Chainlink is a decentralized oracle network that connects blockchain-based smart contracts to real-world data sources. It was founded in 2017 by Sergey Nazarov and Steve Ellis. The native currency of Chainlink is LINK, which is used to pay node operators for providing data and services to the network.
The main use case of Chainlink is to provide accurate data to smart contracts so that they can execute as intended. This can be used for a variety of applications such as financial contracts, insurance claims, supply chain management, and more. This allows those applications to be more reliable and efficient than if they were relying on centralized data sources. ChainLink could also be used for other purposes such as payments, identity management, etc.
Chainlink aims to provide a secure and reliable connection between blockchains and external data sources. The platform is designed to be scalable and easy to use. Chainlink also plans to offer security enhancements such as "decentralized oracles" which would allow smart contracts to connect with multiple data sources.