A linked list is a dynamic data structure made up of nodes, where each node typically contains two components: a data field (the value being stored) and a link field (commonly called a pointer or reference). The pointer’s role is to store the memory address (or reference) of the next node in the sequence, thereby maintaining the logical order of the list even though nodes may be scattered throughout memory. This is a key contrast with arrays, which store elements contiguously and rely on index arithmetic to locate the next element.

Because each node explicitly points to the next node, linked lists support efficient insertion and deletion operations compared with arrays. To insert a node, you allocate it and then adjust pointers so it fits into the chain. To delete a node, you redirect the pointer of the previous node to skip over the removed node. Traversal is performed by starting at the head node and repeatedly following the pointer until a null reference indicates the end of the list.

The other options do not correctly describe what stores the location of the next node. An index is used in array-like structures, not in a standard linked list node. The value is the payload data, not the link. The “header” (often called the head pointer) is an external reference to the first node, not the field inside each node that links to the next. Therefore, the correct answer is the pointer.