Chainlink's purpose is to enable different blockchain networks to collaborate with each other. It is a decentralized network of nodes and servers built on the Ethereum blockchain, but it is not limited to that chain alone. Through Chainlink's distributed software, data and information from off-chain sources can be added to on-chain smart contracts via so-called oracles. Chainlink therefore connects smart contracts with real-world data, bridging the gap between the blockchain and the real world. Since Chainlink provides data to smart contracts and integrates with multiple blockchains, there is no need for its own blockchain or consensus mechanism. Instead, Chainlink relies on the consensus mechanisms of the blockchains supported by the network. Chainlink is primarily used in DeFi (decentralized finance) and decentralized applications, but other industry sectors can also utilize Chainlink's functionality.

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