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Chainlink is a blockchain-based middleware, acting as a bridge between cryptocurrency smart contracts and off-chain resources like data feeds, various web APIs, and traditional bank account payments. This way, Chainlink allows Smart Contracts to communicate with external resources on their own. LINK is an ERC20 token based on the Ethereum Blockchain. It is used to pay Chainlink Node operators for the retrieval of data from off-chain data feeds, formatting of data into blockchain readable formats, off-chain computation, and uptime guarantees they provide as operators. The Chainlink token is also used as a collateral for node operators, which prevents bad actors.

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ChainLink - Analysis & Research report -

Algo. score rating 3.9/5 (#63) 100% Open channels 66% Team Strength 63% Product Strength 100% GitHub Activity 86% Coin strength 50% Brand awareness See attached PDF Analysis & Research report for more details. See for the most detailed data available on Ethereum.
Coin Bureau

ChainkLink (LINK): Smart Contract Oracle Solutions

Chainlink is a project that is developing smart contract solutions that will allow blockchains to connect to external data providers. You can think of it as a sort of decentralised Oracle solution. There are two primary components in the ChainLink architecture – an on-chain infrastructure and an off-chain infrastructure. On-chain functions are oracles which are created to process user data requests. The Off-chain components are oracle nodes that exist off of the chain but are connected to the Ethereum blockchain. Chainlink is also notable for its difference from other oracle protocols. Their oracle distribution is decentralised which helps from a security perspective. These off-chain nodes are rewarded for completing requests by receiving compensation. This compensation is in the form of the Native token on the ChainLink ecosystem, LINK. These are ERC20 standard tokens. Chainlink uses a simple consensus protocol that relies on threshold signatures. Chainlink issued these tokens in an ICO that took place in September of 2017. They were able to raise a total of $32m in exchange for 35% of the total LINK token supply of 1bn LINK. Not long after the ICO, LINK tokens hit the exchanges. They have been generally less volatile than similar sized altcoins. There are good levels of liquidity for LINK tokens across a range of exchanges.

ChainLink Rating Report

ChainLink is operated by smart contracts and is designed to enable stable linking of external databases to access to a wide range of external data. At present, the project is operated centralized. The distribution of LINK tokens is currently concentrated, and the use of collected funds has not yet been disclosed. LINK tokens are used solely as a reward to nodes operators, as a result, the internal value of the tokens has not yet fully been recognized.