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View ChartChainlink is a decentralized oracle network and blockchain abstraction layer that communicates off-chain data to blockchains. Its oracles securely enable computations both on and off the blockchain, supporting hybrid smart contracts and cross-chain interoperability.
The Chainlink blockchain is hosted on the Ethereum platform, which uses a proof-of-stake operating protocol. Additionally, Chainlink is an open-source blockchain project, enabling anyone to view and contribute to the project's code.
Chainlink was proposed in 2017 and launched in 2019 by Steve Ellis, Ari Juels, and Sergey Nazarov to address an issue known as 'the blockchain oracle problem'. Oracles are network entities that handle traffic between two non-compatible systems. The blockchain oracle problem affects all blockchains because they are essentially closed systems that cannot push or pull data to or from outside systems.
Blockchain protocols cannot permit this ability as it would compromise the security that blockchains are renowned for. Additionally, oracles enable data from external sources to trigger smart contracts, which is not something that blockchains are designed to do.
As of May 2025, Chainlink had grown to more than 2,300 projects built using it as a source.
It has a maximum supply of 1 billion tokens, of which over 650 million have been issued.
In some ways, the Chainlink network complements the Ethereum network and other blockchains. It can facilitate secure communication between Ethereum projects and various off-chain data sources. As LINK is built on the Ethereum platform, it is compliant with its protocols.
Ethereum tokens can be used for purchases, to facilitate smart contracts, and to pay validators for operating the Ethereum network. In contrast, Chainlink tokens have only one use: to pay node operators in the Chainlink network.
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Trade| Comparison Metric | Chainlink (LINK) | Pyth Network |
|---|---|---|
| Architecture Model | Push Model (Pushes data on-chain periodically or when price thresholds trigger) | Pull Model (DApps/users request and pull data on-chain on demand) |
| Market Positioning | DeFi price feeds, cross-chain messaging (CCIP), RWAs, and institutional enterprise solutions | High-frequency trading (HFT), latency-sensitive derivatives, and DEXs |
| Chain Coverage | Extensive coverage across EVM chains, Layer 2s, non-EVMs, and TradFi integrations | Primary concentration on Solana, high-throughput Layer 1s, and Layer 2s |
| Data Source | Decentralized independent node operators aggregating multi-source API data | First-party data (Direct price feeds provided by market makers and major exchanges) |
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