What is ChainLink?

What is ChainLink?

Chainlink (LINK)



SmartContract is a fully decentralized Oracle Network that uses to LINK network. The LINK network is the first decentralized Oracle network that provides smart contracts with access to off-chain payments, external data, and any other API capabilities. Anyone with useful off-chain services or data feed such as local payments can provide them directly to smart contracts in exchanges for LINK tokens.  The LINK network is a recognized network in the cryptocurrency industry. Some of the users of the platform include Cornell, SWIFT, Gartner and World Economic Forum. According to LINK, they are proud to be working with SWIFT on SWIFT Smart Oracle.

The LINK Network provides smart contracts with access to APIs, data and bank payments. Developers encounter connectivity problems once they start to implement their chosen smart contracts. The smart contracts may be unable to connect with key internal resources like APIs and off-chain data. The lack of connectivity can be due to the method by which consensus is reached. The LINK network solves the problems and connectivity which is a key limiting factor for Smart Contract Adoption.

SmartContract also uses ChainLink on the LINK network. ChainLink is a secure blockchain middle ware that allows the connection of smart contracts with critical resources and various networks. The smart contracts need resources to become useful for use cases. The LINK network is building secure oracles for Ethereum and Bitcoin, connecting smart contracts to critical external data feeds on various networks. The SmartContract team is excited about making a world of smart contracts securely connected to APIs and off-chain data and widely accepted payments they need for 90% of use cases.

The LINK network uses a ChainLink Node Operator as a way to monetize developer experience with a specific API. If you would like to operate the ChainLink Node for direct purchase by a smart contract, the Link Network team can help you with the setup. To access critical off-chain resources, the Link network started by creating a decentralized infrastructure for smart contracts. The platform is now an auditable, scalable and secure way to add data, APIs and off-chain payments into a smart contract.

The team that heads the SmartContract and the LINK network include Sergey Navarov, the CEO who begin his career by building peer-to-peer marketplaces. Steve Ellis is the CTO at the company and was previously a Software Engineer and team lead at Pivotal Lads. The team includes advisors like Brian Lio, Hudson Jameson among others.

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