Chainlink(LINK)

Chainlink is a decentralized oracle network that provides reliable and secure access to off-chain data and other external resources to Ethereum and other blockchain networks. It is built on the Ethereum blockchain and is designed to connect existing networks and technology to the Ethereum blockchain.

Chainlink is a distributed network of secure and reliable oracles that can retrieve data from external sources such as banks, stock exchanges, and other blockchain networks. This data can then be used to trigger smart contracts on the Ethereum blockchain, allowing for more complex and sophisticated automated transactions.

Chainlink works by connecting smart contracts to a network of oracles. These oracles are responsible for collecting data from off-chain sources and relaying it to the blockchain. Once the data is collected, it is cryptographically signed and timestamped, ensuring that it is secure and reliable. The data is then used to trigger a smart contract, allowing for automated transactions to be executed on the Ethereum blockchain.

Founder: Sergey Nazarov