/biz/ - Business & Finance

>>4794735


Look at ETH.
What makes it worth the $300 it is today?
Smart contracts
They are revolutionary. Don't know why? Google it. You will find all sorts of uses for them, from Finance, Insurance companies, Airlines, you name it. There is a problem however, which is probably slowing down ETH's growth. Right now, smart contracts on the Ethereum network are limited; it's confined within the blockchain and with data on the blockchain.
Chainlink changes that.
All of those potential uses for Smart Contracts - that's all now a very legitimate possibility now. In the simplest terms, Chainlink allows for extenal data to inform smart contracts. When you consider the fact that it's decentralised, it gets a whole lot better.
People that keep saying things like "why would banks use chainlink when they can just make their own version" clearly don't understand the fundamentals of this project. Chainlink's goal is not to "be used" like (e.g.) Ripple hopes to achieve.
Chainlink is merely the bridge that enables data which is outside of the Ethereum 'universe', to communicate with it, and thus execute various actions. Thus, it's not unlikely that adopters will use their own private blockchain (biggest reason would be to avoid the market fluctuations in it's value). But - what will they use to get their data, onto the blockchain - whether it be their own token, eth, etc... Chainlink.

1. Eth and smartcontracts. We all know smartcontracts are revolutoinary, but their use cases are limited. Smartcontracts are awesome, but they are confined within the blockchain and data on the blockchain. In otherwords, right now smartcontracts are "you send 1 eth and I'll send back 1000 McTokens", and this contract is verifiable/trustless/amazing but its stuck within the universe of Ethereum and the data Ethereum understands

>>4774378

Personally looking for around 3-6$ LINK in February, then 25$ EOY 2018

>>4771018

>current state of biz

>be me
>be thanksgiving, family all laughing and joking, asking me when Im going to get a job or even pay rent
>tell them im actually a successful crypto trader, its been going so well i recently became a millionaire
>they all laugh
>show them my blockfolio
>i try to explain LINK
>uncle downloads blockfolio, types in 1,000,000 LINK, starts showing it around saying hes a crypto millionaire too
>everyones laughing
>tell them its true and i can withdraw from a LINK atm
>convince my family to take me to nearest LINK atm, 2 hours away
>they wanted to go to this city anyways for shopping, tell them ill buy some gifts for christmas
>arrive at atm
>atm only allows you to buy LINK, not sell it
>family getting impatient
>"enough anon, your joke is going too far, lets just go to the mall now"
>i ask the convenience store clerk how do I sell with the atm?
>he doesnt know what im talking about, "only buy, you buy here"
>aunt goes up to the atm with a $20 and pretends it came out, look Anon, I sold my byte coins, how come you cant sell yours?
>everyones laughing as they head back to the car

>>4625667
ledger supports link

>>4608876
Just joined the officer ranks today!

>>4453001
I'll be watching the bitcoin collapse with great interest from my spaceship with my good pal Sergey with me

>>4423627
i also think i bought to high but lets try not to worry... in 2 years it wont metter anymore.

>>4367360
This. LINK is the comfiest hold of all time. You know it will go to fucking pluto, the only question is how soon.

>>4361965
hey there anon!
I have only 300 too.
I also bought them kinda high.
All in the minus.

Thank you for the reports from the front line, Sergeant!

>>4321655

Thank you good Sir see you at the lambo store

I have 100% of my funds invested into LINK but I'm jealous of Ark's delegate system. I wish LINK had that.

>>4239397

Also success for ZAP is success for LINK, and the other way around. Why hate when we can spread the oracle love ? :/

Finally a new SIBOS to pump the price to!

Look at ETH.
What makes it worth the $300 it is today?
Smart contracts
They are revolutionary. Don't know why? Google it. You will find all sorts of uses for them, from Finance, Insurance companies, Airlines, you name it. There is a problem however, which is probably slowing down ETH's growth. Right now, smart contracts on the Ethereum network are limited; it's confined within the blockchain and with data on the blockchain.
Chainlink changes that.
All of those potential uses for Smart Contracts - that's all now a very legitimate possibility now. In the simplest terms, Chainlink allows for extenal data to inform smart contracts. When you consider the fact that it's decentralised, it gets a whole lot better.
People that keep saying things like "why would banks use chainlink when they can just make their own version" clearly don't understand the fundamentals of this project. Chainlink's goal is not to "be used" like (e.g.) Ripple hopes to achieve.
Chainlink is merely the bridge that enables data which is outside of the Ethereum 'universe', to communicate with it, and thus execute various actions. Thus, it's not unlikely that adopters will use their own private blockchain (biggest reason would be to avoid the market fluctuations in it's value). But - what will they use to get their data, onto the blockchain - whether it be their own token, eth, etc... Chainlink.

>>4206276

https://www.youtube.com/watch?v=kW27zYIxZhY

buy link

>>4204618
Knocking out that centralization, where you have to trust someone, is THE key to SmartContracts having a real world use case. But how do you get that information -- the fact that the $300 has been sent -- onto the blockchain using data that the smartcontract understands?

3. Oracles. Right now the answer is "hey we can hire Oracle X to do the translation to represent this bank dollar transaction on the blockchain." The "oracle problem" with this is that you are 100% TRUSTING that oracle to act prudently. That they don't tamper with the data. So we can kill coinbase but now we have to trust the oracle instead of coinbase .This is a HUGE problem for Banks who want to get into blockchain but have to trust a centralized oracle to translate data. This Oracle can be hacked, falsified, defrauded, really all the problems that come with centralization.
4. ChainLink - this service DECENTRALIZES that translation process of the Oracle. Now, the translation is trustless, and you have a trustless data feed that informs the trustless smart contract.

>>4195433
https://twitter.com/tokic13/status/925746062672973824

Look at ETH.
What makes it worth the $300 it is today?
Smart contracts
They are revolutionary. Don't know why? Google it. You will find all sorts of uses for them, from Finance, Insurance companies, Airlines, you name it. There is a problem however, which is probably slowing down ETH's growth. Right now, smart contracts on the Ethereum network are limited; it's confined within the blockchain and with data on the blockchain.
Chainlink changes that.
All of those potential uses for Smart Contracts - that's all now a very legitimate possibility now. In the simplest terms, Chainlink allows for extenal data to inform smart contracts. When you consider the fact that it's decentralised, it gets a whole lot better.
People that keep saying things like "why would banks use chainlink when they can just make their own version" clearly don't understand the fundamentals of this project. Chainlink's goal is not to "be used" like (e.g.) Ripple hopes to achieve.
Chainlink is merely the bridge that enables data which is outside of the Ethereum 'universe', to communicate with it, and thus execute various actions. Thus, it's not unlikely that adopters will use their own private blockchain (biggest reason would be to avoid the market fluctuations in it's value). But - what will they use to get their data, onto the blockchain - whether it be their own token, eth, etc... Chainlink.

>Eth and smartcontracts. We all know smartcontracts are revolutoinary, but their use cases are limited. Smartcontracts are awesome, but they are confined within the blockchain and data on the blockchain. In otherwords, right now smartcontracts are "you send 1 eth and I'll send back 1000 McTokens", and this contract is verifiable/trustless/amazing but its stuck within the universe of Ethereum and the data Ethereum understands
It is possible to use external data to inform these contracts, but right now that process is centralized. This is a problem. Lets say the external data is a transaction of Dollars for ETH. So you send 300$ to bank account X, and then I send one Eth to your address. Right now you either do that through a third party (CoinBase), OTC (LocalBitcoins) or whatever else centrlized system you want to use.