/biz/ - Business & Finance

>>58565562
>so if they were reading price data from the NYSE...wouldn't they just read that data, come to consensus on it, and return it...?
That's pretty what Coinbase and Compount teamed up to do.
Let's check in and see how their proprietary oracle is doi...
-AAAAAAAAAAAAAAAAAACCCCKKKKKK

>>58080099
>company that has price feed server network without a token
That's what we call a "centralized oracle". Coinbase had one of those at one point, pic very related.

>>56573172
here's one

>>56218928
>one node is good enough
Here's your one node, bro

Six years of Chainlink working flawlessly while every other oracle absolutely shits itself multiple times, and you STILL have no idea what's going on.
Seriously kill yourself at this point.

>>56133360
>2020
Here's what happened to that Coinbase oracle

>>55978609
Sounds like a good ide-ACK

>>55862296
Is this a joke?
The past three years have been one big cautionary tale for cryptos that they have two choices: use Chainlink or lose all your money.

The vast majority of Defi etc. has been running on Chainlink for like two years now.

>>55822508
From your own Link: "On mainnet, sponsors are paying the LINK associated to keep those feeds live, decentralized, and secure, so they are not free."

>it's what makes chainlink so popular: it's free
lol what makes them popular is the fact that they never fail and cost their users hundreds of millions of dollars. Pic very related.

>>55349153
Funded or not, the system itself is actually superior.
And by that logic, BTC is equally "funded by handouts", since 90+% of miner rewards are inflationary.

>>55061606
>It literally hasn't

>>54329341
>>54329402
>Chainlink price feeds not needed
>just use a centralized source like Binance or Coinbase

AHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAH

>>53906803
>You believe you're holding the token that will power tokenization of all real world assets.
Maybe ask Swift, Amazon, Google Cloud, Meta, ...

>It's really a token that powers a price checking service.
You say that like it's a small thing.
Pic is what happens when you use an inferior "price checking service".

>>53642848
>why bother having real world data on a blockchain
lol

>why would it need to be decentralised
Because otherwise pic related happens.

>>53509487
>defi tvl never reached $200b
Many sources are saying it did, for instance: https://news.bitcoin.com/relatively-unknown-protocols-push-tvl-in-defi-above-the-200-billion-range/

>chainlink does not have a working product
Then what's happening in pic related?

>>53461143
>Yes because chainlink is subsidizing them.
No.
Everyone pays, even for the public price feeds.

The reason people are using Chainlink so much is because of pic related.

>>53347668
Not that hard, trust me lol

>>53156383
>that amounts to zero actual utility
Ask every project and user who lost money because of non-Chainlink oracles.

>>53114988
And I'm pretty sure the actual performance has something to do with it as well.

>>53071070
>So what does chainlink do?
see pic

>why are chainlink lokens valuable?
The tokens are needed for every single thing Chainlink mainnet does.

>>53054284
>no product

huh, weird

>>53033481
JFL imagine thinking that chainlink has serious competition.

>>52951476
>mainnet with no features is useless
oh boy

>>52830533
They kinda sorta did though

>>52773357
>reporting price feeds isn't a monumental task anon
Tell it to Coinbase.

>>52773334
I KNEEL IN GRATITUDE