/biz/ - Business & Finance

>>15994923
>while they might use Chainlink to retrieve data, would they pay any LINK tokens?

If your smart contract is getting fed API data by Chainlink oracles then the oracle fees for that contract are denominated in LINK and the collateral staked by the nodes is denominated in LINK. Whether the chain is public, hybrid or permissioned has no impact on that basic fact.
One kay ee oh why.

>>15994923
WELCOME TO THE CHAINLINK TRANSFER NETWORK

>>15994935
>>15994937
Sure, but with a permissioned blockchain why would they need decentralized oracles?

If enterprises wants to settle smart contracts between themselves, for immutable record on the ledger, they could just set up Chainlink nodes to pull data and not use public nodes.

Why would a permissioned blockchain care about input being secure? I would liek to know, please explain

>>15994971
Decentralization and tamper proofness are important in the execution layer of the stack
In the oracle layer the fidelity of the inputs and outputs is what is most important as well as having use case specific aggregation functions to meet different needed levels of reliability

Look in the archives for the sybil chasm post to see why the network is being set up in this ordee vs pure decentralization first

>>15994923
you had two years to figure this out or read the discussions on it

throwback early 2018 FUD

>>15995036
I understand how it works just not why a permissioned blockchain would care about paying LINK tokens to pull decentralized data to a permissioned blockchain. they can use link without link tokens for this purpose

>its another episode of linkoid asking stupid questions on a malayian frog posting board instead of dhor
Pathetic sage report...

>>15994971
I want to point out that chainlink is designed to allow private networks like this, they can perform transactions with minimal collateral but by their nature they would only exist in-house, any interaction with the external ecosystem would require usage of the wider network due to the trust problem

>>15995080
You clearly do not understand how it works

>>15995090
Ok. Example, SWIFT did a PoC with R3 Corda.
Enterprise blockchain
They have oracles
Why would those oracles be using Chainlink tokens, assuming it's Chainlink based nodes?

>>15995213
who is being asked to trust swift’s oracle? the contract taker would want api data from the wider trustless network, not from a centralized one

>>15995213
The LINK token also acts as a currency within the Node network. You can only pay nodes with LINK.

Keep in mind oracles do the heavy lifting for the contracts in use. From there you gotta pay the oracles for their work.

There will be conversion tools to make it easier on enterprises so they don't have to actively go and buy LINK to use the oracle network. They can pay in dollars, euro or anything they want and the conversion to LINK will happen automatically for the node operators.

>>15995287

To add, why LINK only?

LINKs function also transfers data. So it is necessary and needed. part of Its value is the data that runs on it.

>>15995253
that's why I'm asking about permissioned blockchains in particular, but you're right

>>15995287
thanks, I still don't see why permissioned enterprise blockchains would really need to use link tokens.
They already have to trust the node operators, right? It's not decentralized in the first place, so why do they need decentralized data?

anyway I'd be happy if these earlier mentioned blockchains will be using chainlink tokens of course. would be huge. I just assumed they'd be simply running nodes internally just to make pulling data easier

>>15995351
youre clearly a troll lmfao

>>15995361
good input from you in here

>>15994971
Your question is valid but it isn’t. Yes there isn’t a need a for decentralized oracles on a permissioned chain. The participants could easily agree on a centralized data sources.

There’s two caviats though. One, systems may be ran on the outer layers that are autonomous. So the data feeds are still the weak link in the chain. What if a rogue employee wanted to do some damage? It’s like yeah on the permissioned chain you’ll be able to point and this guy and say yeah it was him, but this space is about layering autonomous processes on top of each other so the damage would still be done.

Also mixicles. The benefit of being able to sell a bond on ethereum vs our little private chain is huge.

>>15995445
Thank you. So do you believe all oracle needs in R3 Corda, Hyperledger, Bletchley etc, IF they use Chainlink, they'll be also using Chainlink tokens?

>>15995058
> muh permissioned blockchains
> muh stablecoins
> sybull is bearish

>>15995676
This. Streets >Toilets.

>>15995213
Why did SWIFT do a People of Color?
What does doing a People of Color even mean in finance?
t. Brainlet sub 1k linker

>>15995704
>raising cutting edge questions
>ShAd0W4K