(LINK - $31,67) - April 2021
The problem: smart contracts can't access data on their own.
When developers implement their chosen smart contract, they encounter a connectivity problem. Their smart contract is unable to connect with key external resources like off-chain data and APIs.
This lack of external connectivity is due to the method by which consensus is reached around a blockchain's transaction data and is a problem for every smart contract network.
Smart Contracts provide the ability to execute tamper-proof digital agreements, which are considered highly secure and highly reliable. In order to maintain a contract's overall reliability, the inputs and outputs that the contract relies on also need to be secure.
Chainlinks provide a reliable connection to external data that is provably secure end-to-end.
Chainlink’s decentralized oracle network provides the same security guarantees as smart contracts themselves.
By allowing multiple Chainlinks to evaluate the same data before it becomes a trigger, it eliminates any one point of failure and maintains the overall value of a smart contract that is highly secure, reliable, and trustworthy.