drive investors to gold. | Source: REUTERS/Francis… Read More

55 mins ago

Hitting This Key Area Could Trigger a Quick Bitcoin Price Boom

Bitcoin price is having a volatile week. | Source: Shutterstock By CCN Markets : Since August 15, in less than… Read More

55 mins ago

Online Blockchain Launches Cryptocurrency Subscription Service for New Coins and Tokens

- Innovative 'HODLbox' enables subscribers to exploit nascent cryptos - LONDON, Aug. 20, 2019 /PRNewswire/ -- Online Blockchain plc (… Read More

55 mins ago

Maharashtra to use blockchain technology to monitor services

Maharashtra , the second largest state in India, announced that they will be using blockchain technology in a wide variety… Read More

55 mins ago

People Who Want to Control Their Capital Buy Bitcoin, Says Circle CEO

Jeremy Allaire, CEO at cryptocurrency financial services company Circle, expressed his optimism in regards to Bitcoin ( BTC ) being… Read More

56 mins ago

This website uses cookies. We use these cookies to collect data about your interaction with our website for the purpose of continuously improving your experience with our site. For more information we encourage you to read our privacy policy.

Read More