/biz/ - Business & Finance

Anyone here all in Link and comfy?

>what are oracles?

with, so it is reliable. However, this may be delivered on a ‘trusted’ network that is tamper proof, but that does not require a blockchain, z decentralized oracle netwrok provide s tamper proofing.

Sergey discussed the need for smart contracts to have access to ‘data feeds’ in order to execute their logic. As an example, if a smart contract is supposed to pay someone $500 when a building permit is filed, the smart contract needs to be able to tap into some data source that informs it of this.
If the data source is a simple API from a single source, it may be at risk of being compromised or being inaccurate. If the result is payments automatically being paid in error, this could be very bad. This is where the notion of an ‘oracle’ comes into play.

An Oracle is designed to be more than ‘just an API’. They will include a rating so that its accuracy and usage could be seen, and may in fact collect data from more than just one API so that the data can be more highly trusted. Need a maximum amount of trust? Use multiple oracles. The ‘Chainlink’ technology is being built to deliver this. So, if you want to rely on some data feed to make your payments, you will choose an Oracle over an API every time. Especially for automated contracts.

If you did your research and truly understood what decentralized oracles were, u'd understand why nick szabo described them as the GOD protocol.

>if you want to read : http://nakamotoinstitute.org/the-god-protocols/

decentralized oracles will bring TRUST to the world, and also trust into the blockchain.

imagine a completely trustworthy autonomous system, that handles the terms of a contract , and that even if the company that created the contract would go bankrupt, the contract would still be running; imagine that in that contract there are terms that state that if the contractor goes bankrupt you get automatically refunded (the contractor would stash insurance money on another decentralized contract, and payment would happen then).


how could sergey claim to bring trust to the blockchain if he himself is not trustworthy, that's why they want you to follow their progress on github, that's why sergey never communcates, in fact he does communicate, but ony if it has a real meaning.

the only project right now that has what it takes to bring decentralized oracles to reality is chainlink, and that's why it is the most comfy hodl EVER.

first came the blockchain, the blockchain was viewed as not trustable, then cam chainlink to create trust, and bring the corpirate world to the blockchain.

1000$ per link is FUD, how much can you price TRUST? it is invaluable

that's why chainlink is the new revolution.

>>9037700
comfy hodl

we can penetrate the Asian market with ZeldaLinks, just need some asian linkie to bring it to them
we'd be at $2-3 already if they knew