ChainLink functions as a bridge for the gap between on-blockchain smart contracts and real-world applications. ChainLink does this through oracles that collect real-world data and bring it onto the blockchain to use in smart contracts. The oracles verify the data sources for accuracy and authenticity of data and brings it onto the blockchain to use in smart contracts if approved. ChainLink is an ERC-20 token that operates on the Ethereum blockchain, meaning that it is only functional with Ethereum smart contracts.
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