Chainlink (LINK) is a pioneer in providing decentralized oracle networks that allow smart contracts to securely and seamlessly connect with off-chain data. This helps developers create more efficient and secure applications and has attracted crypto industry leaders such as AAVE, Brave, and Synthetix into the Chainlink ecosystem.
Oracles are perhaps the most important but least understood services in the cryptocurrency space. They provide smart contracts with mission-critical data needed to execute transactions properly on the blockchain.
Proof-of-Stake secures the Chainlink network. They introduced staking to the protocol in 2022. It’s important to note that oracle networks are not blockchains, they are a type of decentralized computing services that provide the bridge to essential real-world data.
Chainlink is one of the most widely used oracle networks for smart contracts today. What makes Chainlink unique are its secure data feeds and the ease with which it brings data to the blockchain that is not native to the blockchain.
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The native currency of Chainlink, LINK token, is available on Abra Trade.
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About Abra
Established in 2014, Abra is on a mission to create a simple and honest platform that enables millions of cryptocurrency holders to maximize the potential of their assets. Abra enables both individuals and businesses to safely and securely buy, trade, and borrow against cryptocurrencies – all in one place. Abra’s vision is an open, global financial system that is easily accessible to everyone.
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Based in the United States, Abra is available in over 150 countries and makes it easy to convert between crypto and a wide variety of local fiat currencies. With over 2MM customers, $7B in transactions processed, and $1.5B in assets under management, Abra continues to grow rapidly. Abra is widely loved and trusted – in April 2022, pymnts.com reviewed and rated Abra amongst the top 5 most popular crypto wallets in the market. Abra is backed by top-tier investors such as American Express Ventures and First Round Capital.
How Abra Protects Your Funds
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Abra employs a state-of-the-art enterprise risk management framework that comprises a comprehensive set of policies, procedures, and practices detailing all applicable risk-related objectives and constraints for the entirety of the business. Abra has instituted a complete set of requisite systems and controls that continuously enforce these policies, procedures, and practices to manage all operations, including credit and lending. Abra’s independent Risk Committee comprises experienced compliance, risk, securities, and fraud operations professionals with backgrounds in industries ranging from traditional and digital assets banking, payments, remittance, to fintech.
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