Hello, sorry to be annoying but does anyone have a

Question

Chainlink Official

Junkflex

Hello, sorry to be annoying but does anyone have a

link to info explaining chainlinks conscensus algorithm and how it differs from other blockchains?

#blockchain #chainlink #cryptocurrency #english

0

31.07.2023

2 ответов

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Junkflex Автор вопроса

Joy | Chainlink Labs
Hi there, welcome to the Chainlink community! Cha...

Thank you Joy, appreciate it.

0

31.07.2023

Joy | Chainlink Labs · Accepted Answer

Hi there, welcome to the Chainlink community! Chainlink is not a blockchain and therefore doesn't use a consensus algorithm like Proof of Work (PoW) or Proof of Stake (PoS). Chainlink is a decentralized oracle network that provides real-world data to smart contracts on the blockchain. Smart contracts are pre-specified agreements on the blockchain that automatically execute when certain conditions are met. However, these smart contracts are limited because they can only access data on their own blockchain and cannot access real-world data or off-chain data. Chainlink was developed to solve this problem. It serves as a secure bridge between on-chain and off-chain systems. Using a decentralized oracles network, Chainlink allows smart contracts to securely interact with off-chain APIs, data feeds, payment systems, and other resources. Here are some resources that could help you better understand Chainlink: 🔹Whitepaper 2.0 🔹What is Chainlink? 🔹Chainlink, an Overview, and Our Focus 🔹Chainlink Economics 2.0

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Hello, sorry to be annoying but does anyone have a

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