/biz/ - Business & Finance

>>11501937
Yea it takes about a year to get thru it

>>11501937
Can you summarize it please,i want to believe too

>>11501937
Congrats dude. Only about 10 percent of linkers on this board have actually read the whitepaper.

>>11501937
>>11502014
>>11502089

>2018
>not trading in augmented reality
>not doing it while wearing balenciagas you bought with your link gainz

lol nerd

>>11501937
what's a white paper?

>>11502627
You roll your weed in it.

>>11502627
"Decentralized Oracles and solving the lambo problem" - by Sergey Nazarov

>>11502089
I read a lot of it. Shit was long as fuckkk

>>11501937
No we're not there's no use for this shit for years and years. It's like investing in electric cars in 1980. You're so early you're better off making money elsewhere and coming back to this shit

>>11502853
>time the market
ya thanks i think i'll just hold

>>11502860
Or the big banks make their own decentralized network and you're fucked lol. Which is the likely scenario since that's what link is trying to provide

>>11502886
>"the banks"
>likely scenario
maybe you need to read the whitepaper

>>11502912
why would the banks adopt link when they can just make their own system inhouse lol

>>11502886
> sources: dude trust me
Link, polkadot, accord, ari juels etc btfo'd. They are obviously all just retards who never considered this while you did! You're so clever!

The absolute state of nolinkers.

>>11502089
I have 50k links. I have not read the toile...whitepaper. Yup, but still got 50k links.

Comfy as fuck

>>11502970
>be big banks
>need decentralized network
>have trillions of dollars
>buy chainlink or create own decentralized network?

you linkers are better off lighting your money on fire but okie

>>11502080
>smart contracts need off chain data from apis
>data gets on to blockchain via middleware called oracles
>current oracles are centralized defeating the purpose of blockchain (trustless, immutable ledger, no single point of failure, etc.)
>chainlink proposes decentralized oracle network comprised of independent nodes
>contract exists on chain
>contract calls chainlink contract
>chainlink contract gives nodes on oracle network orders
> nodes query relevant apis from (not necessarily) disparate sources for data
>apis return data to nodes
>nodes aggregate data with algorithms that return accurate data despite potentially faulty nodes (aggregation algorithms and their proofs are technical, just go slow/be patient and look up relevant terms)
>aggregated data is returned to contracts on chain
>contract executes according to conditions satisfied by the returned data

>nodes build reputation by several reliability metrics
>node uptime and timliness in query reponse
>correct data reported
>number of contracts offered to node
>number of filled contracts
>number of correctly filled contracts
>average node response time
>penalty payments offered (nodes may or may not be required to stake LINK as collateral in case data they report is incorrect and causes faulty execution of a contract)

>LINK token is used both to pay node operators for successfully filling an on chain request and as collateral/penalty payment for serving up faulty/incorrect/fraudulent data to an on chain contract

>nodes can also operate on intel SGX "trusted hardware" that allows them to parse contract related data in a private environment or to perform calculations with that data in private (some users may not want certain calculations or transactions to appear on a public blockchain)

>>11502112
youre in every thread. FUCK. OFF.

>>11503114
Great summary senpai, gonna screenshot and use when my idiot friends ask about it and want to finally fomo in at $5-10. 1keoy

>>11503114
How do you integrate Intel SGX? Is this a hardware or software that you need to purchase? What kind of computer do i need to purchase to run a node smoothly (processor, internet speed, mini electric generator? [incase electricity cuts off]?, etc? Im just trying to prepare as best as I can for when the time comes.

>>11503187
from intel's website:
>The CPU in the system must support the Intel SGX instructions.
>The system BIOS must support Intel SGX.
>Intel SGX must be enabled in the BIOS, and
>The Intel SGX Platform Software, or PSW, must be installed on that system.

https://software.intel.com/en-us/documentation/intel-sgx-web-based-training/intro-to-sgx

>>11503114
>aggregation of data makes truthful data
anon I..

>>11502942
Why would an auto manufacturer like Toyota buy tires from Bridgestone or Michelin when they can just make tires themselves?

