Infrastructure / Multichain / LINK
Chainlink
Oracle infrastructure that connects blockchain applications to data and other networks.
THE OVERVIEW
What Chainlink does
Chainlink supplies infrastructure that applications use to read data onchain and communicate across networks. Its Data Feeds aggregate sources and publish information such as asset prices, reserve data and layer-two sequencer status for consuming applications. [1]
Cross-Chain Interoperability Protocol, or CCIP, is a separate part of the platform. It supports messages, token transfers, or tokens sent together with instructions to a receiving application on another supported blockchain. [2]
IN PRACTICE
What people use it for
Read reference data
Lending applications can use price feeds when valuing collateral. [1]
Monitor network status
Sequencer uptime feeds report the last known status of a layer-two sequencer. [1]
Connect applications across chains
CCIP can deliver a message, move supported tokens, or combine a transfer with an application action. [2]
UNDERSTAND THE TECHNOLOGY
Key concepts
Data feeds
Oracle networks publish aggregated updates for applications to read through onchain contracts. [1]
Feed configuration
Each integration has a network, contract address and update history. Consumers need to check the latest answer and its timestamp. [1]
CCIP
A messaging and transfer protocol with supported routes and receiving account types defined by its documentation. [2]
MARKET CONTEXT
LINK market
$14.02-2.33% 24hPrice history, market data and signal →FOLLOW THE STORY
Chainlink news & coverage
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Official resources & sources
Dextape explanations based on the primary documentation below.