Chainlink (LINK) is a decentralized oracle network designed to provide real-world data to smart contracts on blockchain networks. This functionality is crucial because smart contracts often require external data inputs to execute agreements based on real-world events (e.g., price feeds, weather data, or sports scores). Chainlink acts as a bridge between blockchain smart contracts and off-chain data sources, ensuring decentralized and tamper-resistant data feeds, enhancing the reliability and utility of smart contracts.
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Source: Lookonchain
