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Chainlink is the platform that connects real-world data, governments, enterprise systems, and thousands of blockchains into unified applications, already enabling tens of trillions of dollars in transaction value. Major financial institutions, national governments, and top DeFi protocols, including Swift, DTCC, Monetary Authority of Singapore, Euroclear, Central Bank of Brazil, Fidelity International, UBS, Aave, GMX, Lido, and more use Chainlink to power next-generation use cases across banking, asset management, DeFi, and other major sectors. It is the global standard for developing advanced blockchains applications that are highly secure, compliant with existing regulations, and integrated with existing legacy systems. Chainlink as technology It is a set of open standards for onchain data, cross-chain interoperability, and offchain computation. The platform is powered by decentralized oracle networks (DONs), which are composed of independent oracle node operators that come to consensus over any arbitrary input to deliver highly secure and reliable data, computation, and value to its intended destination. Chainlink node operators include traditional Web2 telecommunication providers, leading data providers, and Web3 infrastructure providers such as Deutsche Telekom, Swisscom, Vodafone, and Infura.The Chainlink data standard, including Data Feeds and Data Streams, is used to supply DeFi with financial market data; tokenized assets with proof of reserve (PoR), net asset value (NAV), assets under management (AUM); traditional institutions with identity and compliance data; and decentralized applications (dApps) with virtually any type of data point they need to function. The Chainlink interoperability standard, powered by the Cross-Chain Interoperability Protocol (CCIP), enables data and value to move seamlessly across any public and private blockchain, as well as facilitates communication between blockchains and traditional systems, such as banks, governments, and enterprises. CCIP secures tens of billions of dollars in asset value and has enabled the transfer of billions of dollars in cross-chain value. The Chainlink compute standard, powered by the Chainlink Runtime Environment (CRE) enables developers to easily build an application that combines any data, any blockchain, any legacy systems, and computation into a unified application. With CRE, developers can easily adapt the application to support new connections without having to rewrite the app.The Chainlink as economic system It is a platform supports a range of billing and payment models, including usage-based payments (e.g., subscription contracts and per-call models), revenue-sharing agreements (e.g., percentage of application revenue or recaptured MEV), Chainlink Build (i.e., a program where projects allocate a portion of their token supply), and Chainlink Scale (i.e., a program where blockchain ecosystems cover Chainlink service operating costs). Chainlink Staking adds an additional layer of cryptoeconomic security to the Chainlink Network where LINK is staked (locked up) and can be slashed (forfeited) as a penalty if service providers fail to meet predefined performance requirements. Both node operators and community stakers play a critical role in supporting the reliability and integrity of the Chainlink Network. LINK is the native token of the Chainlink Network, used for both payments and staking. Users can pay for Chainlink services in LINK tokens or in alternative assets (e.g., gas tokens) that are automatically converted into LINK via Payment Abstraction—streamlining the payment experience. Network service providers, such as node operators and LINK Stakers, earn rewards in LINK tokens, which can be staked to support the cryptoeconomic security of the Chainlink Network.

Analysis on ChainLink by PicoloResearch

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Chainlink is a decentralized oracle network. It was created in 2017 to address the issue of smart contracts having to rely on external data sources to execute their terms, for example, on APIs. The project aims to incentivize a network of computers to provide reliable data that smart contracts need to run effectively on blockchains. LINK tokens are the digital asset token used to pay for services on the network.In essence, Chainlink allows data providers to act as bridges between blockchain smart contracts and external data sources in a decentralized way. It can connect price data, verifiable randomness, medical data, weather data, external APIs, and more to a blockchain.<h3>What are LINK's key features and how does it work?</h3>The data collected can be considered reliable as every oracle within the Chainlink network is given a reputation score, thus data providers are incentivized to provide accurate data to score highly. Chainlink has a three-step process in place to communicate with and collect this data from external sources.Oracle Selection. A service-level agreement is created to specify data requirements needed by users. The user is then matched to an oracle that can provide the specified data using the SLA. The user then submits the SLA and deposits LINK into an Order-Matching contract, which accepts bids from oracles to provide the data.Data Reporting. Data oracles connect with external data providers, collect the data, and then it is sent back through the smart contract on the Chainlink blockchain.Result Aggregation. Data collected by the oracles is analyzed by an aggregation contract. Results of the data oracle are scored and sent to the user.Chainlink’s architecture is fundamental to the way in which these processes work. It consists of three types of smart contracts:<ul><li>Aggregating Contracts collect data from oracles and match the results with the smart contract that is needed;</li><li>Order-Matching Contracts match a service level agreement (SLA) with the best bidding oracles;</li><li>Reputation Contracts verify oracle integrity. They check factors such as the total number of completed requests, average response time, and the amount of LINK cryptocurrency staked on the oracle.&nbsp;</li></ul>Chainlink is also able to communicate with independent oracles that do not operate directly on its blockchain. These nodes are made up of two components:&nbsp;<ul><li>Chainlink Core is responsible for reading newly filed SLAs and sending data requests to the Chainlink Adapter.</li><li>Chainlink Adapter acts as the bridge between the node and the external data. The adapter reads and processes data to then send it to the blockchain.</li></ul>Chainlink's technology is based on the hybrid consensus algorithms of Delegated Proof of Stake (DPoS) and Proof of Authority (PoA), to transport consistent data very quickly.<h3>Where can you buy Chainlink?</h3>Chainlink (LINK) is available to buy from the CEXs and DEXs listed <a href="https://cryptorank.io/price/chainlink/exchanges" rel="noopener noreferrer" target="_blank" style="color: rgb(63, 81, 181);">here. </a>The most popular exchange is Binance, but CoinBase Pro, OKEx, and Huobi Global are also commonly used.

ChainLink

Chainlink is the platform that connects real-world data, governments, enterprise systems, and thousands of blockchains into unified applications.

Canton Ecosystem

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