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Good day is pleasure, welcome to my homework, am @kingworldline.
Choose a Project, platform or service belonging to the Polkadot Ecosystem (Polkadot not permitted) and make a detailed post, which must comply with the following aspects:
1-Explain in your own words why you choose it and why do you think it is relevant to the world?
Before I explain Chainlink project which belong to the polkadot ecosystem, i will explain what Chainlink is all about.
Therefore chainlink is an oracle and as well recognised decentralised network which tends to work with the smart contract in place to maintain the security of the real- world blockchain, chainlink has a working connection potential to interact with blockchain industries in order of maintaining there trust in their endeavor in transacting business.
Hence this can figure out vital information about a blockchain without compromising like the price feeds, result based on an event and as well the link which connects to a traditional payment and so on with the standard of the system.
Hence the reasons why I choose chainlink over others is basically on the following factors and potential it has as a project.
I made this my first choice due to the fact that is modified to have on-chain and offchain modules, hence these two has connection which it can be upgraded which made it so flexible to adapt to the latest upgrade as regards to the technology development.
Another reason is that is made to connect the blockchain with that of the APl.
Based on the decentralised finance, chainlink DeFi application are used to price in other determine the rate of an asset and to ensure secured loan.
The chain link is necessary and useful production while preparation weather data
Hence the world based on game technology is getting advance based on development of the smart contract on games which has incorporation with that of the non fungible token (NFT) which tends to be where the blockchain technology is advancing to in terms of gaming, which tend to yield dividends.
Choose a Project, platform or service belonging to the Polkadot Ecosystem (Polkadot not permitted) and make a detailed post, which must comply with the following aspects:
2- Description of the project and its platform. (Screenshots needed)
The chainlink is based on decentralised oracle network which is configured to operate on smart contract in order to have a well secured offchain data, transaction payment and as well the web APIs.
Hence this a blockchain which is current having dominion over others is based on it's security and as well there are trust worthy based on their oracle to many firms like Swift, Google and others.
Therefore the chainlink is ahead and as well one of the leader over others operating on smart contract development .
Based on the description of the platform, the platform can be reached through this official web address
https://chain.link/
Based on the content of the platform based on chainlink, it has the following quality as regard to the security and flexibilty infrastructure as shown on the screenshot below.
Chain global communities
This a vast social handle platform which was establish by different developer, where by the users of this media can be able to interact with chainlink in order of building the blockhain in order to satisfy the need and wants of every one belonging to the ecosystem.
Therefore tthis is shown on the below screenshots
Choose a Project, platform or service belonging to the Polkadot Ecosystem (Polkadot not permitted) and make a detailed post, which must comply with the following aspects:
3- Functionalities and real-life applications. (Screenshots needed)
Base on their Functionalities on real life application as requested in a screenshort is shown below.
4- Future development and associated projects. (Screenshots needed)
As of the future development which is based on the projects, the screenshot is shown below.
5- Make a technical analysis of the token of the selected platform, then through your validated exchange account make the purchase of the token (15 USD as a minimum). Screenshots and an explanation of the procedure are required.
5- Make a technical analysis of the token of the selected platform, then through your validated exchange account make the purchase of the token (15 USD as a minimum). Screenshots and an explanation of the procedure are required.
Based on the technical analysis as the question demands, I will be using LINK token to this on the Tradingview platform.
Base on the indication on the chart I pair up LINK/USDT om 4 hours coverage.
Therefore based on my chart shows some point at which it breaks the resistant and support level levels, which shows different signal whether to buy or sell hence the at the last point shows bearish displacement.
On the second phase of the questions demand a screenshot and explanation of an investment of 15 USD on LINK from chainlink with a verified exchange account. Therefore first of all, below is a screenshot of my varified KUCOIN account.
FROM KUCOIN
Secondly I proceed to trade it with my 17 USDT I HAS, by filling up the price, the amount of USDT I want to use in purchasing it and others before clicking on buy and the order was fulfilled immediately as shown on the screenshot below.
FROM KUCOIN
FROM KUCOIN
Lastly I was able to buy the LINK token as shown on the below screenshot.
FROM KUCOIN
In conclusion chainlink as a decentralised project what to be invested on, hence it is the first project that tends to close the space between the smart contract with that of the real world.
Therefore chainlink has a token known as LINK which is used to represent the network in cryptocurreny world.
Hence it has many potential and value towards the real world in term of functionality and the chainlink as a blockchain has solve and still have future agenda to achieve.
Thanks to my professor
@allbert