 | |
| Denominations | |
|---|---|
| Plural | Chainlink |
| Code | LINK |
| Development | |
| Original author(s) | Sergey Nazarov, Steve Ellis,Ari Juels[1][2] |
| White paper | chain |
| Code repository | github |
| Written in | Solidity,Go |
| Operating system | Blockchain-agnostic |
| Source model | Open source |
| License | MIT License |
| Ledger | |
| Supply limit | 1,000,000,000 |
| Website | |
| Website | chainlinklabs |
Chainlink is a decentralizedblockchain oracle network. Chainlink's token is onEthereum.[3][4] The network is intended to be used to facilitate the transfer of tamper-proof data from off-chain sources to on-chainsmart contracts.[5]
Chainlink was created in 2017 by Sergey Nazarov and Steve Ellis,[4] who co-authored awhite paper introducing the Chainlinkprotocol and network withCornell University professorAri Juels the same year.[1] Chainlink acts as a "bridge" between ablockchain and off-chain environments.[6] The network, which servicessmart contracts, was formally launched in 2019.[4]
In 2018, Chainlink integrated Town Crier, atrusted execution environment-based blockchain oracle that Juels also worked on. Town Crier connects theEthereum blockchain with web sources that useHTTPS.[7]
In 2020, Chainlink integrated DECO, a Cornell project co-created by Juels. DECO is described by its authors as aprotocol that useszero-knowledge proofs to allow users to prove information is true to a blockchain oracle without revealingsensitive information, such as birth dates.[8]
Chainlink's oracle network allows blockchains to connect to off-chain data and computation resources.[citation needed]
In addition to the transfer of external information to a blockchain, Chainlink can also be used for several different off-chain computation functions, including averifiable random function (VRF) and data feeds. The data feeds have been used to bring election data on-chain.[9]
Node operators are compensated with the network's nativecryptocurrency, LINK. All LINK tokens have been premined and largely withheld by the central issuer. A fraction of the pre-mined token supply was offered for sale to retail buyers in aninitial coin offering (ICO)[citation needed]. According to Chainlink, the trade value derived from these tokens is used to pay node operators for retrieving data from smart contracts, and also for deposits placed by node operators as required by contract creators. Tokens can be stored in any ERC-20 wallet, as the ERC677 token retains all the functionality of an ERC-20 token.[10][11]
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