Recognizing the need for real-world data integration into smart contracts, Chainlink introduced a decentralized oracle network to the cryptocurrency space. Chainlink's oracle infrastructure securely connects blockchain-based smart contracts with external data sources, APIs, and traditional banking systems. <br><br>This integration of real-world data ensures that smart contracts can respond to real-time events and execute based on accurate information. Chainlink's decentralized nature and robust security measures have made it a go-to solution for a wide range of applications, including decentralized finance, insurance, gaming, and supply chain management.