Is it correct way to add a Link Block from the elements panel
Add a social icon for the platform, e.g., Facebook, Twitter, Instagram).then
link the block to the respective social media profile via the link settings.because I saw some people embed code to add social integrations.
If you’re just linking to social media, then yes, you can just create a link + icon to list your social services.
What you’re probably thinking of is a “sharing” service which is slighly different, it’s a way for someone to share e.g. a blog article with their own favorite online services. Check out Share This, or Finsweet’s social share tool if you’re looking for that kind of functionality.