/biz/ - Business & Finance

COPE

>>13555275
>>13555299
Link's just a fundraising token dude it doesn't have any purpose. However it is blockchain agnostic so Eth doesn't matter. You can safely store your link on any blockchain.

>>13555973
pretty funny tho all the link scammers want to bury this

>>13555275
B L O C K C H A I N
A G N O S T I C

>>13555275
> eth creates a random number generator
> still needs a decentralized source to verify inputs and outputs into a smartcontract using this data
Oh yeah link is fucked for sure kek just sold everything thanks op.

>>13555275
what is even this thread?
was anybody dumb enough to think ethereum is going to rely on chainlink? it's a layer 2 solution

>thinking LINK is a RNG
>thinking customers will want to pay the GAS cost of ethereums full chain consensus for an Oracle contract request, rather than x defined CL nodes
>blockchain agnostic

>>13555973
Why would you use anything besides the Monero chain to store your Link though? I genuinely care about the anonymity of anons' stacks.

Chainlink is so prevalent to the point where when someone decides to not use chainlink, it's worth creating a thread about it.

>>13556784
It’s only prevalent here and we loved to btfo stinktards. Putting that much hope into anything is counter-intuitive.

>>13555973
>>13556776
Wait, can you really store LINK on the monero blockchain??? I thought it was an ERC-20 token

Decentralized oracles sound like a good idea, but why did they need to use their own funding token? Why not just use Bitcoin? Or ETH?

>mfw the fud nowadays comes from link bagholders
>mfw i regularly post fud for memes
>mfw people attempting to post unironic fud have no clue about the technology, its painful to even read their posts
>mfw link is gonna moon anyway

>>13556457
>>13556406
did you watch the entire video?
>>13556417
Yes the 1000s of LINK spammers and bagholders were.
>>13556776
Proof please
>>13556784
Pathetic cope. No1 outside of /biz/ cares about LINK.
>>13556806
What do you expect
>>13556826
So Sergey can take a hot steamy dump on his cucks.

>>13557009
Great argument.

>>13557009
>nowadays
Welcome aboard newfag. The fud train has been rolling and fully booked by linkmarines since 2017. Genuine nolinkers just filter threads or ignore it completely. Maybe post the occasional dismissive one line comment. The ridiculous theatrical fud is and always has been bagholders descending into mental breakdown.

>>13556826
So that the fat russian scammer can keep a stack of 350 million tokens to dump on all the retards on this board

>>13557009
deluded morons like you are the reason i will come visit this board when this shitcoin inevitably dumps to zero

>>13557046
Wow you sure showed us your extensive understanding of how all of this works in a calm and collected manner.

Just sold another 100k. Keep these high quality posts up.

>>13557080
> The ridiculous theatrical fud is and always has been bagholders descending into mental breakdown.
So you're staying that Adelyn isn't sneaky? Or that Thomas and Steve didn't have a fight after Denver or that Tom Gnoser didn't call Sergey a sandwich fucker or that Dan doesn't like feet? Dan fucking loves feet anon and don't you forget it.

these are the threads XRP niggers make because their kike scam coin has no adoption after 7 years, unlike ChainLink which has partnerships with the largest corporations on the planet.

>>13557059
there's nothing to argue you're a retarded faggot and ETH is worthless without LINK

>>13556826

Wow, people still don't understand Chainlink.

With all the posts dedicated to enrich Biztards the knowledge they need to "make it" and then I read something as stupid as this post and also other posts in the thread.

My god. Brainlets are for real.

>>13557593
yeah but why not just use BTC or ETH though??

>>13557593
Except linkos never post any thing like that. Because there is no tech, no partnerships, no use case. You're all just living a collective delusion.

>>13557620
Because bitcoin or Eth isn't blockchain agnostic my fren. You can't store BTC on the Eth chain but you can with link.

>>13557620

Ugh, cause LINK is a ERC677 token. Its sole purpose is to transfer data.

