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Graph Blockchain (CSE:GBLC) allocates capital into Chainlink token
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  • Graph Blockchain (GBLC) has initiated a position in the Chainlink network's LINK token for the purposes of staking
  • The company deployed C$0.5 million into LINK as the final tranche of its previously announced C$2 million altcoin investment
  • The Chainlink network aims to allow smart contracts to interact with real-world events
  • LINK is the digital asset token used to pay for services on the Chainlink network
  • LINK is built on the Ethereum blockchain and has a fixed supply set at 1 billion tokens
  • Graph Blockchain is a development company that provides high-performance blockchain solutions
  • Graph Blockchain (GBLC) is up 3.23 per cent and is currently trading at $0.16 per share

Graph Blockchain (GBLC) has initiated a position in the Chainlink network's LINK token for the purposes of staking.

Staking refers to storing cryptocurrency in a digital wallet to help a blockchain network process transactions more securely and efficiently.

The company deployed C$0.5 million into LINK as the final tranche of its previously announced C$2 million altcoin investment.

Chainlink is a decentralized oracle network that provides off-blockchain data to smart contracts. It was first described in a white paper published in September 2017.

The decentralized network aims to bring real world data onto the blockchain so that smart contracts can interact with real world events and reduce their reliance on trusted third parties.

LINK is the digital asset token used to pay for services on the Chainlink network. It is built on the Ethereum blockchain in accordance with the ERC20 standard for tokens.

LINK can be bought and sold for fiat currency or other digital currencies and has a fixed supply set at 1 billion tokens.

Paul Haber, CEO of Graph Blockchain, commented,

"We are very excited to be deploying funds into our third token purchase. We feel strongly that LINK will appreciate in value given it has a substantial market cap of over US$13 billion, a fixed supply and is possibly the most important piece of infrastructure in the blockchain ecosystem.

Graph understands firsthand how valuable bridging on-chain and off-chain data sources is to smart contracts and Chainlink is the best solution on the market."

Graph Blockchain is a development company that provides high-performance blockchain solutions including data analysis, consulting services and data implementation. The company intends to be the first publicly traded altcoin proof-of-stake miner through its ownership of Babbage Mining.

Graph Blockchain (GBLC) is up 3.23 per cent and is currently trading at $0.16 per share as of 9:32 am ET.

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