/biz/ - Business & Finance

>>19933701
looking at what's happening to society, I guess the average person does.

>>19869768

ITT: posts that won't age well

>>19609712
>>19609720
>>19609735
>>19609748
it's not about the decentralisation in itself retard, if that was the case you would be right.

It's about solving the oracle problem. Do you even understand what that is? It's the problem that data needs to be pushed to the blockchain.

That means a data provider would have to actively pay gas to push data to every single smart contract that is using their data. These data providers are experts in providing data. But what do they know of bunching threshold signatures to lower costs? What do they know of the risks and security that has to come with smart contacts? In a SC, if the value is wrong for even one push, billions could be lost (for the clients they provide data to now, this is not the case, exactly because there is lots of costly middlemen to prevent things like this).

Because SCs are automated, the data side of things suddenly has huge opportunity and incentives for fraud. After all, the SC doesn't question anything. It just acts on the data, unlike current human actors.

This is where chainlink comes in. It is only taking the decentralised approach to solve the oracle problem. It has nothing to do with the existing security of data providers.

So all your wall of text proved is that you (like many) don't understand the oracle problem.