/biz/ - Business & Finance

>>12181447
DUDE, you are a MANIAC

>>11861921
Indeed, sell now anon before it’s too late

>>11762222

It was not like this, many people outside of biz new of ETH pre-ico. Less people know of Chainlink now.

>>11511173
are you seriously this retarded or just a cunt who still thinks it's edgy to fud link

>>11500333
trips of truth

In order to provide sufficient collaterals for smart contracts involving large monetary values, node operators have to stake large amount of LINK running the nodes, to ensure honesty for reporting faithful and accurate data. And in order to take provide take advantage of the decentralized oracle function, multiple node operators will report the same data.
So here is my question, say if I'm going to launch a smart contract involving monetary value of $1,000,000, and demand data in order to trigger the smart contract, node operators have to stake at least $1,000,000 value of LINK as collaterals. And in case 50 node operators are involved in this oracle function, LINK equivalent to $50,000,000 is now on stake. These node operators expect decent returns from staking and reporting accurate data (particularly given that US treasury rates are over 3%). Say these node operators expect a return as low as 0.01% per data reporting, it would cost the smart contract $5,000 just to retrieve a single data from the oracle, plus the network fee of the smart contract operating on Ethereum. And obviously this cost is going to significantly increase for complicated smart contracts that involve retrieval of multiple data.
So it seems that the cost of operating a single smart contract, apart of it's cost of writing a smart contract, is indeed quite high, in order to justify the attractive return provided to the node operators. How easy is it to promote these smart contract in everyday life, especially one of the major argument for choosing smart contract over conventional human based "contract" is to save cost? Or did I misunderstand the concept of operation of a decentralized oracle?

>>11444862
this, fuck off and die already OP

>>11413738
this

>>11374604
find wherever he wrote the private key instead
once you have the seed phrase it's game over man

>>11368174
yeah based poon in that video
literally no one fucking knows what chainlink is yet
>wemadeit