Chainlink
Definition
Chain Link is a blockchain-based oracle network that enables smart contracts to reliably access outside world data and execute automated transactions based on real-time data.
The main purpose of Chainlink is to enable smart contracts to access reliable and real-time data and trigger automatic transactions using this data. Chainlink acts as a bridge between blockchains and between the blockchain and the real world. In this way, smart contracts can use real-world data ranging from financial markets to weather and execute programmed transactions based on this data. Chainlink also uses various security mechanisms to ensure data security and accuracy and has a decentralized structure, ensuring reliability and transparency.
This entry is part of the JrKripto crypto glossary. We explain key terms and concepts to help investors and traders understand the cryptocurrency market. Clear definitions support better decision-making and risk management.
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The JrKripto crypto glossary explains important terms and concepts so investors can understand the market better. Clear definitions support decision-making and risk management. Each entry has a short definition and, where useful, an extended explanation for quick reference or deeper reading.
The glossary covers a wide range of topics from trading and DeFi terms to blockchain infrastructure and market indicators. You can find terms via search or the term list. Use the related terms section to discover related concepts.
