Chainlink

What is Chainlink?

Chainlink is a decentralized blockchain oracle network that bridges different blockchains by enabling secure communication between smart contracts and real-world data and services outside of blockchain networks. It works by relying on a network of independent entities called oracles that gather and verify data from various sources. Chainlink has several applications, such as in finance, insurance, and supply chain management. The LINK token is used to compensate Chainlink node operators for their work, and it is an essential component of the Chainlink network. Chainlink was created by SmartContract, a blockchain technology startup that released a white paper in 2017 outlining their vision for a decentralized oracle network.