ChainLink

by SmartContract

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IPFS

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Penta

by Penta Global Foundation PTE.LTD

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ChainLink

by SmartContract

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IPFS

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Penta

by Penta Global Foundation PTE.LTD

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What problem does this service solve?

ChainLink wants to solve the connectivity problem facing smart decentralized applications. By connecting smart contracts to external data resources, many potential use cases for blockchain can be opened up.IPFS is a decentralized alternative to HTTP that can be used to make recording blockchain transactions more efficient.Penta does not appear to solve any problems better than existing blockchain platforms.

Token Stats

Company Description

ChainLink is developing the LINK Network, which will enable connected smart contracts. LINK will provide smart contracts with a variety of external data and access to APIs. ChainLink's goal is to solve the connectivity problem that plagues smart contract based systems, and discourages mass adoption. Many decentralized applications are unable to connect with important external data sources due to limitations involving their consensus protocols. The LINK network wants to connect their smart contracts with external systems and APIs by using secure middleware.

The Interplanetary File System (IPFS) is a decentralized network protocol for sharing hypermedia in a distributed file system. IPFS can be used to link blockchain transactions This effectively timestamps and secures the content, without having to put the data on the chain itself. Filecoin, an IPFS-based decentralized storage cloud, is closely related with the IPFS protocol, and provides the incentive system.

Penta is developing a blockchain platform that DApps can be built on. It will have a Dynamic Stake Consensus (DSC) algorithm to confirm transactions. The Penta network is currently powered by the Ethereum-based PNT token.

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