ChainLink is a solution to the smart contract real world connectivity problem in the form of a secure oracle network. Until now, smart contracts have been limited in their connectivity since by design they are limited to what is on a blockchain. Link distinguishes itself from other oracle solution providers through decentralized network operational abilities.
Its decentralized approach limits third party risk while enabling LINK’s oracle solution connect real live data to the smart contract network. By utilizing many decentralized oracles rather a more centralized approach, LINK is bridging smart contracts and their blockchains to the real world. Oracles are incentivized to provide accurate data and penalized when they do not.