/biz/ - Business & Finance

>>9029319
Here you go you retard
Centralization is stupid, because it's not accurate, the third party has a vested interest and easy to manipulate contracts, and it's slower. You are right, it IS the status quo right now, so veChain did NOTHING.

ChainLINK can verify lots of transactions of any scope.
VeChain's fluctuations in price is even worse, because either the sender or receiver has to pay a fee to use VeChain.
ChainLINK's fees are paid in LINK tokens, so it loops around forever inside the network. HOWEVER, the price can only go up:
1. More companies want to use ChainLINK, they have to buy existing link tokens.
This is what they mean by LINK is locked up in nodes; one has to break apart a node to sell pieces of it to new companies that want in on this network. Why is this network valuable? Because unlike veChain, you don't have to pay a fee for each transaction, you "pay in LINK" because your nodes generate the LINK, and you use the LINK for transactions. Essentially you get a free smartcontract.
Why do you think SWIFT transactions take so long ? (3-5 days) Lots of verifications need to be done. Imagine that all of those verifications are done for free and instantaneously; as if you had an infinite pool of employees to choose from to help you authenticate.