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Founded by Sergey Nazarov and Steve Ellis in 2017, Chainlink enhances the functionality of decentralized applications (DApps) by ensuring secure and reliable data connection.

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Link is an ERC-20 token based on the Ethereum blockchain.

Unlike ether (the native cryptocurrency of Ethereum), link uses a type of proof-of-stake (PoS) consensus protocol where participants have to run their own nodes and are required to provide data tosmart contractsin order to receive link tokens as a reward.

It’s not a case of simply depositing tokens and earning interest.Because link is used both for the exchange of data services and for node validator staking, it is used both as a means of payment and as a work token.

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