Chainlink (LINK) is a pioneer in providing decentralized oracle networks that allow smart contracts to securely and seamlessly connect with off-chain data. This helps developers create more efficient and secure applications and has attracted crypto industry leaders such as AAVE, Brave, and Synthetix into the Chainlink ecosystem.
Oracles are perhaps the most important but least understood services in the cryptocurrency space. They provide smart contracts with mission-critical data needed to execute transactions properly on the blockchain.
Proof-of-Stake secures the Chainlink network. They introduced staking to the protocol in 2022. It’s important to note that oracle networks are not blockchains, they are a type of decentralized computing services that provide the bridge to essential real-world data.
Chainlink is one of the most widely used oracle networks for smart contracts today. What makes Chainlink unique are its secure data feeds and the ease with which it brings data to the blockchain that is not native to the blockchain.
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The native currency of Chainlink, LINK token, is available on Abra Trade.Download App
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