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A decentralized oracle network that allows smart contracts to securely interact with real-world data.

Chainlink is a platform that aims to bridge the gap between blockchain technology and existing infrastructures. It operates as a decentralized oracle network, allowing smart contracts on various networks to interact with the data feeds, APIs, and traditional bank payments that Chainlink provides.

Chainlink is designed to connect smart contracts with real-world data, events and payments. Chainlink's decentralized oracle network provides reliable tamper-proof inputs (data feeds, APIs) and outputs for complex smart contracts on any blockchain. Smart contracts are digital agreements that execute themselves when certain conditions are met. However, to be truly effective, they require a reliable connection to the real-world data, which is where Chainlink comes in. Chainlink aims to bridge the gap between the off-chain world and on-chain world. LINK is the native token of the Chainlink network, used to pay for data services within the ecosystem. In accounting terms, owning LINK tokens would be considered as holding a digital asset and would need to be recorded and valued correctly in financial statements.

For more information, visit: https://chainlinklabs.com/


  • Example 1: A smart contract for crop insurance could use Chainlink to access weather data from an external API to determine whether a payout should occur.
  • Example 2: A DeFi protocol uses Chainlink oracles to fetch reliable and up-to-date price feeds for various cryptocurrencies.


Blockchain and Technology
Crypto Accounting
Crypto Basics
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