$29.260 / $25.860
What is Chainlink (LINK)
ChainLink is a ‘decentralized oracle network’ which aims to provide real world data into smart contracts on the blockchain. The problem with blockchains is that each blockchain has its own world, and getting information from the outside is a very hard thing to do. ChainLink is trying to get information in and out of a blockchain while maintaining the security, trust and decentralization. On ChainLink’s network, services are paid with the platform’s native crypto currency, LINK.
ChainLink has a network of nodes in order to provide information to and from the blockchain. ChainLink plays a role of a ‘secure bridge’ for dApps. ChainLink’s platform has a long list of big partners such as Polkadot, Synthetix, SWIFT and Google. There is a ton of advantages that ChainLink’s network could provide to those partners, for instance, ChainLink’s platform can be used in order to execute a real world money transfer into the blockchain from SWIFT.