Chainlink (LINK)
- Official Website: chain.link
- Definition: Chainlink is a decentralized oracle network that connects smart contracts with real-world data.
- Category: Oracle Network, Token.
- What It Is: A middleware that enables blockchains to interact with external data feeds, APIs, and payment systems.
- Function: Provides reliable, tamper-proof data to smart contracts.
- Analogy: Think of Chainlink as a translator between blockchains and the real world. It helps smart contracts understand real-world information.
- Pros: Critical infrastructure for DeFi, strong partnerships, secure.
- Cons: Centralization concerns, reliance on node operators.
- Controversies: Criticism of tokenomics, competition from other oracle projects.
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This page was last updated on January 28, 2025.
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