Developed by Sergey Nazarov and Steve Ellis, Chainlink (LINK) is a decentralized oracle network which aims to provide reliable and tamper-proof data for complex smart contracts on any blockchain. Link is the cryptocurrency native to the Chainlink network. It works on a reputation system where node providers that have a large amount of LINK can be rewarded with larger contracts, while a failure to deliver accurate information results in a deduction of tokens.  Chainlink had a  successful ICO in 2017 raising $32 million deeming it one of the most futuristic projects solving Blockchain problems. 

LINK plays a key role in maintaining and operating the Chainlink network. Smart contracts these days require data from external sources and oracles are the need of the hour. Chainlink has developed itself to become a reliable decentralized oracle that provides information to various protocols ranging from complex smart contracts to various DeFi protocols. Since nodes on Chainlink cannot function without LINK cryptocurrencies, they tend to be of high value in the market.