/biz/ - Business & Finance

>>4139430
>they arent partners
There's that magic meme word again.

>the sibos demo wasnt of the chainlink network by the way.
Lmao, source?

Various versions of pic related made up half of Sergey's presentation at Sibos btw.

>>4115647
Look at pic related.

Not only would you have the same/similar data coming from a variety of input sources, but you'd have very different data coming from different parties.
All for the same basic transaction.

If every party to this transaction used their own private centralized oracle, that would be useless to all the other parties and no smart contract would be able to happen.

>>4115702
>so why not just grab it from some website?
That's what they're doing, sorta.
Data typically comes from APIs. Banks collectively carry out BILLIONS of similar API calls every day. They rely heavily on this.
But the way they process and record this data does not allow for smart contracts, or they would have existed a long time ago.

In order to be able to use this data in smart contracts, this data needs to be translated into data you can feed into the blockchain.
That way, the data becomes decentralized and thus extremely secure ("trustless").

The way to translate this data is through oracles. They have existed for some time, but in a centralized form, which defeats the entire purpose.

Chainlink is the first decentralized oracle solution.

Look at pic related. Data is going to and coming from a multitude of very different parties to a single transaction (smart security/bond).
Each and every single party to this process could in theory use its own decentralized oracle to process their data, but that would be useless to all the other parties.
Having all those oracle computations happen within the same network is a massive benefit.

>>4111986
>oh and if my bak does decide to use smart contracts or oracles, we have teams of developers for that (it's not rocket science)
Using centralized oracles makes no sense when the goal is trustlessness.
Look at pic related, and now imagine every party to this transaction relying solely on their own oracles. The transaction simply would not happen.

>you feeling freaked now? You should be.
Lol, dat dime-store psychological appeal.
Truly PUA-tier.

>>4100822
For very simple transactions, both a centralized and a decentralized oracle solution make equal sense.
For more complex transactions, only a decentralized oracle solution makes sense.
Conclusion: just adopt the decentralized solution.

Look at pic related from the SIBOS demo; this is all part of a single general concept, but it has multiple parties sending data through and receiving data via a multitude of different oracles (multiple banks, Standard&Poor's, SWIFT, ...).
In cases like this, having all those oracles be part of the same network is a tremendous benefit.

And even for cases with a single input source, you can still use Chainlink.

>>4083820
>I'm not confident banks can't just hire a couple guys to code a proprietary version of this.
They could and should do exactly this for internal transactions.

But for shit like pic related, with multiple parties involved in the same general trasaction context, having a common decentralized network is VASTLY superior to every party using their own centralized oracles.

>>4078632
>idk what is that Chainlink thing you're talking about
Guess you weren't at SIBOS then.
Pic related was about half of Sergey's entire presentation.

>>4072845
Simple answer: the blockchain is so revolutionary because a blockchain is a decentralized network of proofs.
Even an industry blockchain like Hyperledger Fabric is heavily decentralized.
The more decentralized a blockchain is, the more distributed proofs there are, the more "trustless" it is.

If you add data to this blockchain via a centralized oracle solution, it defeats the entire purpose of decentralization.

A little more specifically; look at pic related. This was a major part of Sergey's presentation at SIBOS.
You can see that there are a variety of different instances where Chainlink is used as an intermediary for data coming from (and goig to) various banks, Standard&Poor's, SWIFT.
Each and every party to this process could use its own oracles, but the vastly better solution is for everything to take place within a single network for instant collation and verification by comparison.

>>4063800
>>4064130
Also, multiple versions of pic related made up about half of the entire SIBOS slideshow.

>>4052066
>Chainlink
>never gets mentioned in regards to SWIFT / SIBOS

Except pic related was literally half of Sergey's slideshow.

Smartcontract.com was always about the decentralized oracle network. Always.

You realize no one now has the means to buy this coin with BTC now, right? You realoze you killed your own coin right? All you had to do was wait a few hours until after the fork but you autists ruined it

>>3995620
We on top now mup de do

>>3968341
>there have been 200k to 800k buy and sell walls that got bought or sold regularly
Sure, at certain points in time, like when the news came hours before the demo that companies like AXA, Sony, BNP Paribas, ... were involved in the demo.

At quieter times, there were constantly ~100k sell walls appearing, moving, and disappearing. Keeping the price down.

>sergei didn't even mention chainlink at sibos
Except pic related was one of the main slides of his presentation.
Stop lying.

Also, we don't have any footage of the entire presentation.
Stop lying.

>with the 11k banks
11k banks were never going to be involved in the demo, and nobody thought this.
Stop lying.

>>3938490
The transactions are dependent on external sources gathered by external nodes.
See pic which was literally half of the SIBOS slide show presented by Sergey.

>>3935144
>>3935305

>everything priced in for weeks now
Just hours before the actual demo there was news that the following were directly involved in the demo:
AXA
Sony
Barclays
BNP Paribas
Fidelity
Societe Generale
Santander

Priced in, my ass.

>no working product
Go set up an oracle right now on their website.

>team is silent
See the list stated above. They had NDAs clogging up their arteries.

>Sergei just wrote what everyone already know
Sergei silenced the fud that "the demo was just a pat on the back for winning SWIFT's competition" by confirming further discussions and development.
Sergei silenced the "lol 2 man team" fud by confirming they were hiring.

>exchanges are just rumors but would have happened already
They weren't focused on exchanges. But they better be after SIBOS ends today.

>no roadmap
The network is done at v1.0. All that needs to happen is constructive development (hence the hiring) and adoption (which will be greatly helped by the marketing effect from SIBOS).

>product is only working on ethereum
... and bitcoin, and hypgerledger. With more to come.

>sergei is working on smart contracts, which don't need their oracles to work, they can use private or free ones
See pic.
This was literally half of the SIBOS presentation. Notice the little chainlink logos everywhere?

>it'll take months or even years before they can start providing their own oracles
This could start today.

>companies are already using smart contracts and working just fine
In small-scale applications, like AXA's Fizzy.
Chainlink is the first and only fundamentally decentralized oracle network. It makes all other specifically developed oracle solutions obsolete.
Hence why AXA was involved in the demo. Their Fizzy could easily run on Chainlink instead.

>presale and ico investor still have huge bags of 2x-3x gains they're not scared to sell for better projects
Price has been pretty much level for nearly three weeks. If they wanted to sell, they would've done it long ago.

>>3919678
Those people know the name of Sergey's company and know that it uses a decentralized network to do smart contracts.
What's the problem?

>>3919696
>The slides are basically the ones from Coindesk yesterday with Chainlink in them.
Except pic related is from yesterday.

https://chainlinkonsibos.com

ONE HOUR

DON'T MISS THIS SHIT, NOT AGAIN

>>3900119
???

mmmmmmmmhhhhhh