Review on Chainlink by Eve Vallenilla

One of the great benefits of the potential of blockchain technology is the ability it provides to some platforms to create smart contracts. Since this digital resource is extremely versatile and has the necessary flexibility to adjust to any condition or requirement within the context of the problem we want to solve.

There is no doubt of the importance that these digital tools regain, but however, they are limited in terms of their connection with real world events. Precisely to achieve this link between the real plane and the computer plane, another very flexible and very useful technological resource is used, which is known as an oracle.

Chainlink is a blockchain platform whose purpose is to use its virtual machinery as a safe scenario for the inter-relationship between the so-called smart computer contracts and the integration of external data collected by the oracles to take place.

Just as no living being can live in isolation, smart contracts need information from the real world to adapt their clauses to solve all those variables that affect their faithful compliance and that were previously established.

The only drawback that oracles tend to present is that they generate some mistrust as to whether or not the information provided is valid, since it may come from unreliable external sources.

In this sense, Chainlink uses a set of oracles without custody and free from intermediaries, which collect and analyze external situations and send it in an encrypted way to the core of the network where the smart contracts are hosted.

In this way, the Chainlink infrastructure becomes a comprehensive ecosystem that creates effective solutions for trade organizations large and small.