The tokenomics of the LINK token.

1. Chainlink nodes will be paid in LINK tokens ONLY. There will be conversion tools for people that want to use fiat but will be converted to LINK. at the end of the day only LINK tokens can power the network since the nature of ERC-677 token, built specifically for LINK, is to transfer data.

2. LINK tokens are used as collateral value. Smartcontracts will use Chainlink nodes that carry a % value of LINK to the value of the Smartcontract. So yes, you can start a node without LINK but no one will use it. High value smartcontracts or any contract that has value will use nodes that carry the same or a % of value of LINK.

3. Decentralized networks that are home to smartcontracts will need decentralized data to execute. Chainlink is currently the only option. Thats why you will see everyone in this space partner with Chainlink

>>13557624
Except All of crypto will be using Chainlink oracle network.

Its to the point projects are now putting the use of Chainlink oracles in their whitepaper.

>>13557647
This anon is meming fellow anons. Link is 223 transfer and call standard not 667 just made up nonsense. Read the whitepaper

>>13557660
No-one outside of blockchain space gives two shits anon let's be honest most companies still write things down with a pen and paper.

>>13557620
It also would not be feasible to use BTC or ETH.

Think for one second.

How would that even work. The mining power to use BTC or ETH or any other blockchain just to transfer data would be too costly. Too wasteful.

The world spends billions, close to 20 billion in 2018, in hardware alone to mine blocks. Its spends an estimated $50,000 an hour in electricity worldwide. How can you even think of using BTC or ETH for this type of network.

Cmon, we are talking about middleware connectivity that can connect Smartcontracts to the real world. Permissioned blockchains to private blockchains. Private blockchains to private blockchains. We are talking about the internet of crypto. Without decentralized oracles NO ONE can use smartcontracts. Its all dead. ETH, EOS, ADA, all of it. is dead. It wont work.

Sergey Nazarav is a genius. LINK nodes mine data. real world data. You know what you need to do that? a CPU and LINK. That is all. Not a million dollar mining farm or anything close to that. Its designed so that everyone can mine the network. All you need to do is stake more LINK to aquire higher value contracts.

The more LINK staked in the nodes, the more profit one can make running that node.
The more LINK staked in the nodes the bigger the smartcontract economy can become.
The more LINK staked in the nodes the more stable the network/connectivity becomes.
Finally
The more LINK staked in nodes the higher the price becomes.

Your welcome. Good night.

>>13557752
Tldr
>this isn't your personal blog anon

>>13557752
>Sergey Nazarav is a genius. LINK nodes mine data. real world data. You know what you need to do that? a CPU and LINK. That is all. Not a million dollar mining farm or anything close to that. Its designed so that everyone can mine the network. All you need to do is stake more LINK to aquire higher value contracts.
Sounds basically exactly like ETH 2.0 with PoS. So you're agreeing the LINK token is useless and ETH can and will be used instead when decentralized oracles are built on ETH, the only viable smart contract platform of the future.

>>13557786
Im telling you that data computations will all run in oracles and the answer written to Ethereum making scale better. The problem for Ethereum? They become just a shell since all the data is in the oracle network.

>>13557786
Your making the assumption that all the words data will be on ETH... deluded. You are forgetting all the connections off-chain to other blockchains, the cloud, legacy databases, data apis, etc.

>>13557810
2019 will be about middle ware protocols. and finally the network will come alive. Keep your eye on smartcontract usage because of this.

>>13557810
then ETH becomes purely the logic engine and database layer it was meant to be

>>13557786
Please stop, Anon. The delusion of LINKies is the only reason I browse this board.

>>13557834

>>13557810
>>13557815
I'm making the assumption that ETH will be the only viable smart contract platform in the future. That's a safe assumption. If so, why do we need specialized nodes for oracle blockchain agnostic middleware when we can just have specialized nodes for decentralized oracles on Ethereum using ETH as as reputation tokenomics

>>13557856
Or just the vessel that executes smart-contracts but doesn't carry any data nor value.

