About
Chainlink (LINK) is a decentralized oracle network that serves as the vital middleware connecting blockchain-based smart contracts with real-world data and off-chain computation. While blockchains are inherently secure and tamper-proof, they are "isolated" systems that cannot natively access external information like stock prices, weather data, or bank transaction statuses. Chainlink solves this "Oracle Problem" by utilizing a vast network of independent node operators that retrieve, validate, and deliver data to smart contracts.
The network is powered by the LINK token, an ERC-677 asset (backward compatible with ERC-20) used to pay node operators for their services and as collateral in the network's staking system to ensure data accuracy. Beyond simple data feeds, Chainlink has evolved into a comprehensive "Web3 Services Platform," offering the Cross-Chain Interoperability Protocol (CCIP) for secure communication between different blockchains, Verifiable Random Function (VRF) for gaming, and Proof of Reserve (PoR) for verifying asset backing. By providing a bridge between the traditional internet (Web2) and the blockchain (Web3), Chainlink has become the industry standard for decentralized finance (DeFi), insurance, and global trade systems.
