First we know about what is a bit coin, it means that the type of digital currency occur in online managed by a central and the transaction of bit coin is happened between the individual members. As mentioned, a bit coin is a digital currency these bit coins are maintained as a computer file and put it in a type of digital data. The people can send the bit coins to one another by the form of digital transactions. The bit coin value will increase as the prize value of the dollar increase. This bit coin is more secure because each and every transaction is noted down. It is used instead of money as a paper we can use these bit coins for purchasing any items, but the transaction is only done through the digital wise. The other development of bit coin is that chain link. The chain link is the next form of the bit coin more than that it is higher than the bit coin. The chain link is a network, the main work of it to share the data from the blocked chain link to the current block chain smart contract through the oracle. The smart contract means that the program or function is already assigned to the smart contract in a block chain, and it transforming the data to the real world, and it will be transformed to the people. But, one thing is the data or information we provide on the block chain should be corrected before the execution because of the information provided on the smart contract cannot be changed in between the execution.
Benefits and use of chain link:
The chain link has more benefits, it is an advanced feature of the bit coin, and it is higher than the bit coin. The main function of the chain link is that it transforms the data from the already existed block chain to the current block chain smart contract, in which executes the data and send the data to the people who need the data to access. As this chain link is the most safety and secure place to put the investment on it. The chain link is increasing gradually now because it is transform the data in number and main thing is that link token is increased because of the use of data in high amount. The chain link provides three types of contract in which the chain link done a reputation, aggregating, and also the order matching contract. This three orderly done the work as check the data and track the information, then deliver the request to the contractor to deliver contract information and finally takes information and analyze and executes the final data.
It is more secured to invest in the chain link as the price of the money people invest is grow from lower to higher in a year, it is better to invest in the chain link for a year. The chain link will not get much affected by the bit coin because the chain link grows higher than the bit coin. As it is more secured to invest our money, and we can gain more profit on it, as it also main reason for the growth of the chain link. Look at more info in the chain link website.