Chainlink (LINK) is a blockchain network focused on enhancing interoperability by connecting off-chain resources, applications, and data with blockchain ecosystems. It is specifically designed to bridge smart contracts with real-world data, ensuring data authentication and verification for on-chain use.
Chainlink facilitates this connection by creating an ecosystem where data providers, known as ‘oracles,’ are incentivized to supply accurate and reliable data. These oracles are evaluated based on a data score and receive LINK tokens as rewards for their contributions to the Chainlink network.
Requests for data from off-chain sources are processed through the Chainlink protocol, which operates via a service-level agreement framework composed of three distinct contracts, each fulfilling a specific function.
