Wat is Chainlink

Chainlink is a unique network platform that is aimed at ensuring the security of personal and payment data when conducting transactions with smart contracts based on Ethereum.

Moreover, the developers have improved the protection of the transmitted information both inside and outside the blockchain. Between the blocks, particular nodes called oracles are located. These interconnected oracles reconcile incoming data from different sources and then transfer it to a smart contract. The main goal of such a system is to make the Internet free from inaccurate information, although it is challenging to verify millions of transactions a day centrally. But Oracles are up to the task.

It turns out that the Chainlink ecosystem simultaneously supports the smooth operation of smart contracts, checks the data transmitted with their help, and eliminates the possibility of fraud.

The Chainlink project is already used by giants such as Binance, AAVE, and even Google. Soon, developers plan to connect intelligent contracts of another type, not only Ethereum. Collaboration with companies such as Swift, Gartner, and IC3 helps the sustainable development of the project. In fact, a system of this kind makes the whole system a pioneer, adding security to the LNK proprietary cryptocurrency.