ChainLink

ChainLink (LINK) is a complex oracles system residing on top of the Ethereum blockchain, collating and offering real-world data to several decentralized blockchains.

Reliable decentralized oracle networks like ChainLink are essential for decentralized finance's future growth. It collates trustworthy information and creates a smart contract architecture. These smart contracts have access to accurate real-world data sources like bank account payments, data feeds, and web APIs. This way, data is supplied in a decentralized manner from different sources without compromising the Blockchain's security.