7. Chainlink
Chainlink is a decentralized mystic network that connects smart contracts (like contracts on Ethereum) with external data. The blockchain itself does not have the ability to reliably connect to external applications.
Chainlink’s decentralized mystic allows smart contracts to communicate with external data, so that zilches contracts can be executed based on data that Ethereum itself cannot connect.
Chainlink’s blog details many use cases for its system.
One of the many use cases explained is monitoring water supplies to prevent pollution or illegal siphoning in certain cities.
Sensors can be installed to monitor the company’s water consumption, groundwater level and original water level.
A mystic chainlink can track this data and feed it directly into the smart contract.
You can create smart contracts to impose fines, issue flood warnings for cities, or discover companies that use a city’s water too much with zilches of data received from mystic.
