Chainlink (LINK) is a oracle service, which aims to connect smart contracts with data from the real world. Since blockchains cannot access data outside their network.
oracles are needed to function as data feeds in smart contracts.
Oracles provide external data that trigger smart contract executions upon the fulfillment of pre-defined conditions.
How to attract users?
Participants on the Chainlink network are incentivized through rewards to provide smart contracts with access to external data feeds.
Should users desire access to off-chain data, they can submit a requesting contract to ChainLink’s network.
Your smart contracts connected to real world data, events and payments.
The Chainlink network provides reliable tamper-proof inputs and outputs for complex smart contracts on any blockchain.
Building a real value smart contract requires the use of multiple inputs to demonstrate contractual performance, as well as multiple outputs to influence external systems and / or send payments to complete the smart contract.
Chainlink provides your smart nodes with the input and output it needs to reach its full potential.
Chainlink’s decentralized Oracle network provides security guarantees such as smart contracts themselves.
By allowing multiple Chainlinks to evaluate the same data before it becomes a starting point, we get rid of any failures, and maintain the total value of a smart, secure, reliable and trustworthy node.
Chainlink, known as the LINK symbol, has been on the rise since 2019 as it made its way and many rocket elevations have risen, with over 1200% return on investment since the beginning of the year.
Due to the positive news about the partnership between Google and its reliance on chainlink technology, the digital currency LINK achieved a remarkable level, with the price of digital currency reached 1.93 dollars on June 13, 2019, the highest level reached by the currency.