What is ChainLink (LINK)?
What is ChainLink?
ChainLink (LINK) is described as a decentralised oracle service, claiming to be the first platform of its kind. LINK wants to make it possible for blockchain-based smart contracts to connect to all external systems.
ChainLink aims to utilise oracles as agents that find and verify real-world data to then be integrated into smart contracts. Through the interaction of smart contracts with key off-chain data and popular payment methods, LINK believe this is an integral part of blockchain’s development. Any data, payments, e-signature, or other API provider, as well as individual developers, can easily join the network by connecting an API they're familiar with.
ChainLink is a blockchain middleware that appeals to a large growing industry. Through the ability to let smart contracts access key off-chain resources, ChainLink could play a large part in the mainstream adoption of blockchain technology.
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