Basics: Difference between revisions
From Chainlink Community Wiki
No edit summary |
No edit summary |
||
| Line 1: | Line 1: | ||
{{:Box-round|title=Chainlink - The basics| | {{:Box-round|title=Chainlink - The basics| | ||
A brief description of......goes here.}} | |||
__TOC__ | __TOC__ | ||
| Line 22: | Line 22: | ||
---- | ---- | ||
{{:Box-round|title=The Link token| | {{:Box-round|title=The Link token| | ||
LINK tokens are used to pay node operators for retrieving data for smart contracts and also for deposits ([[staking]]) placed by [[node operators]] as required by contract creators. | LINK tokens are used to pay node operators for retrieving data for smart contracts and also for deposits ([[staking]]) placed by [[node operators]] as required by contract creators. | ||
For an in depth look at the Chainlink token click [[The_Link_token|'''HERE''']]. | For an in depth look at the Chainlink token click [[The_Link_token|'''HERE''']]. | ||
}} | }} | ||
---- | ---- | ||
Revision as of 02:54, 12 April 2022
Chainlink - The basics
The oracle problem?
What is the oracle problem? The oracle problem is the challenge of connecting smart contracts to off-chain resources due to the inherent security properties of the blockchain. This oracle problem exists for every blockchain network and smart contract platform.[1] For more details on the oracle problem click HERE.
Smart Contracts
What are smart contracts? Smart contracts are tamper-proof programs on blockchains that facilitate automatic transactions by using conditional software logic such as, “if x is true, then execute y.”[2] For an in depth look at smart contracts click HERE.
Oracles, nodes & DONs
What are oracles, nodes & DONs? For an in depth look at Oracles, nodes & DONs click HERE.
The Link token
LINK tokens are used to pay node operators for retrieving data for smart contracts and also for deposits (staking) placed by node operators as required by contract creators. For an in depth look at the Chainlink token click HERE.
Staking
What is staking within the Chainlink ecosystem? Smart contracts are tamper-proof programs on blockchains that facilitate automatic transactions by using conditional software logic such as, “if x is true, then execute y.”[3] For an in depth look at Chainlink staking click HERE.
Blockchain agnostic
https://blog.chain.link/chainlinks-blockchain-agnostic-design/
Chainlink specific contracts
- Market & data feed speific contracts. We've broken the history out into contract-based milestones.
- Direct Request / Runlog (DR)
- Flux Monitor (FM)
- Offchain Reporting (OCR)
- (what could be next)
- Keeper contracts.
- VRF contracts.