Chainlink (LINK) is a decentralized oracle network that enables smart contracts to securely interact with real-world data, APIs, and external systems. It plays a critical role in expanding the functionality of blockchain applications beyond on-chain data alone.

WHAT IS CHAINLINK (LINK)?
Chainlink is an open-source protocol launched in 2017 that connects smart contracts with off-chain data through a network of decentralized oracles. By solving the "oracle problem," Chainlink allows blockchains to access external information in a reliable and tamper-proof way, making complex decentralized applications possible.

KEY FEATURES

• Decentralized Oracles: Chainlink uses a network of independent data providers to deliver accurate and secure off-chain data to smart contracts.

• Hybrid Smart Contracts: Enables smart contracts to combine on-chain code with external data sources for more advanced use cases.

• Cross-Chain Communication: Through its Cross-Chain Interoperability Protocol (CCIP), Chainlink allows smart contracts on different blockchains to interact seamlessly.

• Verifiable Randomness: Offers provably fair randomness through its Verifiable Random Function (VRF), ideal for gaming, NFTs, and lotteries.

• LINK Token: The native token is used to pay for oracle services and incentivize honest behavior within the network.