Chainlink Price (LINK)

Chainlink (LINK) is an Ethereum-based token that is used to pay for oracle services on Chainlink’s decentralised oracle network. 

The oracle network enables smart contracts across the cryptocurrency industry to securely connect to and access external, real-world data, API feeds and payment methods. 

Operating on a fully decentralised network of nodes operated by node validators, the data provided by Chainlink oracles is reliable, tamper-proof and accurate, and is primarily used by smart contracts on any blockchain to receive up-to-date data.

Chainlink was one of the first networks to integrate both on-chain and off-chain data into smart contracts, meaning that DeFi platforms like decentralised exchanges and borrowing and lending services can be assured that their data is entirely accurate.

Chainlink’s native token, LINK, is now used as a payment method for the array of products Chainlink provides and can also be staked to help better secure the network.