What is an “oracle” in blockchain?
Chainlink is a decentralized oracle network that provides off-chain data and computation results to on-chain smart contracts.
When using a DeFi protocol, check which oracle it uses and how often prices are updated—this affects whether liquidations are accurate and timely.
$LINK is the token of the Chainlink network, used to pay for node services.
If you know someone who’s new to this, feel free to share this with them.