Chainlink is a decentralized oracle network that provides external data entry to blockchains. Due to the working principles of blockchains, smart contracts do not work with external resources. However, Chainlink brings together blockchains and external data sources with oracles.
LINK is up 6.30% in the last 24 hours. The development company behind Chainlink has launched its Cross-Chain Interoperability Protocol (CCIP), which aims to provide interoperability between traditional financial firms and both public and private blockchains, under early access. This positive development may have been instrumental in the rise of LINK.
