About ChainLink
Chainlink is a decentralized network that provides data from off-chain sources to smart contacts on the blockchain. It does this through the use of oracles, software that serves as an intermediary between data sources and the blockchain. Because Chainlink is comprised of a network of decentralized nodes, it eliminates reliability issues associated with using a single, centralized source. LINK is used as payment to node operators, and is also used by node operators to stake in the network.
Chainlink’s decentralized metalayer of oracle networks allows smart contracts to seamlessly use and create an array of decentralized services that accelerate dApp development, enable cross-chain functionality, and harmonize disparate technologies.
See Also
What is chainlink mining?