What is Chainlink?
Chainlink is a decentralized Blockchain Oracle network. It is a data feed that connects blockchains to off-chain data information that is not native to the blockchain itself.
The network assures the flow of tamper-proof information that can be used by complex smart contracts that empower all sorts of decentralized applications that rely on the ability of digital agreements to govern and manifest fully.
A smart contract is basically a set of rules that resides on the blockchain and run processes accordingly.
The spectrum of case uses and problems that the Chainlink oracle network addresses and overcomes is infinite.
The Chainlink network is driven by an on-growing open-source community of data providers, node operators, researchers, smart contract developers, and more.
A network working together with the desire to make this world a better place.
The Chainlink node operators provide oracle computation directly to smart contracts across any blockchain, and by doing so, they earn revenue. They are the network's backbone, running and maintaining the infrastructure that ensures that any Smart Contract running on any blockchain has secure and reliable real-world data.
Data providers can sell data using their existing APIs pretty much immediately. The network empowers developers by providing a bountiful amount of resources, guides, and support from the community.
Basically, it is used for anything that would benefit from the transparency, efficiency & security of blockchain-based smart contracts.
There is no need for a centralized source of data delivery with chainlink.
$LINK, the network's native coin has been outperforming lately, setting a new ATH today, crossing the $50 mark with over $19B in market cap.
Chainlink's growing use cases and cross-blockchain integrations have led the coin to rally since the beginning of the year, making a 5X return on investment.
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