Chainlink is a decentralized oracle network that brings off-chain data into an on-chain format, bridging the gap between the isolated blockchain and real-world data.
It aims to ensure that the external information (pricing, weather data, event outcomes) fed to smart contracts remains untampered with.
Chainlink is built on top of the Ethereum blockchain and Chainlink (LINK) is the native token of the protocol. LINK is used to pay Chainlink network operators for their services.
Smart contracts are the “If-This, Then-That” software code through which instructions will be executed when specific conditions are met. However, smart contracts can read only on-chain data.
For smart contracts to read real-world data, they must find a way to connect and synchronize with external data sources. This is where oracles are used as the ‘bridge’ that allows off-chain data to be made available on-chain.
The Chainlink protocol is a decentralized network of nodes that enables real-world data to be made available on-chain.
Chainlink’s main users are project developers who want to integrate Chainlink into their projects or those who want to sell their data and become part of the participating nodes.
Some of the notable players participating in the Chainlink ecosystem include Aave, Synthetix, Yearn.Finance, and Google.
29 Projects Integrated With Chainlink : decrypt.co/46918/29-...chainlink-last-month
Deep Dive on Chainlink and Risks : youtu.be/oszRMlrmm6o
Source : Coin Bureau, www.youtube.com/chan..._GSMbpiV8spgD3ZGloSw
It aims to ensure that the external information (pricing, weather data, event outcomes) fed to smart contracts remains untampered with.
Chainlink is built on top of the Ethereum blockchain and Chainlink (LINK) is the native token of the protocol. LINK is used to pay Chainlink network operators for their services.
Smart contracts are the “If-This, Then-That” software code through which instructions will be executed when specific conditions are met. However, smart contracts can read only on-chain data.
For smart contracts to read real-world data, they must find a way to connect and synchronize with external data sources. This is where oracles are used as the ‘bridge’ that allows off-chain data to be made available on-chain.
The Chainlink protocol is a decentralized network of nodes that enables real-world data to be made available on-chain.
Chainlink’s main users are project developers who want to integrate Chainlink into their projects or those who want to sell their data and become part of the participating nodes.
Some of the notable players participating in the Chainlink ecosystem include Aave, Synthetix, Yearn.Finance, and Google.
29 Projects Integrated With Chainlink : decrypt.co/46918/29-...chainlink-last-month
Deep Dive on Chainlink and Risks : youtu.be/oszRMlrmm6o
Source : Coin Bureau, www.youtube.com/chan..._GSMbpiV8spgD3ZGloSw
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