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BTCC / Hashtag / oracle chainlink
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What is chainlink & how does it work?

Chainlink is the most widely used oracle network for powering universally connected smart contracts, enabling any blockchain to access real-world data & APIs. Chainlink is the most widely used oracle network for powering universally connected smart contracts, enabling any blockchain to access real-world data & APIs.

What is a chainlink price feed Oracle?

These types of oracles are used to power Chainlink Price Feeds, providing DeFi smart contracts with on-chain access to financial market data. The opposite of input oracles are “output oracles,” which allow smart contracts to send commands to off-chain systems that trigger them to execute certain actions.

What smart contracts can chainlink be used for?

Securities smart contracts – ChainLink can be used effectively for bonds and smart contracts based on interest rate derivatives. They depend on data available on different financial websites and will require APIs to report on market prices and more. Insurance smart contracts – data from external sources can be used in case of an insurable event.

What are chainlink's service-level agreements?

Service-level agreements – Chainlink will eventually allow users to define the terms of the oracle job requested in on-chain smart contracts, which may require that oracle nodes put down a security deposit that is only returned to the node if they perform according to pre-agreed upon terms (e.g. data is delivered on time).

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