"In this paper we present ChainLink, a decentralized oracle network. We describe the on-chain components that ChainLink provides for contracts to gain external connectivity, and the software powering the nodes of the network. We present both a simple on-chain contract data aggregation system, and a more efficient off-chain consensus mechanism. We also describe supporting reputation and security monitoring services for ChainLink that help users make informed provider selections and achieve robust service even under aggressively adversarial conditions."
What we don't like:
There is a lot of new oracle systems coming into the market that could potentially steal away possible partnerships and market share from ChainLink. Ethereum themselves could potentially create an upgrade to the network that includes an oracle system.
What we like:
Smart contracts will be able to work with trusted external data sources via chainlink. ChainLink is an oracle that will relay input of data that will allow for the real world to be able to interact with the blockchain. The unique selling proposition is that the oracle system that chainlink runs is decentralized, relieving the possibility for a conflict of interest to occur while relaying data. ChainLink has a major partner in the international bank messaging company and system SWIFT which means they have the potential to be used by hundreds of banks in the future.