Decentralized oracle network
LINK token is the default token for Chainlink. Link are used as a payment to node operators for retrieving data to put in the smart contracts, and for deposit by node operators as required by contract creators. Chainlink is a decentralized oracle network that enables the access of real-world data, payments, events, and off-chain computation. This process however, still maintains the security and reliability of the blockchain technology. Nodes that provide poor service are also penalized on the Chainlink network by taxing their stake of LINK, therefore eliminates the bad apples and provides only accurate data to the network.
Richard F. Dulude, Fundamental Labs, Andreas Schwartz, George Burke, Limitless Crypto Investments, Nirvana Capital, FJ Syndicates.