The state of no linkers is just sad these days. It was an extremely profitable trade to buy at .15 when eth was like 500 bucks or so

>>11502643
Underrated post

>>11503316
A decentralized network would be like an engine or the transmission system to a bank. Do you see Toyota outsourcing the design and manufacturing of such crucial parts? Nah anon

>>11502886
This, honestly. The tech is so early that the banks aren't even going to use this shit for a while. And when they do start to think about using it, they'll just make their own. And they can even use Chainlink's code b/c Chainlink is all open source. lmfao Chainlink didn't even think to patent their groundbreaking technology.

>>11503438
Linkies btfo

>>11503361
I wouldn't call it an engine, but more like the transmission. The engine would be the blockchain infrastructure and the transmission would be the oracle transmitting info to the blockchain.

>>11501937

>>11503277
>return a partial sig on bad data
>majority of other nodes have correct data and sign correct data
>bad data is thrown aside because it doesn't have enough partial sigs
>good data with necessary threshold of partial sigs is output by agg function

>>11503454
Yeah that's a much better analogy

>>11502942

SaaS model Chainlink is taking is cheaper than building in house. You save on overhead by outsourcing.

>>11503003
Nigga are you retarded? A bank couldn't make their own industry wide "decentralized" network since no one else would trust it. Also have you worked with banks before? They routinely hire 3rd parties just for out of the box IT let alone cutting edge smart contract infrastructure. It would make more sense for everyone in an industry to support a 3rd party by proxy. Gee I wonder who would fit that picture.

>>11503485
>the more money you have the more correct your data

>>11502886
>Or the big banks make their own decentralized network

they did. it's called chainlink

>>11503594
If such data reaches a contract and it executes incorrectly, it's incorrect data and the oracles that provided said data are penalized, money gone, reputation greatly diminished.

>>11503618
ding ding ding
it's a centralized ratings agency for api's

>>11503573
Why couldn't they...? Why wouldn't you trust the banks making for themselves to make sure money stays in their own pockets...? No I have not worked with banks before. Chainlink is trying to replace something way bigger than something you can outsource like IT shit or networking. The entire backbone of the current worldwide monetary system isn't going to be replaced by a 3rd party you mong

>>11503611
checked
this is real you fucking cockaroaches

Is there a guide on how to get into your much hyped chainlink /biz/?

>>11503664
reputation will be provided by chainlink and third party providers, also nodes aren't necessarily operated by smartcontract.com and for the most part won't be, in what sense exactly do you mean it would be centralized since it's safe to assume the tokens will be distributed to node operators to incentivize participation in the network (as is stated in the whitepaper)

>>11503720
>make accounts of coinbase and binance
>buy eth or btc on coinbase
>send it to binance
>use it to buy chainlink

you now own chainlink

>>11503760
Thanks..

>>11503696
Still not selling bitch. Get fucked

>>11503759
in any controversial situation
reputation is entirely up to centralized parties making subjective arbitrary decisions

>>11503896
that remains to be seen

>>11503696
why do banks use salesforce, sap, public clouds, every big data visualisation tool they use -tableau, infomatica, splunk. so on and so on. try get 11,000 to come together to develop something they all want (see you in 20 years).

how about offer them a solution that is PSD2, ISO20022 compliant, decentralised, secure, pay as you go, "pay for the decentralisation you need", connect your smart contracts to your own API's, a platform to sell your data via your API's to other parties for their smart contracts....etc.

if you think LINK is just for banks, you may be stuck in the "blockchain is about digital currencies" mindframe, and need to go back and look more

>>11503361
Actually, transmissions and engines are outsourced very commonly. For instance, just off the top of my head, Dodge uses Cummins diesel engines, Ford uses an International diesel. Toyota absolutely outsources engine design. For example, their 2jz engine uses a head designed by Yamaha

>>11502112
thats too much sauce young baller youre committing a flex violation :^0

>>11503998
don't bother explaining to that retard. he's a stupid fucking eurocuck with a condescending attitude about everything.

>>11504032
How about you say something with substance so I feel a bit more optimistic? And calm down bro, getting angry isn't healthy..

>>11503998
I don't know shit about engine development or production, thanks anon

>>11502112
ballin.

