Facilitation of smart contracts that require external data feeds, such as price feeds for financial contracts and marketplaces
Provision of reliable information for insurance smart contracts, like IoT data verifying insurable events occurred
Enablement of trade finance smart contracts through GPS positioning and customs data, confirming the fulfilment of agreements
Connection of Decentralised Finance (DeFi) applications with traditional payment systems, bridging the gap for smoother transactions
Utilisation in prediction markets for access to real-world outcomes needed for the execution of wagers
Support for various next-generation contracts, including securities smart contracts, by supplying necessary market data
Assurance to dApp developers that their applications can securely interact with real-world data sources, expanding functionality
Enhancement of gaming platforms by verifying in-game asset ownership and distribution without revealing sensitive player information.
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About
ChainLink is a decentralised oracle network designed to bridge the gap between smart contracts on blockchain technology and real-world applications, which often require off-chain data. It was created to address a key problem: smart contracts cannot natively fetch real-world data. Launched by Steve Ellis, Ari Juels, and Sergey Nazarov in 2017, ChainLink aims to provide reliable connectivity to external data. The distinct feature of ChainLink is the decentralisation of both the oracles and the data sources they rely on, ensuring that no single point of failure can compromise the integrity of the data. The network's native token, LINK, is used to pay for services on the network and motivate data providers to act truthfully.
Facilitation of smart contracts that require external data feeds, such as price feeds for financial contracts and marketplaces
Provision of reliable information for insurance smart contracts, like IoT data verifying insurable events occurred
Enablement of trade finance smart contracts through GPS positioning and customs data, confirming the fulfilment of agreements
Connection of Decentralised Finance (DeFi) applications with traditional payment systems, bridging the gap for smoother transactions
Utilisation in prediction markets for access to real-world outcomes needed for the execution of wagers
Support for various next-generation contracts, including securities smart contracts, by supplying necessary market data
Assurance to dApp developers that their applications can securely interact with real-world data sources, expanding functionality
Enhancement of gaming platforms by verifying in-game asset ownership and distribution without revealing sensitive player information.
News
No News Found
No News Found
About
ChainLink is a decentralised oracle network designed to bridge the gap between smart contracts on blockchain technology and real-world applications, which often require off-chain data. It was created to address a key problem: smart contracts cannot natively fetch real-world data. Launched by Steve Ellis, Ari Juels, and Sergey Nazarov in 2017, ChainLink aims to provide reliable connectivity to external data. The distinct feature of ChainLink is the decentralisation of both the oracles and the data sources they rely on, ensuring that no single point of failure can compromise the integrity of the data. The network's native token, LINK, is used to pay for services on the network and motivate data providers to act truthfully.
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