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Chainlink is a decentralised oracle system on Ethereum.

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What is Chainlink ?

Chainlink is a decentralised oracle system. Since the creation of Ethereum and the increasing use of decentralised applications in 2017, smart-contracts are gradually proving their usefulness. The consequences are diverse, affecting finance, insurance, governance methods, etc.

What problem is Chainlink trying to solve?

While the execution of smart-contracts is predictable and inevitable, there are points of weakness for functions that require data external to the blockchain. The role of oracles is to bridge the gap between the “real” world and the blockchain by injecting external data when applications need it. If an application relies on a single oracle to provide it with data, then that oracle can easily inject bad data.

How does Chainlink seek to solve this problem?

Chainlink enables the use of a network of independent oracles, each of which provides a piece of data on its own. By synthesising all of the results provided via the Chainlink protocol, the end-user benefits from a high level of certainty regarding the accuracy of the data ultimately injected into the autonomous contract.

What is the role of the LINK token?

Chainlink sets up an economic incentive system whereby honest oracles are paid and dishonest oracles are economically penalised. The LINK token is used as a unit of value in the Chainlink economic system.

Everything about Chainlink.

What is
Chainlink ?

Un nouveau type d’applications émerge, hébergé sur des réseaux blockchain publics, la plupart du temps sur Ethereum. Ce sont des applications ouvertes à tous…

What is
decentralised finance?

Decentralised finance (DeFi) is the use of the concept of decentralisation specific to cryptocurrencies applied to the principles and mechanisms of finance.

What is a
Blockchain?

A blockchain is a digital ledger – a register – that uses cryptographic methods to structure data into blocks.

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