What Is Chainlink? A Two-Minute Explainer

What Is Chainlink? A Two-Minute Explainer

The Chainlink network offers a solution to the age old problem Garbage in, garbage out Which means that an application can only produce high quality Results with high quality data. Chainlink provides decentralized applications with the definitive truth about the external world So they can trigger reliable real world outcomes. You have probably heard how blockchain Based Smart contract applications will change the way The world exchanges value and facilitates agreements But there is a problem… A blockchain’s security is derived from a decentralized Network of independent validators Who purposefully limit their connection to the outside world To securely retrieve data from the outside world Smart contracts require an additional piece of infrastructure Known as an oracle. The data that controls Smart contracts needs to meet The highest possible standards Because it will directly control billions and eventually Trillions of dollars in value.

But, what if you could leverage the same Decentralized computation guarantees used To secure the blockchain to securely retrieve And validate the data Smart contracts require?

Chainlink is a decentralized oracle network That provides smart contracts a tamper proof, and highly available Connection to all of the world’s highest quality data feeds. With chainlink, a Smart contract can access data pertaining to Financial markets Cryptocurrency prices Weather Sports results IOT sensor readings And any other real world validated data needed To enable more robust and useful blockchain based applications. Chainlink provides the definitive truth about the real world for high value Smart contract application for any blockchain network. Securely connecting the world’s existing infrastructure To the emerging blockchain infrastructure that aims to redefine it..

Seaswami LLC found this on YouTube

Scroll to Top