CrushCrypto ICO Review ChainLink (LINK) · exchange network similar to ShapeShift, and CryptaMail,...

ICO Update:

ChainLink (LINK)

Decentralized Oracle Connecting

Blockchain With Outside Data

September 14, 2017

• A smart contract is a computable contract

that has been made tamper-proof by

being run on a decentralized computing

network.

• The program runs the code and

determines whether an asset or currency

should go to one person or back to

another person based on some event.

• The individuals involved are anonymous

but the public ledger stores and replicates

the document, giving it security and

immutability.

PROJECT OVERVIEW

What is a smart contract?

2For additional resources, please visit www.CrushCrypto.com.Copyright © Crush Crypto. All Rights Reserved.

TRADITIONAL VS. SMART CONTRACTS

Traditional Contracts Smart Contracts

Paper / physical

document

Software protocol

Requires trust in a third

party (brokers, lawyers)

Trustless and no

intermediaries

Days to weeks Minutes

Higher administration

and service costs

Cheaper and less prone

to human error

Manual payment of funds Automatic remittance

Escrow required Escrow is not

necessarily required

Physical signature Digital signature

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PROJECT OVERVIEW

What is ChainLink?


• ChainLink is the necessary

middleware (known as oracles)

that connects smart contracts

with off-chain resources such as

data feeds, APIs, etc.

• Oracles make it possible to

create programmable contracts

that do payouts between two

parties once certain criteria have

been met, without involving a

middleman.

Oracle Oracle

CHAINLINK CONNECTS SMART CONTRACTS TO

EXTERNAL SYSTEMS AND APIS USING SECURE ORACLES

Bitcoin, Ethereum,Hyperledger


PROJECT OVERVIEW

Who can sell their core services to a smart contract?


Bank Payments

Retail Payments

Other Blockchains

Backend System

Market Data

All Web APIs

Events Data

Oracles


PROJECT OVERVIEW

Partnership with SWIFT


Bank BankOracle Oracle

Oracle

Oracle


PROJECT OVERVIEW

Partnership with Cornell


• This Town Crier Oracle provides an

authenticated data feed of the daily Ether

to USD price. The data feed provided to an

Ethereum smart contract through this

oracle has been made tamper-resistant,

through the use of an Intel SGX secure

enclave environment.

• Town Crier was developed by Cornell's

Initiative for Cryptocurrencies and

Contracts, to utilize Intel's SGX technology

as the secure environment from which

smart contracts receive their authenticated

data feeds.


PROJECT OVERVIEW

LINK token sale summary

• Project name: ChainLink

• Token ticker: LINK

• Website: https://smartcontract.com/link

• Hard cap: US$32 million (ICO contributors own 35%

of total token supply if hard cap is reached)

• Soft cap: None

• Total supply: 1 billion LINK

• Max market cap at ICO: US$91 million

• Bonus structure: 20% bonus during presale

• Pre-sale or whitelist available: Pre-sale is over

• ERC20 token: Yes

• Timeline: September 19, 2017 for one month

• Token distribution date: Immediately after the end

of crowdsale

ICO SUMMARY


TOKEN ALLOCATION

35%

35%

30%

Public token sale

Node operators to incentivize the

ecosystem

Company (for continued

development)

BONUS STRUCTURE

https://smartcontract.com/link


PROJECT OVERVIEW

Use of LINK tokens


• LINK tokens will be used within the ChainLink Network.

• Smart contract users compensate the data providers they use with LINK tokens.

• Developers can pay each ChainLink Node Operator for the unique data, APIs, and off-chain

payment capabilities they provide.

• This ensures accurate and verifiable data and increases decentralization.

• Incentivizes the various parties (external data sources, APIs, internal systems, and existing

banking infrastructure) which are needed for ChainLink to be functional for real world use

cases.

• As LINK tokens are used as a currency on the ChainLink platform, the more the platform

is used, the more valuable LINK tokens should be.


THE TEAM

Who are the people behind ChainLink?


Sergey NazarovCEO

Serial entrepreneur, veteran in the blockchain

space. Prior to SmartContract, he was the

founder of Secure Asset Exchange, an

exchange network similar to ShapeShift, and

CryptaMail, a decentralized email service.

INDUSTRY RECOGNITION

Steve EllisCTO

Serial entrepreneur, having worked

together with Sergey Nazarov on Secure

Asset Exchange. Previously worked as a

software engineer at Pivotal Labs.

Selected as 2017 Blockchain Applications

Cool Vendor by Gartner.

Selected in their Tipping Point report as the "Shift

in Action" for Smart Contracts, for their work on

allowing smart contracts in the Bitcoin network to

be automatically triggered by external data.


THE TEAM

Who are the advisors?


Ari JuelsTechnical Advisor

Professor of Computer

Science at Cornell Tech.

Co-Director of IC4.

Previously Chief

Scientist of RSA.

Andrew MillerTechnical Advisor

Associate Professor of

Computer Science at

University of Illinois.

Advisor to Zcash and

Tezos.

Evan ChengTechnical Advisor

Director of Engineer at

Facebook. One of the

creators of LLVM,

which is used in Apple,

Google, Nvidia and

Intel.

Hudson JamesonTechnical Advisor

Ethereum Community

Manager

Jake BrukhmanToken Sale Advisor

Previously CTO at

Triton Research and

launched CoinFund.

Advisor to Kin by Kik.

Brian LioAdvisor

CEO of Smith+Crown, a

blockchain research

company.


OUR THOUGHTS

The opportunities


• Strong team and advisors. Smart Contract has been creating secure oracles for Bitcoin

and Ethereum for over 3 years.

• Backed by VC investors including Data Collective and Underscore VC.

• With oracles, blockchain technology and smart contracts will become vastly more

useful. ChainLink could help blockchain technology reach mass adoption.

• Their partnership with SWIFT, which is used by over 11,000 banks worldwide, allows

them to easily partner with other financial institutions going forward.

• Network effect - the platform will become increasingly more useful as it becomes the

go-to source for blockchain data feeds.


OUR THOUGHTS

Our concerns


• Regulation and compliance interaction with smart securities.

• ChainLink needs to be able to overcome the challenges associated with secure oracles:

• Confidentiality needs to be preserved for successful blockchain deployment.

• Infrastructure modifications – data sources need to digitally sign the data they serve.

• Off-chain computation such as managing credentials, logging into accounts to scrape data,

etc.

• Potential competition given the market need and potentially lucrative opportunity (e.g.

Mobius?)


OUR THOUGHTS

What do we recommend?

For flipping: Positive.

• Strong market interest without a lot of marketing and PR.

• A portion (amount unspecified) of the hard cap has already been sold in the presale.

• Tokens will be distributed immediately after the end of crowdsale.

For long-term holding: Positive.

• ChainLink is solving a real and highly lucrative problem with a lot of use cases.

• The partnership with SWIFT legitimized ChainLink and provided traction with SWIFT

being a paying customer.

• Good chance to be successful with its strong team and advisors.



CrushCrypto ICO Review ChainLink (LINK) · exchange network similar to ShapeShift, and CryptaMail,...

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