>>11503916
Because it's cheaper for banks to outsource them or they're services that they can't provide for themselves. However what chainlink is trying to do isn't something they would be better off outsourcing, it'd be more advantageous for the banks to develop their own decentralized system. All those things you mentioned, a bank can create on their own. They have more than enough money and time to do that, the current state of crypto and smart contracts is in its infancy, you'd be dumb to bet on any single one right now. Anything chainlink can do, the banks can do also.

Actually for link or any other smart contract services to see actual, practical use in the real world, there'd have to be so many changes in legislature and the current insurance model that it's basically a pipe dream.

>>11503892
Noones telling you what to do with your money ya silly goose

>>11504331
Wrong on so many levels. Sounds like you have a retail understanding of banks

t.insitutional bank dev

>>11504331
> build a new decentralized system from the ground up
Or
> use one which has already been tested with swift and fidelity use cases, openly working with polkadot and accord (just off the top of my head)
You're definitely larping as a retard at this point if you don't understand how SmartContract has pre-empted this need and is clearly already working with key figures to provide a foundation for banking blockchain ventures. If you're not - please just filter all link threads from now on since you're just too clever to hold this useless token.

>>11503277
Ask 10 sensors in NYC Times Square . Get rid of outliers ... average the data. Average temp. -_-

>>11504447
Please do explain anon

>>11504458
What incentive does anyone have to use link? What makes you think you're going to make money off this in 3 years? 5? 10? You're right it has wonderful potential and does all those things you mentioned. But this shit isn't going to be used practically in the real life, which is where actual value comes from, for a long long time and banks/insurance co have enough time and cash to develop on their own. not to mention link is open source lol. call me whatever you want anon

>>11504613
> what incentive does anyone have to use link?
Do you... do you have any idea how the network will actually work? Do you understand that the use it has as contract collateral alone with the clients involved suggests a much higher value in future? This isn't counting limited supply from staking to handle requests and how reputation will work when they divulge the mechanics of that later down the line. I have a better question: What incentive do I have to explain something like that to you in-depth when it is obvious that you have never even attempted to do any of your own research? Just filter it and forget you ever heard of it so you don't waste people's time in future imo. Pointing out that you're a retard isn't even ad-hominem at this point, it's an observation.

>>11504879
It has no practical use. You can talk all you want but what value is it going to provide in reality and why are people going to use it? Funny how bitcoin's been around for years and years but noone uses it? Same with ethereum or stellar which is infinitely more practical. None of these networks have any practical real life usage, you're living a pipe dream dumbass lol. You're literally gambling here anon, and only true retards put their money on chance.

I just think it's funny you coin fags think you're going to get rich off this sham when you could be doing actual shit to make money.

>>11505309
Are you being sincere?

>>11504879
>>11505309
Still blows my mind people are this narrow minded. Just screenshot and move on. You can’t save them. If they truly don’t understand the benefits of this tech they’re a lost cause.

>>11505337
>>11505364
lots of vague answers but nothing of substance. keep shilling anons

>>11505452
> accuses others of having no substance
> still can't refute any actual points, just claims it will never work and ignores anything he can't answer
Amazing.

>>11503998
Chrysler, VW, Jeep, Rolls Royce and heaps of others all use the same gearbox made by ZF.

>>11505309
>only true retards put their money on chance.
>chance
by your logic, all the stock investors and all business starters and business owners that all went to take that chance to go after their goals to make it are retarded.

>>11504331
you have never worked for/with a bank. you give them far too much credit

>>11505309
>only true retards put their money on chance.
>never took a chance in investing
> most probably never took a chance in dating

stay broke and single you fucking fagget
i bet you never take a chance in life ROFL

>>11505815
Correct

>>11503180
Good Lord, I missed the 11111111 get

>>11503696
just sold 100k thanks. you just btfo sergey, web3, accord, openlaw, cryptlets, etc. fuck now i see the ray of light my friend thank you thank you thank you. one anon on the chans just destroyed a vision of phd computer scientists and industry professionals like NOTHING. nice. nice one brother really thanks.

