Smart contracts can’t see off-chain prices. How are these prices brought onto the blockchain?
One detail: In 2023, Chainlink launched the Cross-Chain Interoperability Protocol (CCIP), which is used to transfer messages and tokens between different blockchains.
Smart contracts on a blockchain can’t actively access internet data. Oracles are needed to write external data onto the blockchain—this is what’s commonly known as the “oracle problem.”
Understanding this is more important than memorizing a bunch of jargon. Invest according to your own risk tolerance, and leave yourself plenty of room.
$LINK is the token of the Chainlink network, used to pay for oracle services. The current price is 11.627.
#LINK
One detail: In 2023, Chainlink launched the Cross-Chain Interoperability Protocol (CCIP), which is used to transfer messages and tokens between different blockchains.
Smart contracts on a blockchain can’t actively access internet data. Oracles are needed to write external data onto the blockchain—this is what’s commonly known as the “oracle problem.”
Understanding this is more important than memorizing a bunch of jargon. Invest according to your own risk tolerance, and leave yourself plenty of room.
$LINK is the token of the Chainlink network, used to pay for oracle services. The current price is 11.627.
#LINK