/biz/ - Business & Finance

ChainLink is the next Palmbeach coin! Fasten your seatbelts linkies

Smart contract execution layers:
Eth
Eos
Tezos
Cardano
Stellar
Hyperledger
Eth classic
Neo
Icon
Hbar
Etc Etc Etc

Business compliant smart contract oracle layers:
Chainlink

If you're not in now, you deserve your fate

This discord tranny fud is getting annoying
Think about this:
In mar 2017 the EEA was announced on the back of Ethereum which offered the promise of trustless smart contracts with simple on chain inputs and outputs. At the time ETH was around 10 bucks and immediately 5x'd to 50, then pumped to 400 over the next 4 months.

Lets say, just for argument's sake, some kind of "legacy players are committed to chainlink" kind of thing is coming in the next few weeks. Again, just for argument's sake (and to piss off the discord fags who sold and are underwater) let's assume CL tracks ETH's price on a proportional basis.

You might see price action like this (just for argument's sake):
EOApril: 3.5
Mid May: 18
Mid July: 36
Mid Aug: 150

But then again, Link is very unlikely to have price action like ETH. Remember all of the following:
ETH had significant public exposure and marketing before EEA, Chainlink hasn't
ETH had continued coin emission partially blunting the upwards price pressure of all those new buys
ETH had known scaling issues without viable in-project second layer scaling solutions
and most importantly:
ETH was only a smart contract execution layer, where Chainlink is now an execution layer plus an oracle layer, so Chainlink captures effectively the entire smart contract value add under one project

So when Chainlink goes public, it won't have price action like ETH, it will make ETH look like a stock

Wishing all the best to my desperately fudding swingfrens...remember to hedge with rope :)

...in a combined oracle/execution network node such as chainlink.

Some of the fun FUD around CL has involved conflating node transparency and node decentralization. These are of course similar but distinct properties: one could have a totally decentralized network if there was no barrier to entry to KYC. Practically, however, if a single entity provides node KYC there is a risk of centralization specifically with respect to the actions of the KYC provider within the network.

In other words if there was a trusted third party which could be relied on to allow equal criteria for KYC for a decentralized network that supported KYC but did not require it, KYC would simply become another criteria by which to valuate nodes.

Simple decentralized networks have little need for KYC in cryptographically secure blockchains as it is immediately mathmatically apparent if a node is acting in a malicious manner (adding false transactions etc).

However in a bridge network where there are high value, single or oligo sourced data and API access points, this approach doesn't work as it is not immediately publicly apparent if a malicious action has occurred...

Hey fellows, your resident spoonfeeder here.
We've come so far so I won't force you to put anything together this time, I'm just going to give it up:

In May (previously in anticipation of the smartcontract summit) the public, decentralized Chainlink network will begin to merge with the private, permissioned smartcontract network. This will allow the private network access to inexpensive contract execution through arbitrum/chainlink nodes and will also allow them access to always on/always reliable pricing data that is needed to make those smart contracts dynamic.

Know how there have always been hints of "decentralizing" the network with good initial launch volume? That's what's going to be in the cards from May forward. Specifically every node will have a baseline contract volume by simply being a contract executor plus whatever additional value they bring by supplying price feeds and API access.

Obviously it will be far better to be a bank running a node and getting a juicy fee every time a contract makes a bank payment or checks a balance, but that will be the little secret of SWIFTs members while they roll out the "open banking" banner. The good news is even your NEET nodes will have baseline contract volumes even if you don't supply a single bit of data.

I know you want this to be a singularity. Maybe it will be (if people in the crypto market are smart enough to understand what merging the networks really means) or more likely you'll see a series of sharp upticks as "smart" investors figure it out and feverishly buy in once the first public estimates of contract volumes and node returns hit private groups, then paid media sources then public media.

Either way, from May forward 2020 is going to be the definition of fun. Take the crypto mania of the prior bullrun and add "business" and "commodity" investors joining the party because they'll finally have to swallow their pride...

you can never have enough chainlink threads

ChainLink is the next Palmbeach coin! Fasten your seatbelts linkies