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What is Chainlink?
Chainlink is a network that allows off-chain data such as equity prices, bank payments or weather data to be communicated with on-chain data to enable the operation of smart contracts. Chainlink does not have its own blockchain but rather it can operate on a number of blockchain protocols. Chainlink is enabled by 'oracles', which are the intermediaries between off-chain and on-chain data.
The Chainlink token is designed to incentivise participants to provide and use this data. Simply put, Chainlink has the potential to connect smart contracts with the outside world, therefore enabling smart contracts to imitate the majority of financial agreements that are currently available.