Chainlink is a decentralized oracle network designed to extend the functionality and reliability of blockchain smart contracts by providing them with real data and off-grid computing.
The native cryptocurrency Chainlink, a LINK token, belongs to the infrastructure token category. Such projects focus on improving the functionality, efficiency, and security of blockchains and their applications (dApps).
In particular, Chainlink falls into the category of oracle tokens and aims to extend the usefulness of smart contracts by allowing them to receive data from the real world. This can be information about the weather or the results of sports matches. This, among other things, is especially useful for decentralized finance (DeFi) protocols, NFTs, and earning games (GameFi).
LINK is the native cryptocurrency of the Chainlink network. LINK can be used to pay for services related to the Chainlink network, to receive an award for assistance in ensuring the functioning of the network through staking, and to participate in the management process that determines the strategic development of Chainlink.
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