Chailink is the bridge that interconnects the real world, DeFi and dApps. It is the blockchain where these three worlds meet and communicate with each other. This happens through Oracles, which are third-party services that allow the blockchain to interact with the physical world and record data and information. By tapping into this data, Chainlink sets in motion a chain of smart contracts that work on the Ethereum network, creating a self-sustaining and decentralised operational infrastructure.
The LINK token is the economic heart of the protocol, the incentive given to the oracle nodes for their work on the network. For this function, it is very much like Bitcoin when it is distributed to miners. The ability to exchange data with the physical world makes Chainlink one of the first projects to foster interoperability between DeFi blockchains. It is therefore not surprising that LINK is positioned among the top 15 cryptocurrencies on the market.
Buy LINK, the token for decentralised oracles. Follow these 3 simple steps
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