How does Chainlink work?
Chainlink is a decentralized oracle network that provides reliable, tamper-proof inputs and outputs for complex smart contracts on any blockchain.
It connects smart contracts to external data sources, APIs, and payment systems in order to automate complex business logic and provide real-world data to the blockchain. The Chainlink network consists of nodes that are run by independent operators called “oracles”. These oracles are responsible for collecting data from off-chain sources and feeding it into the blockchain in a secure and reliable manner.
The Chainlink network also includes a set of core components such as the Chainlink Core, which is responsible for connecting the oracles to the blockchain, and the Chainlink Aggregator, which is responsible for aggregating multiple oracle responses into one unified response. The Chainlink network works by allowing users to create requests for data from off-chain sources. These requests are then sent out to the oracles on the network who respond with their own data feeds.
The Chainlink Aggregator then takes all of these responses and combines them into one unified response that is sent back to the user’s smart contract on the blockchain. This ensures that users can trust that they are receiving accurate data from reliable sources without having to worry about any tampering or manipulation of the data.
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