Chainlink is a decentralized oracle network that brings off-chain data into an on-chain format, bridging the gap between the isolated blockchain and real-world data. It aims to ensure that the external information (pricing, weather data, event outcomes) fed to smart contracts remains untampered with. Chainlink is built on top of the Ethereum blockchain and Chainlink (LINK) is the native token of the protocol. LINK is used to pay Chainlink network operators for their services.
Chainlink is a product developed by a private company called SmartContract Chainlink Ltd. The project raised a total of $32 million during its ICO in 2017. It went live on the Ethereum mainnet 2 years later, on June 1st, 2019. Team behind Chainlink The team behind Chainlink is SmartContract Chainlink Ltd, a company co-founded by Sergey Nazarov and Steve Ellis. At the moment, LINK has two use-cases: Internal Payment This is the currency used to pay the Chainlink node operators for their work. Staking Chainlink node operators have to stake in the network in order to participate and provide data services. Nodes with higher stakes have a higher chance of getting selected to provide the requested data.