Chainlink (LINK): Advancing Decentralized Oracles, Secure Data Feeds, and Cross-Chain Interoperability for the Future of Smart Contracts | by Michael P. Di Fulvio | The Capital | Feb, 2025
Introduction
Chainlink, commonly identified by its cryptocurrency token LINK, is a pioneering project in the decentralized oracle space. Its purpose is to bridge the gap between blockchain-based smart contracts and external, real-world data, a critical challenge previously referred to as the “oracle problem.” Chainlink offers a secure, decentralized network that enables smart contracts to interact with off-chain data, events, and payment systems without compromising the integrity or reliability of blockchain ecosystems. This article delves into Chainlink’s history, technical framework, current use cases, and its projected future within the evolving Web3 landscape.
Historical Overview of Chainlink
Founded in 2014 by Sergey Nazarov and Steve Ellis, Chainlink began as an initiative by SmartContract, a blockchain-focused technology company. Its whitepaper, co-authored with Cornell professor Ari Juels in 2017, outlined a vision for solving the oracle problem by decentralizing external data feeds.
In September 2017, Chainlink raised $32 million through an Initial Coin Offering (ICO), issuing its native token, LINK. Of…