From a cursory glance into eth 2.0, it seems like they created sharding and PoS out of something very akin to the entirety of Chainlink - implemented on eth entirely.
>muh blockchain agnostcism
Good luck with gaining traction when your main initial use case gets swiped from under your feet. I'm sure those Cardano decentralized oracles will make up for it, lel.

>>13557876
Tokens just like Israel have no right to exist.

>>13557881
Well for starters. Vitalik has already said he doesn't intend to do so.

secondly if they ever did attempt this it would create complexity within ethereum blockchain. With complexity there is vulnerability. With this type of complexity there is contradictory consensus.

>>13557925
The fact that things are hard to do doesn't mean they can't be done. Especially if a bunch of rich autists make it their pet problem.

>>13557752

Oof

>>13557900
checked for dubs of truth

>>13557965
Of course it can be done. But there is a reason restaurants don't manufacture their own tables or car makers don't make their own tires.

They let specialists be specialists.

On a business level it also wouldn't make sense. Think of what would happen if Ethereum went through another two years of trying to implement something like this. how screwed up and delayed their network would be while other platforms just decided to use Chainlink.

>>13557881
you can chose your level of decentralization with CL
>i want to pay for 1 node to do this
>i want 10 nodes
>i want 1000
>i want 19000

there are so many complex workflows you can execute with middle-ware, multiple chains, iot sensors, connectivity to anything that has an API
literally endless possibilities
and they dont need a new fork of some monolithic chain that is trying to do everything every time a new feature gets added

>>13557128

how is an in house eth built oracle even trustless? are you fucktards memeing or am i falling for 0/10 fud here?

>>13555275
I hold ETH and LINK.
It's smart for Ethereum to try and do as much as possible on their own instead of adding more possible points of failure from other organizations.

>>13557996
You underestimate the power of nerd egos. Vitalik despises Sergey for some odd unknown reason. Unfortunately, Vitalik commands an army of devoted hyperautists ready to do his bidding.

>>13557646
0xBTC

>>13558013
most people start going "yeah, well we could do it like this in ETH"
then they move to "well chainlink is a bandaid"
then "well the community is a bunch of frog posting shills"

eventually it clicks. and its "10k is a suicide stack"
then "1K is comfy, you've made it"

its a slow process, but most non-brainlets get there, eventually

>>13557872
>The delusion of LINKies is the only reason I browse this board.
If true that is some sad shit right there. You are poo shill though so....

>>13558031
Vitalik despises Sergey cause he knows whats coming and he can't change the course of Ethereums future.

But I agree Ethereum is and will be the dominant smartcontract platform.

>>13557872
>The delusion of LINKies is the only reason I browse this board.
>>13557128
>deluded morons like you are the reason i will come visit this board
>1 post by this ID
Do you see?

I believe in link, an absolute game changer. Blockchain agnostic, great. However it's also clear that private chains won't be using the token and the argument is that private chains are just training wheels until public get privacy and speed the enterprises need. So basically betting on link is betting on public chains winning out for enterprise adoption which really means eth with zkp and scalability and link oracles and all the EEA and consensys projects coming together. Any other chain will remain in its shadow regardless of tech details which don't matter in the end. Betting on link is betting on eth 2.0 except link will remain in the backend and eth in the front-end with more exposure as the chain standard and another x1000 spec bubble while link might not get noticed by the bags pumping normies, so why go all in on link instead of going all in on eth? Or at least 50 50 to balance the risks? The recent EY and société générale are strong signals of what's to come, and now think of all the killer apps link will allow eth to do, eth will be at the center of all the 4IR smart contracts headlines, not link despite being the catalyst

>>13558055
>and he can't change the course of Ethereums future
The whole thread proves that he did.

