/biz/ - Business & Finance

>>8912455
>>8912425
RAM: ~300M
CPU Peaks (recorded multiple "rounds"):
23%
32%
35%
29%
30%
25%
30%
36%

I need to reiterate here that these numbers are will all 50 jobs executing at the same time. This is good for testing, but probably unlikely in the real-world. Meaning the node can take on much more jobs than this, assuming they're not all executing at the same time.

If you get a [development environment](https://github.com/smartcontractkit/chainlink/wiki/Development-Setup-Guide)) set up, you can reproduce these tests on your own machine. Below is the JobSpec I used with the URL redacted because I don't want everyone to use the same API for testing. So you'll only need to find an API and fill in the "path" of the data for the JsonParse adapter.

30k Link stack. Smart contracts are the future.

REAL WORLD EXAMPLE

Weather insurance for farmers. If it rains 10 inches the farmer gets paid automatically. Instead of going through 10 people and it taking months settling your claim. Because of the finality aspect, the system needs to be tamper proof. The blockchain/smart contract side is, but someone could hack the weather station providing the data that allows the smart contract to know its raining. Chainlink allows for the smart contract to take the information of 10 weather stations. So to commit fraud you’d have to manage to hack 10 weather stations. Or 100 or 1 million depending on how secure the contract requires

This same logic applies to a large amount of other use cases. A few examples:
- Flight insurance
- Bond payments
- Sports betting
- Pay as you drive cars
- Automatic speeding tickets
- Supply chain records
- Data for apps
- Escrow for houses
- Escrow for online purchases
- Shipping insurance
- Life insurance
- Automatically executing trust funds
- Automatic release of titles when you pay things off
____________________________________________
SMART CONTRACTS/INSURANCE

Imagine insurance companies paying out after natural disasters (like hurricanes). You have builders required to build up to a certain code, say 100 mph wind speed. If the wind speed goes over 100 mph the insurance company pays out. However if wind speed is below 100 mph, the builder (or their insurance company) pays out. Now you need a decentralized data solution. Both parties have a interest in knowing the wind speed and knowing that the weather data is accurate. You can build smart contracts that will execute payments based on this data (potentially millions of dollars).

https://news.ycombinator.com/item?id=15647626

Telll me I'll be ok. 30k Link stack. Smart contracts are the future.

Essentially, ChainLink is like an adaptor. I have an old truck, right? Its so ancient, it has a cassette tape player. Well, I like to play music from my phone, but I can't, because there's no connection. If I wanted to, I could buy a whole new stereo system for hundreds of dollars and have to deal with installing it.

Or, I could buy a $20 adaptor that is literally a cassette with an aux jack wire coming out of it. Boom. Now I can play mp3s from my phone through a cassette player and I didn't have to upgrade anything, which suits me just fine.

Now apply that concept to the entire global financial markets that would love to take advantage of the blockchain, but have the old "cassette player" tech that they would rather not spend money replacing.

>>8435098
ChainLink is not only a bridge for triggering smart contracts from other platforms but is also the first one which can securely insert offline data into smart contracts or grabbing them out from elsewhere. Every single visionary use case with ethereum you heard of needs data from outside of the crypto Ecosystem.