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DIR Return to: Chainlink (LINK)
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#Post#: 21--------------------------------------------------
About Chainlink (LINK)
By: Ziadjbt78 Date: August 30, 2019, 9:04 am
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Chainlink (LINK) is a decentralized oracle service, which aims
to connect smart contracts with data from the real world. Since
blockchains cannot access data outside their network, oracles
are needed to function as data feeds in smart contracts. Oracles
provide external data (e.g. temperature, weather) that trigger
smart contract executions upon the fulfillment of pre-defined
conditions. Participants on the Chainlink network are
incentivized (through rewards) to provide smart contracts with
access to external data feeds. Should users desire access to
off-chain data, they can submit a requesting contract to
ChainLink’s network. These contracts will match the requesting
contract with the appropriate oracles. The contracts include a
reputation contract, an order-matching contract, and an
aggregating contract. The aggregating contract gathers data of
the selected oracles to find the most accurate result.
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