XUC (Exchange Union)
U.S., Japan, and South Korea
The United States, Japan, and South Korea issued a joint warning to the blockchain industry about the ongoing threat posed
$LINK is the native token of Chainlink, a decentralized oracle network that connects smart contracts with real-world data. In simple terms, Chainlink is designed to bring external data into the blockchain to enable smart contracts to interact with information outside their native network.
The $LINK token is used to pay node operators on the Chainlink network for retrieving and delivering data. Node operators are responsible for fetching data from various sources, validating its accuracy, and delivering it to smart contracts. By using $LINK as payment, node operators are incentivized to provide accurate data in a timely manner.
Additionally, $LINK can also be staked as collateral by node operators to guarantee the accuracy of the data they provide. If a node operator fails to deliver accurate data, they risk losing their staked $LINK tokens as a form of penalty.
Overall, $LINK plays a crucial role in the functioning of the Chainlink network by incentivizing node operators to provide accurate data and ensuring the security and reliability of smart contracts.