>>13558090
wave 1 will be private chains to prove functionality and for B2B
wave 2 will be public chain adoption as corporations start to offer B2C services via smartcontracts

Am I missing something?
Hes literally talking about how DIFFICULT it will be to implement pos with economic efficiency
Hes also strictly talking about RANDOM NUMBERS, which is a very narrow scope, chainlink is bringing real world api data to the eth blockchain, meaning MANY other data types with real events attached to them

Is everyone on this board fucking retarded or something? Holy shit I dont belong here

I know blockchain....I get it now

Where do I go from here? how do I learn blockchain? I'm going to make it my career. We are all going to make it

>>13558119
everyone anti-LINK gets a little retarded because they want so bad to be right about it being a shitcoin (they're not)

>>13558033
Checked. Kek, you're right. I actually have a /biz/ oldfag approved minimum 35k stack. Just bored and wanted to see if I could stump some newfags.

>>13558119
>numbers
>strings of text
>a big difference
it's all bunch of zeros and ones. Once you do the first, you can do the second. The guy in OP only talks about one use case - PoS infrastructure.

>>13558100
I don't think you actually listed to the whole video.

>>13558198
You were dropped at birth

He literally talks about how the xor operation is a critical part of generating the random number. You can't just xor strings and read any meaningful data from the output you sack of shit

>>13558119
Exactly my thoughts

>>13558211
You lack the ability to interpret new information. Reciting what you just heard doesn't cut it.

>>13555275
THIS FUCKING BOOMER JUST STOLE CHAINLINKS IDEA

>>13558211
I knew you deluded twats were stupid, but goddamn.

>>13558231
>>13558246
I'm a software engineer at a fang company

Please explain exactly how you could use the pos mechanism described in the video to feed anything other than random numbers into a smart contract

I'll wait

>>13558258
I've got this one boys
first let me put my headset on...

>>13558258
>I'm a software engineer at a fang company
Sure you are

>>13558276
>dodging the question

>>13558276
answer the question there professor, quite deflecting. from what i can see this is only referring to random number generation also, which is a tiny sliver on the spectrum of chainlink use cases. i have no idea why this thread even exists.

>>13558307
I fail to comprehend how can one be so incapable of connecting the dots in this situation. Guess being in a FAANG doesn't guarantee reasoning power.

>>13558307
After almost 2 years of retard fud you can't figure it out? Yikes.

>>13558319
>dodging the question 3 times

>>13558004
This. The whole idea of a monolithic chain is flawed and will not happen. There is too much data, uncertainty, and specialization that it could never handle it.

all this shit he's talking, "its not cheap", "its complex", "bias", "influence"

but when CL mainnet, you'd just call x town crier (CL) nodes for secure RNG from SGX TEE's

>>13558327
Producing random numbers collectively *is strictly harder than* storing strings and crosschecking them across nodes doing so (competing oracles)
the first requires some additional, decidedly non-trivial procedural logic/computation. the second is dumb in comparison.

>>13558346
Why would you if you'll have the same thing built into the protocol.

>>13556784
Well put

Just bought 750 million OTC

>>13558610
i'd say having deterministic and random co-exist is less than ideal

>>13558658
The guy in OP said that the Eth team actually implemented this. I'd advise you to watch the videos, they are short.

>>13558605
hardness has nothing to do with the fact that the mechanism that is actually generating the random numbers is not compatible with real world data. This is not a general approach that can be arbitrarily applied to other use cases.

>>13558667
I've listened to them
doesn't change what I'm saying, it is less than ideal
just because they couldn't find a better way to do it, doesn't mean it is the right way

>>13558678
I'll reiterate mr faang:
One problem is a subset of the other

>>13555275
Did you even listen to what he was saying?
The random numbers are a REQUIREMENT in order to randomly choose the next node who gets to mine a block under the POS system.
Because POS needs this.
It also involves dedicated hardware apparently.
In other words: the random number generation is an integral part of the very basic function of ETH 2.0.

