Coinbase has added 2 trading pairs for the token of smart contract platform named LINK ‘Chainlink’ on its pro trading platform.
LINK is now available to trade with the USD ‘LINK/USD] and with Ethereum [ETH] ‘LINK/ETH’. The post adds that the token will be available within all of its covered jurisdictions apart from the state of New-York.
As per the announcement, Coinbase Pro will roll-out options for LINK in 4 steps. The four steps are as:  transfer-only,  post-only,  limit-only, and  full trading. For the primary 3 options, severally, users can put LINK in their Coinbase Pro accounts, post limit orders, and wait to receive order matches.
According to the release, LINK is an ERC-20 token native to the Chainlink decentralized oracle network. In line with Chainlink’s whitepaper, LINK is the token deployed for payments in Ethereum smart contracts backed on Chainlink:
“In order for a smart contract on networks like Ethereum to use a ChainLink node, they’ll need to pay their chosen ChainLink Node Operator employing the LINK tokens, with costs being set by the node operator supporting demand for the off-chain resource their ChainLink provides, and also the supply of alternative similar resources.”
The Chainlink network reportedly supports Ethereum smart contracts that relies on inputs from external information resources, APIs, and payment systems. According to Chainlink’s official web-site:
“By permitting multiple Chainlinks to evaluate the similar information before it becomes a trigger, we eliminate any one point of failure, and maintain the overall price of a smart contract that’s highly secure, reliable, as well as trust-worthy.”
As ‘reported‘ earlier, Coinbase Pro hiked its fees and declared a different market structure for the platform earlier in the month of March.