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What is (LINK)
is a decentralized oracle network founded in June 2017 by the company . The project connects smart contracts with external data sources such as APIs and information systems. Projects that depend on off-chain events or information can easily integrate these triggers and feeds into their on-chain code. also offers a suite of other products, such as data reporting, result aggregation, and random variable generators.
LINK is native ERC-677 token that is used to pay for the network’s oracle service. LINK has a limited one billion supply that was distributed via an ICO. There is no mining or staking involved in releasing coins, but does have a Proof of Stake-based consensus mechanism for choosing who verifies transactions.
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