/biz/ - Business & Finance

I bought some Chainlink and Everest today. What trades did you make?

>>54907146

Crypto Oracle failed because he never understood the god protocol, the missing piece wasn't data encryption & security, it was user Identity.

"There is a very large universe of usecases looking to be connected to front ends that can prove who somebody is." - Sergey Nazarov

Chainlink is the Universe of usecases.
Everest is the frontend that can prove who somebody is.

1 Link = 1 ID

Oracle exploits will destroy your Smart Contract via nuclear sized explosion.
Sybil exploits will destroy your Smart Contract via death by a million cuts.

User Identity needed.
Smart Contract commerce will never be more than the shitcoin casino we've seen the last few years otherwise.

who /compliant/ here

>>52952365
This article is getting at that.
https://chainlinktoday.com/everest-provides-identity-data-via-chainlink-network-to-support-new-web3-use-cases/

>To unlock new use cases that enable interactions based on non-financial variables such as social capital and reputation, web3 needs an on-chain identity layer that uses decentralized oracle networks to verify identity data while maintaining a certain degree of privacy.

>Everest’s identity data can be used to verify that the owner of an address is known, unique, and deduplicated, supporting a wide range of identity-based web3 use cases that involve compliance, voting, resource distribution, and access control.

>“Everest is excited to enable next-generation services with Chainlink which help mitigate types of account abuse, such as shadow accounts, sock puppets, trolls and troll farms, which all require the ability to generate accounts at will.”