Yes, Chainlink is based on Ethereum. Ethereum is a decentralized platform that runs smart contracts: applications that run exactly as programmed without any possibility of fraud or third party interference.
Chainlink is a decentralized oracle network that provides reliable, tamper-proof inputs and outputs for complex smart contracts on any blockchain. Chainlink is the missing link that allows smart contracts to securely access off-chain data sources, like data feeds, APIs, and various web services.
NOTE: WARNING: Chainlink is based on Ethereum, but it is NOT Ethereum. Chainlink is its own separate blockchain-based platform with its own set of features, technology, and token. Therefore, please be aware that any investments made in Chainlink are not the same as investing in Ethereum and that the two should not be confused.
Without Chainlink, these smart contracts are only as good as the data they have access to. If that data is tampered with, corrupted, or simply not available, the contract will not function as intended.
This exposes users and dapps built on Ethereum to a great deal of risk. .
Chainlink solves this by providing a secure way to connect off-chain data to Ethereum smart contracts. With Chainlink, developers can build reliable dapps that are much less likely to fail due to bad data.
5 Related Question Answers Found
Chainlink is a decentralized oracle network that provides reliable, tamper-proof data and inputs to smart contracts on any blockchain. It was created by Sergey Nazarov and Steve Ellis in 2014. Chainlink is dependent on Ethereum in the sense that it is built on Ethereum’s blockchain and utilizes Ethereum’s smart contract technology.
Chainlink is a decentralized oracle network that provides reliable, tamper-proof data to smart contracts on Ethereum. Chainlink was created by Sergey Nazarov and Steve Ellis in 2014. The Chainlink network is secured by Ethereum smart contracts.
Chainlink is a decentralized oracle network that provides reliable, tamper-proof inputs and outputs for complex smart contracts on any blockchain. Oracles are needed in order for blockchains to interact with data from the real world. Chainlink is the most widely used oracle network in the world, with over 10,000 smart contracts deployed on Ethereum alone.
Yes, Ethereum is using Chainlink. Here’s why:
Chainlink is a decentralized oracle network that provides reliable, tamper-proof data for smart contracts on any blockchain. By connecting Ethereum smart contracts to external data sources, Chainlink allows those contracts to securely access off-chain data in a secure and reliable way.
Yes, Ethereum uses Chainlink. What is Chainlink? Chainlink is a blockchain-based decentralized oracle network that provides data to smart contracts on the Ethereum network.
