Chainlink (LINK): Key Overview (Short & Important)
Chainlink is a decentralized oracle network that securely connects off-chain data, APIs, and real-world information to on-chain smart contracts. Founded in 2017 by Sergey Nazarov and Steve Ellis, Chainlink solves the critical problem of smart contracts being unable to access external data on their own. By using a network of decentralized oracles, Chainlink removes reliance on centralized data providers, increasing security, reliability, and trust.
The LINK token is used to pay oracle operators for supplying accurate data and to incentivize honest behavior through staking. Chainlink is widely adopted across DeFi and enterprise use cases, with notable partnerships including Google and SWIFT, and integrations across multiple Ethereum-based networks.
👉 In short: Chainlink is essential infrastructure for DeFi and smart contracts, enabling secure, tamper-resistant access to real-world data.
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