re: Chainlink a good opportunity in the cryptocurrency space at these prices

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You guys explained what Chainlink does, but didn't mention the utility or function of the token.

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The token will be used to secure the oracle networks via staking which is currently live on a small scale. Chainlink holders (which ideally will eventually be big data companies) are able to put their LINK up for stake and they are able to provide data to the oracle network. If this data is tampered with or false data is provided then some of your tokens will be lost. On the other hand if you provide accurate data then you will be rewarded with more LINK.

Besides companies earning income from selling their data via staking, the token must also be used as payment for any application that needs to access the data feeds. So think of it in terms of “Gas fees”. Ethereum is used when a transaction is made on the network. The same will happen when price feed data is pulled, essentially a LINK gas fee to access and use the network.

Chainlink is not charging for this currently to my knowledge. The team is focusing on building and getting customers onboarded and then they will scale and begin this. Someone can correct me if I am wrong about this.