BAND Dips Below $1 and LINK Eyes $14, BlockDAG’s Beta Testnet Backed by $209.5M Turns Heads

Chainlink (LINK) is a decentralized oracle network that enables smart contracts to interact with real-world data. While traditional blockchains cannot access external data on their own, Chainlink provides secure and tamper-proof oracles that feed smart contracts with reliable information from APIs, financial systems, IoT devices, and more. Therefore, this functionality is essential for use cases like DeFi, insurance, gaming, and supply chain automation, where smart contracts need external inputs to execute accurately.

Since its launch in 2017, Chainlink has become a foundational layer for many decentralized applications. Notably, it introduced the concept of hybrid smart contracts that combine on-chain code with off-chain data feeds.