>>11504331
>develop their own decentralized system
walk away from the computer retard. just walk away

anybody that thinks chainlink is special clearly hasnt been in crypto for very many years. your emotional attachment to some ico funding token thanks to memes on an anime image board says it all. follow the tech, not the hype.

>>11502970
Have to temper you there a bit, literaly asked gavin wood about chainlink and hè said it’s by no chance the only oracle service they are working with

>>11503664
are you the usual ding ding ding guy? i like you.

>>11506299
Would any (sane) person be surprised by this? I don't even think Sergey would wish for that

Don't have to be a monopoly to be best of breed

2018/10/24の16:35土下座の間?エベンキ?16:36土下座?たかなし?インベーキ?
16:25●トークン?ノルディック?16:27■究極の土下座=インベーキ?ホーマー?かんにち?

2018/10/24の16:17ﾚｲﾌﾟﾗﾌﾞ?ニシマギ?かご?16:19鼻に違和感!伊阿波間??かんにち?ホーマー?
15:59土下座の影響が首の後ろあたりで作動かこれらはカッコウの托卵と同じらしい。ホーマー関係らしい。
15:51土下座?かんにち?うれしょん?15:56脾臓に違和感?
15:45てんちむがウイグルのコールタールを私の背中にやったらしい?ニシマギ?も関係?
15:26●かっこ悪いポーズのひょっとこ男?名前はドリアン?ﾏﾙﾁﾌﾟﾙﾏﾝ(多数分裂?)?インベーキ?グルジェフ?
15:09●パウダードック?土下座?15:17つれしょん?かめこ?15:25ﾄﾞﾝﾄﾞﾝ相撲取りの素(私をｸﾗｯｷﾝｸﾞ?)ｺﾘｱ?
15:19頃、エベンキ?土下座?ガンダムはナイト?コリアン?うれしょん(弟の排せつのイメージも!)ニシマギ?
15:00きっちょむ=平田実篤らしくホーマープロジェクトでﾌﾗｲﾝｸﾞｳｨｯﾁがそうしたらしい?

>>11506299
Uh, cool trivia? Did I say CL was the only one?

>>11505452
you do realize your FUD is literally elementary level FUD. Its FUD that exists on any project in this space.
>huuur duuur why would you buy link if companies can make their own version of link
pic is literally you

>>11505309
pic related is also you aswell. Are you the same Anon from 2016?

This board is full of fucking mongoloids.

SIR GAY ALREADY EXIT SCAMMED
WHY 300 ETH FOR TOKENS THAT NO ONE WILL USE?

DrainStink is a wet bandage fix on Queefereum's problems. Said network will be overtaken in 2 years anyway by something better. Link threads are literal fucking spam. None of you retards know anything about tech, programming or the internet in general.

The fudders already own bags of 100k link or more. Its all just a sad attempt to create buzz about their "all in" investment. You see, fudding lets them bump the threads discussing their bad investment while promoting discussion of tech so people think its a good buy when in reality everyone on this board who owns it already knows how it works and if not for the fudders would have nothing to talk about except for the 1k eoy delusion. Sage goes in all fields.

>>11502972
My sides lmao

>>11503833

Report back here after you get your bags. You'll receive your marine badge.

Congrats you're now a retarded link holder... And future rich as fuck!

>>11505452
This guy is either a troll or painfully retarded.

>>11503114
daily reminder that we are going to make it

I did too.

My critics:

>too general
It wasn't to do everything, allowing everyone to be part of doing it. Good idea in a perfect world but not in the blockchain world. Blockchain is restricted for reasons.

>too complex
Yes, because it is too general.

>too brainlet
I literally fail the author of the white paper was trying to fill it with BS, he literally had to mention 400 brainlet thing that all of them together will make Link great.


Great projects are resilient typically because of that one resilient core idea. Link doesn't have that.

I'd be more optismic of the idea of a decentrilized oracle that Vitalik blogged about, way more simple, way more resilient, way more narrow but gets the job done.

>>11507448
fuck off you nigger cunt

>>11507680
t. bagholder

>>11505309
Why do you even live anon? You know you MIGHT die any day now?! Better kys now, too risky.