Chainlink was created to allow different blockchain networks to collaborate with each other. It is a decentralized network of nodes/servers that are built on Ethereum's blockchain but is not limited to that blockchain only. Through Chainlink's distributed software, data and information from sources outside the blockchain can be added to smart contracts in the blockchain via so-called oracles. Chainlink is mainly used in DeFi and decentralized applications, but other industrial sectors can also apply Chainlink's functionality.
Written by SafelloUpdated over a week ago