Chainlink is a decentralized oracle network that enables smart contracts on various blockchain platforms to securely interact with external data feeds, events, and payment methods. Launched in 2017, Chainlink aims to bridge the gap between blockchain technology and the real world by providing reliable, tamper-proof data sources to smart contracts. This is crucial for the functionality of many decentralized applications (dApps) that rely on external information to operate, such as those in finance, insurance, and supply chain management. Chainlink’s network is built around its native token, LINK, which is used to pay for services on the network, incentivize data providers, and secure the system. Its approach to solving the “oracle problem” in smart contracts has made it a pivotal player in the blockchain ecosystem.
