What is ChainLink Token (LINK)?
Chainlink (LINK), launched in 2017, is a decentralized oracle network that aims to connect smart contracts with real-world data. It is designed to bridge the gap between blockchain-based smart contracts and external data sources. The Chainlink network provides reliable, tamper-proof inputs and outputs for complex smart contracts on any blockchain.
The LINK token is used to pay for services on the network. Chainlink's unique value proposition lies in its ability to securely and reliably connect blockchains with real-world data, enabling smart contracts to interact with and respond to real-world events. This has important implications for the development of more complex and useful blockchain applications, particularly in fields like finance, insurance, and supply chain management.