If you thought it made sense for the backbone (ETH) of an overlying oracle system (Link) to use the overlying oracle system for its own basic function, then you're a flaming retard.

>>13558698
and im saying that the two problems are disjoint

feel free to prove me wrong

>>13558852
I understood that. You are incorrect unfortunately.

>>13558899
So please do tell us how ETH's random number generation system replaces oracles.

>>13558973
>spoonfeed me
kys

>>13558982
It's more like "explain the unexplainable you retard" than "spoonfeed me".

>>13558899
>>13558982
You have no answer and everyone sees it. The "if you were smart you'd know" deflection may work on your retarded friends and link-tier brainlets. Not high IQ nolinkers.

Anything you say now can't be trusted as you tried to use a cheap dishonest deflection tactic.

>>13559052
OP being a brainlet, as expected.

>>13559069
I got IDs jumbled. He should still refrain from dishonest deflection tactics.

>>13556808
Yes, it's blockchain agnostic, did you not read the white paper?

>>13555275
>ETH not going to use LINK

What does this even mean? It's like saying Bitcoin not going to use HTML

>>13559700
Looks bad if ETH doesn't use LINK

>>13559927
See >>13558834

you dimwit

>>13555275
>Eth won't use link
Implying the ethereum foundation decides what oracle people will use. Eth doesn't depend on link, link doesn't depend on eth, they're separate things and the market decides the rest.

>ETH will make an RNG
>ITS OVER FOR LINK

?? The FUD is getting pretty desperate, and if this actually was somehow aimed at LINK its only bullish. The knockoffs and people taking shots at LINK, seemingly punching way down should tell you all you need to know.

They’re afraid.

>>13560039
This lol

>Muh Sergey uses Macbook
No Microsoft partnership !!!!

Even this is better FUD you dumbass, Link is not an random number generator, its an decentralized oracle network

>>13557099
That isn't his brainlet, everybody knows it's SWIFTS. Let that sink in bub.

>>13555275
So, ETH made a decentralized random number generator? Neat. How does this affect usage of ChainLink? I wasnt even aware random number retrieval was something ChainLink was planning to do. Also, that guy in the video is peak pseudo-intellectual. It took him five minutes to say “Ethereum built random number generator hardware because its needed to select the next miner in a PoS system, and its hard to come up with a secure way of creating random numbers in a decentralized system.” That’s literally all he said. It took him 5 minutes to say one sentence lmao.

>>13560147
Yeh, a huge transaction will be confirmed off of a node randomly selected from a pool. I think that isn't gonna cut it.

>>13560220
It has nothing to do with that, PoS still has multiple miners confirming each transaction. Educate yourself.

>>13560039
>imagine spending any considerable time on this board and still believing people actually FUD shitcoins
The most "legitimate" FUD you can get on here is when two groups of discord trannies clash in a thread.

>>13560133

I really enjoy that people don’t understand that “reserve” 350m is already sold. Either in pending contraxts one mainnet goes live, or literally already gone.

Sergey probably has a “small” personal stack as his payment, but its not 350m. They used that to get these companies on board, you think they’re buying that volume at retail price?

Brainlets for sure.

>>13560288
And any reserve tokens sold are almost certainly stipulated to not be resold

>>13560133
except its literally gonna be diatributed aa payment and the other part will be exit scammed for """"continued decelopment""""
linkies are truly the most deluded people on earth. beyond saving

>>13560782

Surely is to confirm stability, but once transactions are processing they wouldn’t want to anyhow, they’ll be an invaluable resource.

Irreplacable. They probably will be allowed to sell on a secondary market after a certain set timetable, or lease LINK tokens to stake to late adopters etc on a secondary market.

There will be entire brokerages that deal just in leases and loans of LINK so companies can get onto the network.

>>13555275
That boomer doesn't mention LINK once. Is this some sort of FUD? LINK nodes running the Random.org API solves this problem.

He is solving a non-problem; beaconchain, more like niggerchain.