A smart contract can follow every instruction and still act on unsuitable data. A calculator is equally loyal to the wrong number.
That's a useful starting point for researching Chainlink: how does outside information reach an application, and is it suitable for the decision being made?
Data feeds can update when a heartbeat, a time threshold, is reached or when the observed value changes enough. Settings differ by feed. Check the specific feed rather than assuming every price updates continuously.
LINK has documented roles in service payments and network security. Research whether paying demand can support the valuation, how supply changes, and which dependencies could fail.
Keep the service question and the token-price question separate. Useful plumbing still needs a sensible price tag.
https://docs.chain.link/architecture-overview/architecture-decentralized-model
$LINK
#Chainlink #Oracles
That's a useful starting point for researching Chainlink: how does outside information reach an application, and is it suitable for the decision being made?
Data feeds can update when a heartbeat, a time threshold, is reached or when the observed value changes enough. Settings differ by feed. Check the specific feed rather than assuming every price updates continuously.
LINK has documented roles in service payments and network security. Research whether paying demand can support the valuation, how supply changes, and which dependencies could fail.
Keep the service question and the token-price question separate. Useful plumbing still needs a sensible price tag.
https://docs.chain.link/architecture-overview/architecture-decentralized-model
$LINK
#Chainlink #Oracles