/biz/ - Business & Finance

Smart Contracts are currently hackable. At the bottom of this post is a free tutorial on how to steal from Smart Contracts by targeting their single node. Chainlink fixes this. Chainlink acts as a middleman which will secure the transaction and create multiple nodes. Pic related shows what this looks like. Without Chainlink, there would be only one data input, and one node. Pic related shows how Chainlink creates more nodes which secures the transaction. The hacker mentioned in this video is creating an updated series (check his blog or newest video) on a new method for targeting the Smart Contract node. If you understood all this and still don't see how Chainlink isn't valuable then you don't understand the security flaws that Chainlink has solved. Crypto needs Smart Contracts and they need to make sure that their transactions are safe from hackers like below.

https://youtu.be/-IoBu2-39ME

Bought 10K Link and 125 ETH.
Anons, am I gonna make it?

>>11423244
that's what link is

Unlike most on this board I'm actually successful and have a life.
I also hold a lot of link.
Keeping up with all the developments/connections is fun but takes a lot of time. You also have to sift through all the faggotry cancer and incel fud. I'd rather spend that time with family and friends.

Any high school or college age link holders want to put together a weekly or bi weekly digest of all the good stuff? I'll pay 10 bucks a week for just a screenshot digest of what happened over the last 3/7 days without having to interact with the hur dur haxor fud army. If there are 100 people like me you could make more than the average US salary...

One of the last concerns I had about the CL project was the transferring of Link after each data request and the attendant network congestion as the Link token itself needs ETH/gas to be moved from one asset holder to another.

From Thomas Hodges today in the telegram:

"- Requesters will need to use LINK in order to create and fund their requests for external data
- Node operators will use LINK to provide as a penalty deposit
- Node operators are paid in LINK, funded by the requester for fulfilling data requests

Finally, all transferring of balances once the request is made occurs within the oracle contract. The oracle contract keeps the balanace of all nodes deposits, requesters funded amounts, penalty deposits etc. When requests are fulfilled, instead of doing a token transfer each time, balances are updated within the contract and made available for withdrawl."

So basically only have to interact with ETH when withdrawing your sum total of a time period's worth of payments or initially funding. Which puts to rest the last issue I had in my due diligence on LINK.

Is this real boys? We're just gonna sit here for the next 12 months circlejerking and shitposting while we get rich? What a time to be alive.