Chainlink is the largest provider of decentralized oracles in the crypto industry. The technology is particularly in demand in the field of decentralized finance. Oracles are also used by large companies that are not related to the blockchain. LINK is a native Chainlink token. It is used mainly to pay for the work of node operators, on the basis of which oracles work.

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We integrated @chainlink Proof of Reserve last year. But what exactly does this mean for Backed’s users? Let’s dive in and discover why this is so important. 🔍

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Tokenized real-world assets (RWAs) require collateral transparency.

That's why @BackedFi integrated #Chainlink Proof of Reserve—to help prove that its tokenized treasuries, ETFs, and other RWAs are fully backed.