Myntkaup logo
IS
EN
Login

Chainlink (LINK)

A network of oracles that bring outside information, such as prices, into smart contracts. LINK is an ERC-20 token on Ethereum, with 1 billion in total.

Chainlink is a network of so-called oraclesOracleA service that brings outside information, such as prices or weather data, into smart contracts on a blockchain. that bring information from outside blockchains, such as crypto prices, into smart contractsSmart contractA program that runs on a blockchain and automatically carries out what it was written to do once certain conditions are met.. LINK is Chainlink's token. Sergey Nazarov and Steve Ellis founded Chainlink in September 2017, and the network went live on Ethereum in May 2019.

Smart contracts can't fetch data from outside the chain by themselves. Chainlink solves this with decentralised oracle networks, where many independent node operators fetch data from many sources. Lending apps in DeFiDeFi (decentralised finance)Financial services, such as lending, saving and trading, that run on smart contracts on a blockchain instead of through a bank or other middleman., for example, use Chainlink's price feeds to know what collateral is worth at any moment.

With CCIP, Chainlink's standard for communication between blockchains, tokens and messages can also move between chains.

Those who use Chainlink's oracles pay for them in LINK, and node operators are paid in LINK. Node operators and other LINK holders can also lock up LINK in staking, and part of the stake can be lost if oracle networks fail to meet set requirements.

Chainlink isn't a blockchain of its own. LINK is an ERC-20ERC-20A standard for tokens on the Ethereum network that lets every wallet and service receive and send them in the same way. token on Ethereum, more precisely ERC-677, an extension of ERC-20. There are 1 billion LINK in total, and no more will be created.

What to keep in mind

  • LINK also exists on networks other than Ethereum. Make sure the sender and recipient use the same network.
  • To send LINK from your own wallet, you need ether to pay the gas.
  • Use of Chainlink depends heavily on DeFi, and the price of LINK swings a lot.

Everything in Myntkaup Learn is written and regularly reviewed by the Myntkaup editorial team. It is for education and is not investment advice. Editorial policy. Updated 18 October 2026.