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Link Coin (often associated with Chainlink) is a cryptocurrency related to the Chainlink blockchain ecosystem. Chainlink is a decentralized oracle network designed to provide real-world data to smart contracts on various blockchains. The native token of Chainlink, often called LINK, is used to pay for services within the network, such as compensating node operators for retrieving and verifying external data.
LINK tokens are primarily used by smart contract developers to incentivize and pay Chainlink node operators to access data from external sources, including APIs, weather reports, payment systems, and more. This is critical for executing smart contracts that need information beyond the blockchain, which is typically referred to as "off-chain data."
Chainlink’s goal is to bridge the gap between blockchain technology and real-world data, helping decentralized applications (dApps) interact with the outside world securely and accurately. LINK's utility within this system plays a key role in making the technology scalable and reliable.
Overall, Chainlink has gained significant adoption across various sectors, including DeFi, insurance, and supply chain management, with LINK serving as a critical asset in facilitating these blockchain-based applications.
