Chainlink provides a decentralized oracle network that enables companies to build their own oracle solutions to power their smart contracts. Oracles, also called nodes, serve as middlemen between the blockchain itself and external sources of data. Essentially, under the Chainlink framework, a failure of one oracle to deliver data will not lead to any considerable problem since the information it transmits is also shared by other nodes on the network. Chainlink’s approach to blockchain oracles ensures better accuracy of data and improved security. These factors are particularly important for businesses whose operations depend on updates and fast-changing data.
LINK is a utility token for Chainlink that functions as a means of payment for the services of nodes. In other words, when a certain company wants a node operator to retrieve data for its smart contract, it sends the operator a sum of LINK.
LINK Payment Benefits:- Value
LINK value has been rising steadily for the past several years, together with the growing popularity of Chainlink. - Market Capitalization
Since its introduction, LINK has reached one of the highest market capitalizations among decentralized finance tokens. - Availability
LINK is available for purchase at all major exchanges such as Binance, Coinbase Pro, and OKEx.