What is Chainlink?

Chainlink is a cryptocurrency that aims to bridge the gap between external data sources and smart contracts by extending incentives to the data providers. Data providers are termed as oracles in the language of cryptocurrency.

*The decentralised oracle network delivers tamper-proof, reliable output and input for smart contracts across blockchains.

*Data is collected from the oracles and match the requirements of the smart contracts with the results which are deemed to be most accurate.

*Track record of the oracles, the integrity check is conducted. The integrity check factors include response time, request completed and the LINK at stake.

* It is a bridge between external data and the node. It has the capability to read, process and write data on the blockchain.

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