/biz/ - Business & Finance

>>14348227
>tfw OP doesn't know about the real oracle incident when Sergey forgot usb stick with his sibos presentation

>>14348259
>>14348227
Chainlink will save crypto.

IMO this is a bigger deal than the giant let down we're going to get from cloudexpo

>>14348286
how does chainlink prevent oracles from lying?

>>14349133
First of all by making sure there are more than one independent oracles.

>>14349133
Oracles crosschecking eachother

>>14348227
Oracle too

>>14348227
>agreed to reverse the trades

was this some hacker showcasing their vulnerability or did they just start pulling out fingernails?

>>14349215
This was an arbitrage bot that just happened to trigger in the small time window when the oracle was crapping out.

The trader agreed to return the $1bn in profit in exchange for a bug bounty

>>14349435
Should’ve taken the 1 B and go buy his own island

>>14349133
Staking you dumbass

>>14349525
Is a couple bucks gonna stop someone from lying?

>>14348227

>>14349634
>we are currently talking to chainlink team to implement a price oracle with them
you just win.

it wasn't the oracle just randomly crapping out. it was most of the APIs being not reachable due to a regional internet outage and 1 of the only 2 APIs left was crapping out, so the average price between the two got crapped out. If there were 3, the crapped out price would be ignored because it deviated above a certain treshold from the others.

Chainlink node operators and smart contracts that query should learn from this and consider what happened here when they figure out how API calls via chainlink nodes should be performed. Chainlink nodes are NOT immune to this problem. If the oracle was coded differently, the problem could have been averted.

>>14349634
>we are currently talking to chainlink team to implement a price oracle with them
KEK