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Chainlink LINK |
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£7.87 |
1.6 % (24h) |
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Marketcap |
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£5,887,777,850 |
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Volume 24h |
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£134,139,025 |
Description
Chainlink (LINK) is a decentralized oracle network that provides critical real-world data to smart contracts on various blockchains. It solves the "oracle problem" by securely connecting on-chain contracts with off-chain information such as price feeds, weather data, and sports results. This capability is essential for the functioning of decentralized finance (DeFi) applications that rely on accurate and tamper-proof external data. The LINK token is used to pay node operators for providing and verifying the data, ensuring the network remains secure and reliable.