Chainlink (LINK) is a cryptocurrency used for the operation of the Chainlink network. Chainlink is a decentralized oracle network that provides trusted real-world data to smart contracts. LINK coins are used to pay for these oracle services.
Blockchain networks cannot receive external data on their own. LINK coins enable smart contracts to access real-world data through oracles. LINK cannot be obtained through mining. All of the coins were created by the company.
Over the last 24 hour period, LINK has risen 16.54%. One of the reasons for this rise in LINK could be that the US-based Depository and Clearing Corporation (DTCC) has successfully completed a new tokenization test with several large institutions using Chainlink's Cross-Chain Interoperability Protocol (CCIP).
