/biz/ - Business & Finance

Most people don’t understand how the technology works. They think Chainlink will be this magic portal that connects the traditional finance world to the blockchain and every transaction will pay link node operators. It’s assumed that LINK is the middleman for everything and will take fees for every tx, thus node operators become insanely rich. That’s not how it works though.. link isn’t even a bridge. It’s just the entrance to a bridge that connects 2 worlds. Sure you can put a toll booth but then people will use other routes.

Tolls pay for the bridge/highways... Not the toll booth lol

Link can’t bridge anything. People meme’d everybody into believe oracles are similar to interoperability somehow and will have all these use cases. They will just fetch price data mostly.. Oracles are not the settlement layer for payments/smart contracts. Or anything really. Once I realized that I jumped off the LINK train. It’s not like KSM/DOT with interoperability and can settle transactions. Oracles will supply the bridge chains with data to feed into the settlement layers. Nobody is paying for that data though lol they’ll just run the nodes themselves with or without link. Only thing holding the price up is this belief that Chainlink with act as the bridge